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Quote of the Day
"Portfolio optimization sounds elegant in theory, but using it in practice is another matter."
(Rick Ferri)
Chart of the Day

@TMFHousel – Gallup poll 2011: 34% of Americans said gold will make the best long-term investment, 17% said stocks. Since then:
Markets
- 2015 has been a big snore for the US stock market. (blogs.wsj.com)
- There is no such thing as an average year for the market. (jeroenbloklandblog.com)
Commodities
- Are we at peak commodities hatred? (pragcap.com)
- Is the drop in commodities prices good news or bad news? (economist.com)
Gold
- Gold is at a five-year low. (crossingwallstreet.com)
- A history of gold returns. (awealthofcommonsense.com)
- Plumbing the depths of gold miner weakness. (shortsideoflong.com)
Strategy
- On the advantages of a dual momentum approach. (dualmomentum.net)
- Active equity traders should seriously consider using futures. (blog.tradovate.com)
- How some investment blogs have stood the test of time. (thereformedbroker.com)
Companies
- How can Apple ($AAPL) keep growing iPhone sales so quickly? (asymco.com)
- Qualcomm ($QCOM) is thinking of breaking itself up. (wsj.com)
Finance
- The opportunity to swap debt for equity is running out for companies. (bloomberg.com)
- Dodd-Frank has not really changed how banks make their money. (fortune.com)
- Bloomberg messaging rival, Symphony, is set to go live. (ft.com)
ETFs
Earlier on Abnormal Returns
- Startup links: strategic offers. (abnormalreturns.com)
- What you may have missed in our Monday linkfest. (abnormalreturns.com)