This report identifies the “best” ETFs and mutual funds based on the quality of their holdings and their costs. As detailed in “Cheap Funds Dupe Investors”, there are few funds that have both good holdings and low costs.

Insider buying increased last week with insiders buying $36.57 million of stock compared to $29.59 million in the week prior. Selling declined precipitously with insiders selling $292.66 million of stock last week compared to $819.56 million in the week prior.

September E-mini S&Ps (ESU14 +0.05%) this morning are unchanged and European stocks are down % after a composite gauge of European manufacturing and services activity slowed to its slowest pace in 6 months.

Those that consider specialty chemicals producer ASH a “value” stock are mistaken. The stock is cheap by traditional metrics such as price to earnings, but a closer look reveals the value to be an illusion.