Thursday links: a bull market in new ETFs

16Apr09

Where does the S&P 500 stand relative to its moving averages.  (Bespoke)

Real buyers” have been absent from the current rally.  (FT.com also Clusterstock)

“(V)ast systematic volumes of quant strategies in various time frames have become destabilizing factor due to convergence of strategies.”  (Zero Hedge)

Why are quants underperforming in this market rally?  (Clusterstock)

If one hedge fund ETF, IQ Hedge Multi-Strategy Tracker (QAI), is good, fifteen must be better.  (IndexUniverse.com also Random Roger)

3x leveraged Treasury ETFs are on the way.  (ETF Trends)

Convertible bonds get their first ETF, the SPDR Barclays CapitalConvertible Bond ETF (CWB).  (IndexUniverse.com)

Is there a “huge backlog of companies” ready to file for IPOs?  (BusinessWeek.com)

Managers’ “best ideas” tend to outperform the market.  (SSRN.com)

On the challenges of profiting from options overpricing.  (Daily Options Report)

Don’t always take at face value everything an “expert” says.  (Crossing Wall Street, Dealbreaker)

Managers who maintain a consistent investment style tend to outperform their peers.  (SSRN.com)

The number of “fallen angels” is on the rise.  (FT Alphaville also Felix Salmon)

Not your every day bankruptcy filling.  The second largest shopping mall operator, General Growth Properties (GGP) files Chapter 11.  (BusinessWeek.com, Value Plays, Distressed Debt Investing)

Do we really want the results of the bank stress tests public?  (The Stash)

Banks are just a part of the toxic asset problem.  (DealBook)

The last great experiment in working through financial crisis took longer than expected, involved some accounting pushing and shoving at the outset, confronted a skeptical Congress, and cost more than initially projected, but quite a lot less than feared.”  (macroblog)

The government’s forbearance strategy is fragile unless big banks do as the supervisers tell them.  But Goldman and other major players apparently think they have so much political power…that they can ignore the supervisers.”  (Baseline Scenario)

Is is premature to celebrate a turn down in initial unemployment claims?  (Capital Spectator, Market Movers, Real Time Economics)

A new index of business conditions indicates the worst may be over.  (Econbrowser)

“Rather than a V-shaped recovery, at the global level we may be looking at something more like an L-shape; we go down and we stay down.”  (Economix)

Is the Fed losing the battle against deflation?  (WSJ.com also Economist’s View)

“China’s State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons.”  (Telegraph.co.uk)

(T)he future of the alternative-energy industry now depends far more on financial engineering than mechanical engineering.”  (Slate.com)

“In a time where government intervention is growing, it is all the more important to tell people that they can’t rely on the government.  The government is broke.  So will be those that exclusively rely on it.”  (Aleph Blog)

How to use StockTwits.  (Howard Lindzon)

Twitter seems to have become the new media darling pushing aside Facebook.  (GigaOM, Bits, A VC, Silicon Alley Insider)

Goofing around goes way back, according to a new theory that suggests society can break down when we don’t take time to play.”  (LiveScience.com)

Thanks for checking in with Abnormal Returns. Feel free to contact us with any questions and/or comments.

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