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Dow 17,000 Doesn’t Matter – Morning Linkfest (July 14)

Your daily dose of some of the best reads elsewhere on Wall Street


We love financial market milestones. Investors seem to be drawn to these big, round numbers like moths to a flame. They’re a beacon for portfolios — or at least that’s the perception. To be honest, they’re just bunk. Maybe they have some meaning for the technical guys or traders , but for the rest of us, Dow 17,000 doesn’t really effect our long investing goals. Here’s Market Watch’s Chuck Jaffe on why you shouldn’t look at milestones.

Financial Sense (Lance Roberts): Speaking of Dow 17,000 and market milestones — are a new cadre of Robo-Advisors a sign of the top?

Clear Eyes Investing (Todd Wenning): Maybe we should just own fewer stocks. Not as a percentage of your portfolio, just a smaller number of firms.

Vanguard’s Advisor Blog (John Woerth): Still, now is a great to time to be an investor and put some money to work.

Morningstar/The Rekenthaler Report (John Rekenthaler): And while you’re investing for retirement, focus on income, income and more income.

The New York Times’ DealBook (Rachel Abrams & Jessica Silver-Greenberg): Predatory practices in the student loan industry? Shocking, I know. (Andy Tully): According to BP (BP), we only have about 53 years’ worth of oil left. So how about that solar?

Naked Capitalism (Yves Smith): So will oil and natural gas be the next big bubble? A subprime in the making?

Chicago Tribune (Caroline Copley): A sweet merger Monday. Swiss Chocolatier Lindt makes a move for Russell Stover.

Slate (Jordan Weissmann): Like ‘Merica? Then you should be drinking hefty amounts of craft beer. For Freedom!

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