Hot Links: According to Internet Math…

Stuff I’m Reading this Morning…

Highest conviction hedge fund exposure by asset class.  (ZeroHedge)

Jobless Claims drop for fifth straight week.  (USAToday)

Someone gave JPMorgan the idea that America was interested in social engagement with it. What a solipsistic bubble of ignorance these people have constructed for themselves to live in.  (Bloomberg) and (BusinessInsider)

Five stocks ready to break out from multi-year bases.  (bclund)

Jeff Gundlach says stocks are the only game in town…for now.  (Reuters)

Tyler Cowen: The robots are already here and taking our jobs. Become a libertarian.  (Politico)

Ari Weinberg on creating a personal investment benchmark.  (BBC)

This is not a story from an alternate universe or different dimension: SnapChat, with a dozen employees, is supposedly worth $3 billion according to internet math.  (NYT)

“While quantitative value strategies focusing on both value and profitability metrics have added significant value to portfolios, they cannot identify which individual stocks you should buy.”  (CBSMoneyWatch)

This pink motherf***er is the most expensive diamond ever purchased at auction.  (TheAtlantic)

The yuppies and old hipsters are getting stoned in public all day with vaporizers.  (NYP)

REMINDER: Backstage Wall Street is now on Kindle!