market folly

Retail investors continue to move into stocks [Pragmatic Capitalist]

Tiger Management alum Steve Shapiro is returning outside investor capital from his Intrepid Capital Management [Absolute Return + Alpha]

An investment analysis of Penn Miller [Above Average Odds Investing]

Another great compilation of notes from Berkshire Hathaway's annual meeting [ValueHuntr]

Is the stock market cheap? [dshort]

Are the inflationistas right? [Pragmatic Capitalist]

Everything you know is wrong [Kirk Report]

Li Lu: Berkshire Hathaway's next CIO candidate? [Street Capitalist]

Previously thought of as possibly the next Warren Buffett, Sardar Biglari has angered value investors with his latest compensation proposal. Here's a letter to the board of Biglari Holdings re: executive compensation [Noise Free Investing] & then more thoughts on Biglari's compensation agreement [My Investing Notebook]

Where things stand in the market [Bespoke Investment Group]

A list of stocks Nasdaq is canceling trades in from yesterday's madness [Business Insider]

The best interest rate chart in the world [Trader's Narrative]

A great macro overview from Barry Ritholtz [The Big Picture]

A look at John Paulson's possible ownership of Bear Stearns CDOs [Zero Hedge]

John Mauldin on the future of public debt [Advisor Perspectives]

Top buys & sells from Morningstar's ultimate stock pickers [Morningstar]

The truth about 'Sell in May & Go Away' [WSJ]

An interview with hedge fund manager Hugh Hendry [Investment Week]

Bill Ackman: Let's have a public registry for stock opinion [Barron's]

Hedge fund Harbinger hires ex-Orange chief for wireless plan [Dealbook] & Deutsche Telekom has been in talks with Harbinger [FT]

Hedge funds begin to restructure fee system [FT]