A handful of links to topics of interest to us at Abnormal returns:

FinanceProfessor.com points to a new paper on seasonality and the January effect in a global data set.

The Capital Spectator posts an (extended) exchange with Michael Krause of AltaVista Independent Research on the prospect for earnings in 2006.

Bloomberg.com reports that Berkshire Hathaway has reduced its bet against the U.S. dollar after incurring significant losses.

macroblog notes that the futures market is pricing in increases in the Fed funds rate in both December and January, eventually pushing the rate up to 4.50%.