Links for today

Here’s what I was reading and thinking about when I wasn’t admiring the dreamy first snow falling on the Sacramento Mountains in New Mexico. Sure is pretty!

The Dream Team of Investment Managers – David Merkel with an interesting take on some of the best managers in the profession.

Will European Debt Solution Work? and Live Updates: Reaction to EU Plan – The answer to the first question is, in my estimation — yes, it kicks the can down the road for a little while, maybe a year or two and then no after that.  As I put in in my chat on yesterday:

“Upshot is that I don’t think there’s anything that the EUcrats can do except further kick the can down the road. If they pull that off and the market decides that it’s still backstopped by taxpayers, then we’ll have a big near-term rally. If not, the markets will likely get hit near-term.”

The markets are up about 2% across the board here in the early going, with breadth 10 to 1 positive. Apparently the bears and shorts I know aren’t a minority out there — this type of now panicky buying comes from shorts being squeezed out of their positions and bears running for the hills.  With our portfolios blasting to new highs, I’m selling 1/4 of my Bank of America BAC common stock position for a 25% gain in less than a month. I’ve also been trimming down other longs this week too.

Netflix: ignore Wall Street – I’ll just quote Lefsetz from the article: “You can’t stream what you want with Netflix NFLX. If you could, we wouldn’t be having this debate, there would be no hoopla. Don’t shine the light on Reed Hastings, shine it on the studios who make these movies and television shows, they want to live in the land of darkness, just like the record labels, and they’re going to get hurt by it. Hell, they’re already being hurt, DVD sales keep falling. What’s their plan? Hell, they can’t even figure it out with exhibitors, the studios want VOD day and date of the release in theatres and the theatre owners don’t. And who’s left out? THE PUBLIC!”

A few select growth stocks break out – From Marketwatch’s Trading Deck. Marder cites Chipotle  CMG and Under Armor UA as breakouts, among others. I see Checkpoint CKPand Intel INTC trying to fully break out too. Hmm.

The Best Financial Youtube Video Of All-Time? – A little levity to finish.

Cody Willard writes Revolution Investing for MarketWatch and posts the trades from his personal account at At time of publication, Cody was net long BAC.