Wednesday links: yield crossover

19Nov08

An historic yield crossover.  The dividend yield of the S&P 500 now roughly equals that of the ten-year Treasury yield.  (Barrons.com, TheStreet.com)

The behavior of the VIX is not all that unprecedented.  However with a little bit of time we just might get to unprecedented.  (Daily Options Report)

Crisis or not, top performers on Wall Street still want to get paid.  (WSJ.com also naked capitalism)

That marginal [bond] buyer is gone, and isn’t likely to come back any time in the foreseeable future.(Accrued Interest also Market Movers, MarketBeat)

Yes, fund managers really do underperform.  (Market Movers also CXO Advisory Group)

Another “next Warren Buffett” goes by the wayside.  (NakedShorts)

Be careful lauding pundits who were ‘so right’ when in fact they were ‘so wrong’ for years beforehand.  (Value Plays)

A newly launched ETF is a “solution” in search of a problem. (ETF Expert)

Some ugly credit market data points.  (Alea)

GE Finance is killing GE (GE) stock.  (Aleph Blog, Clusterstock)

Why everyone hates General Motors (GM).  (Deal Journal)

Unwanted auto imports are piling up at U.S. ports.  (NYTimes.com)

Three consecutive monthly declines in CPI and PPI are rare indeed.  (Bespoke)

Usually housing bottoms look like a “V”; this one will probably look more like an “L”.”  (Calculated Risk)

“More than most of the currently popular stimulus ideas, the benefits of increased infrastructure spending really do seem to depend critically on the specifics.”  (macroblog)

“The trouble is, now that the economy is in free fall, it’s going to take more than $2 gasoline to pull us back up.”  (Econbrowser also Crossing Wall Street)

“The rising stock of short-term bills held abroad does potentially leave the US more exposed to a rollover crisis.”  (Follow the Money)

Does the world need “some sort of UN-mandated naval police force”? (FT Alphaville)

“The main point [of Malcolm Gladwell’s Outliers], in economic language, is that human talent is heterogeneous and that the talent of a particular person must mesh with the capital structure of his or her time if major success is to result.”  (Marginal Revolution)

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