For your viewing pleasure a handful of interesting links.

Daily Dose of Optimism has an interesting quote from Bill Miller on how value investments work, in part, due to time arbitrage.

Christine Benz at has five new year’s investing resolutions.

Gregg Wolper at lists his five biggest (mutual fund) surprises of 2005.

The always excellent Daniel Gross in on the year of the hedge fund. Note our earlier post of the same name. Gross asks the question –  are hedge funds following mutual funds into the realm of mediocrity?

Emma Trincal at highlights some research that calls into question the future health of the hedge fund of funds industry.

John Waggoner in the USA Today on whether the current low return environment has tempted investors to take on too much risk to fulfill their return expectations.

Jen Ryan in the Wall Street Journal profiles PowerShares Capital Management and their attempt to secure a niche in the increasingly crowded ETF world.

We love the headline from this James Altucher piece in – “Ignore All Economic Predictions in 2006.”