Quote of the day

Brett Steenbarger, “The missing ingredient in the training of traders is grit:  the development of cognitive and emotional fortitude in the face of high demand and high stress.”  (TraderFeed)

Chart of the day

MLP IPOs just keep on coming.  (MoneyBeat)

Markets

The stock market is the not the economy, redux.  (Morgan Housel)

The stock market doesn’t care how you feel.  (Chuck Jaffe)

The case for a new secular bull market.  (Barry Ritholtz)

Strategy

It’s okay to say “I don’t know.”  (A Wealth of Common Sense)

Investors don’t need fancy tools to succeed.  (Gatis Roze)

A look at the many reasons why it is too late to buy stocks up here.  (A Dash of Insight)

If you get a letter from your broker you should probably be concerned.  (Jason Zweig)

A Q&A with Guy Spier author of The Education of a Value Investor: My Transformative Quest for Wealth, Wisdom, and Enlightenment.  (Market Folly)

Research

Using analyst forecasts (stock yield) to forecast market-wide returns.  (SSRN)

How options (volume) dispersion affects future returns.  (SSRN)

Companies

When revenue misses are a good thing.  (Aleph Blog)

Why eBay’s ($EBAY) breakup makes more sense than HP’s ($HPQ).  (Musiungs on Markets)

Twitter ($TWTR) could become a blog powerhouse with this simple design change.  (Phil Pearlman also GigaOM)

Finance

The barriers to entry for a trading business are rising.  (Points and Figures)

The problem with false precision in stats and estimates.  (Financial Math)

ETF statistics for October 2014.  (Invest with an Edge)

Global

Why rich countries should be taking in more immigrants.  (Tyler Cowen)

Why East Germany has not (and will not) catch up the West.  (Fortune)

Economy

Just how tight is the labor market?   (Econbrowser, Bonddad Blog)

Why the Fed should be focused on its inflation targets.  (Tim Duy)

Some 2015 housing market forecasts.  (Calculated Risk, Real Time Economics)

A succinct summary of the past week.  (Big Picture)

The economic schedule for the coming week.  (Calculated Risk)

Earlier on Abnormal Returns

Top clicks this week on the site.  (Abnormal Returns)

What you might have missed in our Saturday linkfest.  (Abnormal Returns)

Mixed media

Why it’s not worth fighting trolls on Twitter.  (The Reformed Broker)

Inside the life of the country’s first paid pot critic.  (NYTimes)

Five ways to take control of our runaway lives.  (Speakeasy)

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