Tuesday Links

Hussman: "That said, the type of short-squeeze behavior we saw last week has a nasty tendency to be whacked within a fairly short window, so market action in the next few weeks could have more than the usual amount of information content."

Hedge Fund Research Inc.'s HFRX Global Hedge Fund Index ended the month down 1.59%, for a 2.12% year-to-date fall, marking a second losing month after May's 1.39% decline.

Groupon: "Management begs us to look at consolidated segment operating income. This metric is operating income with add-backs for online marketing expenses, stock-based compensation, and acquisition-related expenses. Of course, these adjustments have no economic foundation and serve only to create a value that is in the plus column. Rational investors will ignore this nonsense and perceive that it distracts one from important numbers like net income."

Bubblelicious Chinese Construction Charts