Thursday, September 8, 2011

Monday links: natural constraints

Quote of the day

Paul Carr, “He [Steve Jobs] did not set out to destroy existing business models, he just noticed their lack of relevance and came up with new ones that kept consumers happy and Apple fat.”  (NYTimes)

Chart of the day

AAPLc1dl1215 Monday links: natural constraints

Apple ($AAPL) stock has shrugged off the Steve Jobs resignation.  (Businessweek)

Video of the day

Robert Shiller on the malaise gripping the US economy and home markets.  (WealthTrack)


Who says equity market valuations have to rise?  (Big Picture)

Defensive sectors continue to lead the market.  (Dragonfly Capital)

Future equity returns depend in large part on the history used.  (EconomPic Data)

Emerging market bonds have turned into a safe haven asset class.  (WSJ)

Most Americans don’t care about stocks.  (TheArmoTrader)

Have we really seen the panic necessary for a real bottom?  (Humble Student)


Loss aversion at work.  (Crossing Wall Street)

Tom Brakke, “The natural constraints of an investment style or strategy can be too easily ignored.”  (the research puzzle)

Commodity prices are too high.  (Pragmatic Capitalism)

The attraction of building a portfolio with multiple strategies.  (Term Sheet)


Evidence of SAD from mutual fund flows.  (SSRN via Capital Spectator)

Underpromise and overdeliver:  the case of CEO promises.  (SSRN via Empirical Finance Blog)

The Jackson Hole papers.  (FT Alphaville)


The other shoe drops at Bank of America ($BAC) with a sale of half of its stake in China Construction Bank.  (Dealbook)

The secret plan over the past year to kill Hewlett-Packard ($HPQ) is working out as planned.  (WSJ)

All eyes are on the potential Amazon ($AMZN) tablet.  (AllThingsD)

The next new blockbuster pharmaceutical.  (Bloomberg)

Are there second acts in venture capital?  Kleiner Perkins hopes so.  (WSJ)


Why is the ECB so focused on inflation?  (James Surowiecki)

Every dog has his day:  the Greek stock market rallies.  (Bespoke, Crackerjack Finance)

Emerging markets have not really decoupled from the rest of the world.  (Michael Pettis)

You can buy a share of Manchester United, just don’t expect voting rights.  (WSJ)


The national ISM manufacturing survey is likely to come in weak.  (MarketBeat, Modeled Behavior)

Pres. Obama gets a new CEA chief, Alan Krueger.  (WSJ, Bloomberg, Modeled Behavior, Megan McArdle)

Consumer spending on the rise.  (Calculated Risk, Capital Spectator)

Consumer balance sheets still have a ways to go to get back to historical norms.  (Pragmatic Capitalism)

Why so much focus on the role of speculation in oil futures?  (Econbrowser)

The US economy is becoming more vulnerable to hurricanes.  (Real Time Economics)

Changing demographics and an easy fix for the economy.  (FT Alphaville)

Earlier on Abnormal Returns

What you missed in our Monday morning linkfest.  (Abnormal Returns)

Rising stock correlations:  this too shall pass.  (Abnormal Returns)

Mixed media

Some end of summer reading: The Little Book of Trading by Michael Covel.  (Au.Tra.Sy Blog)

Identity+context=the killer app.  (Howard Lindzon)

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