“No matter how long your investing horizon may be, the risk of owning risky assets can never go to zero.”  (WSJ.com)

Is ‘buy and hold‘ dead or alive?  (MarketSci Blog also IndexUniverse.com)

Talk out there is that hedge funds are holding lots of cash overnight.  (Zero Hedge)

Does it matter that yesterday was a “Lowry 90%-90% day“?  (Trader’s Narrative)

The battle for the country’s largest market cap is now a rout.  ExxonMobil (XOM) trumps General Electric (GE).  (Bespoke)

Is General Motors (GM) a lost cause?  (Dealbreaker)

Whatever happened to speculator limits on the NYMEX?  That means you, US Oil Fund (USO).  (FT Alphaville)

Active managers were unable to add value in this bear market.  (Morningstar.com)

Leveraged loan bankruptcy recovery rates have plunged in this crisis.  (Bull Bear Trader)

“I’ll take shaky technical tools over fundamentals in a time of crisis every time.”  (Behind the Headlines)

“When markets fail to provide their usual communications, they’re usually communicating something important.”  (TraderFeed)

“I don’t think adjusting earnings multiples for the economic cycle is a sound idea.”  (Crossing Wall Street)

Does the fall in the Yen signal an end to the “acute phase” of the crisis?  (Gregor.us)

“Why is the government so reluctant to hand losses to the bondholders?”  (Atlantic Business also Clusterstock)

Just what is a “zombie bank“?  (Big Picture)

“The bottom line is that the government will support the credit system a great deal and in many innovative ways, but Treasury will try really hard to avoid FDIC-type takeovers/reprivatizations of large banks.”  (Baseline Scenario)

Will the TALF do what it is expected to?  (Economist’s View)

Bank stress tests depend on their underlying assumptions. Are the Feds being pessimistic enough?  (Real Time Economics, Calculated Risk, Economix, Free exchange)

“Much as it pains me, housing prices need to come down a lot more for the sake of the country. It’s not that the housing market has suddenly gotten sick and needs medicine. It was sick, and it’s getting better.”  (Time.com)

Can former Wall Streeters lead a boom in entrepreneurial activity?  (Information Arbitrage)

Twitter should go public, in a small way.  (Dealscape, DealBook, Howard Lindzon)

Another benefit of caffeine.  (LiveScience.com)

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