A Dow Theory buy signal.  (Investment Postcards)

Post-rally where do we stand compared to previous bear markets?  (dshort)

A closer look at the S&P 500/gold ratio.  (Buttonwood)

After a rapid rise, some stock market skepticism.  (The Pragmatic Capitalist, Market Talk, Bespoke)

Warren Buffett is now cleaning up on his position in Goldman preferred stock.  (DealBook)

“The reach for yield is back with a vengeance as some investors have been forced to jump into the far reaches of the junk bond market to boost returns.”  (Agnes Crane)

Great.  Another index the CBOE S&P 500 Implied Correlation Index to watch.  (VIX and More, Daily Options Report)

Just how much profit to be made in high frequency trading? (NYTimes also Zero Hedge, TraderFeed, Bronte Capital)

How some large investors using the SPDR Gold Shares (GLD) ETF.  (IndexUniverse)

Hedge funds are outsourcing all sorts of functions.  (FINalternatives)

Is the Adapative Markets Hypothesis a worthy successor to the EMH?  (FT Alphaville)

Perhaps a naive 1/N portfolio strategy isn’t all that sub-optimal.  (SSRN)

Cerberus and Fortress are trying to right their respective ships.  (Breakingviews, FT)

Did bad publicity cause Goldman Sachs (GS) to pay more than they had to retire their TARP warrants?  (Deal Journal, Clusterstock)

Citigroup (C) has Goldman envy.  Pandit is rebuilding a proprietary equity trading desk.  (Matthew Goldstein)

“The No. 1 reason these two banks [Goldman and J.P. Morgan] are doing so much better than their rivals is that they’re better at what they do than their rivals are.”  (Time)

“The era of financial globalization may be coming to an end.”  (NYTimes)

“The political consequences of Peak Finance greatly complicate our economic recovery.”  (Baseline Scenario)

“Simply put, the danger is that in even a moderate recovery, the remaining expanding sectors will lack sufficient strength to compensate for these permanent [job] losses.”  (Tim Duy’s Fed Watch)

Why has the unemployment rate run up so far, so fast?  (macroblog)

Demand for electricity is still languishing.  (Mish)

“Basically, Summers took a massive gamble with Harvard’s money, and lost — big. The buck stops with him, and I look forward to Summers admitting as much sooner rather than later.”  (Felix Salmon)

How much should we worry about the impact of H1N1 on the markets this Fall?  (Economist)

Should Cisco (CSCO) buy Dell (DELL)?  (GigaOM)

Some additional thoughts on Covestor Investment Management business model.  (Abnormal Returns)

A positive review of A Colossal Failure of Common Sense:  The Inside Story of the Collapse of Lehman Brothers.  (BusinessWeek)

Apparently CNBC can take a joke.  (CNBC)

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