Quote of the day
Tyler Craig, “In order to thrive you must survive. In order to accumulate experiential knowledge you have to be living in the markets year in and year out. Don’t rush things and realize the markets will be here for a very long time.” (Tyler’s Trading)
Chart of the day
Fifteen reasons to love the Loonie. (Pragmatic Capitalism)
Markets
Some technical reasons for a correction. (Trader’s Narrative)
Why isn’t the VIX higher already? (SurlyTrader)
The impact of the dollar on equity performance YTD. (Bespoke)
The coming age of ‘free ETFs.’ (Random Roger)
Trading
Real world experience vs. formal education: which benefits a trader most? (Bubble Boy Trader)
Three unique traits that can help make you a profitable trader. (Investing With Options)
How to make yourself attractive to a proprietary trading firm? Trade. (SMB Training)
Strategy
The persistent power of the ‘reach for yield.’ (Aleph Blog)
Some of Berkshire Hathaway’s holdings are still cheap. (ROI)
Volatility mean reverts. (MarketSci Blog)
How asset growth affects equity returns. (Empirical Finance Blog)
Hedge Funds
Bridgewater Associates remains the biggest hedge fund operator. (FINalternatives)
A profile of Harvard Endowment alums, the “Crimson Cubs.” (Bloomberg)
Finance
Is consulting giant McKinsey & Co. the true ‘vampire squid’? (Big Picture also WSJ, Street Sweep, NetNet)
Add Roubini to the muni default estimate pile-up. (WSJ also FT Alphaville, Big Picture)
Have banks learned anything when it comes to covenant-lite loans? (Dealbook)
The rush to the bottom and the exchange merger wave. (Fortune Finance)
The sideshow that is the argument(s) against high frequency trading. (Locklin on Science)
iPad
iPad 2 specs, new software and cover. (AppleInsider, ibid, TechCrunch, ibid)
Why other tablet manufacturers can’t touch Apple on price. (The Tech Trade)
Financial advisors love the iPad. (InvestmentNews)
The final word on Apple’s subscription pricing plan. (Daring Fireball)
Global
Why Bahrain matters. (FT Alphaville)
A bad couple of weeks for the Saudi stock exchange. (Bespoke)
Economy
Just in case you weren’t sure the economy was in a recovery. (macrofugue)
The auto sector is in recovery mode. (Econbrowser, EconomPic Data)
Small companies are adding jobs, just not enough to offset cuts from large companies. (Bespoke)
When will the Fed look away from the rearview mirror? (Economist’s View)
Not surprisingly Bill Gross doesn’t want QE2 to end. (Felix Salmon, Street Sweep)
Errata
The battle for a “social version of Google Page Rank.” (GigaOM)
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