Matthew Goldstein in writes that Refco may claim another victim. Apparently there are questions as to the relationship between a PlusFunds principal and the now defunct broker, Refco. The story is interesting in part because of the numerous ties between a number of Wall Street firms.

Michael Kahn at Barron’s is skeptical, but “..cannot write off the bull market just yet.”

Chart of the Day graphs how the first five days of January affects future returns.

Mark Hulbert at notes the relative calm in the market in 2005 presages “…another year of relatively listless market action.”

Mark Gongloff, Scott Patterson, and David A. Gaffen in a “Trading Shots” piece at the comment on the prospects for three favored asset classes.

Ian McDonald in the Wall Street Journal notes that an increasing number of stocks have higher after-tax yields compared to treasury bonds.

Tom Lauricella and Diya Gullapalli in the Wall Street Journal rehash the actively managed vs. index fund debate. In short, don’t let short-term trends in performance sway your belief one way or another.

Daniel Drezner notes that two Pacific Rim countries are taking different approaches towards the U.S. dollar.

James Hamilton at Econbrowser wonders why the oil shock of 2005 did not seem to have much bite?

Not that they needed it, but Emma Trincal at highlights a little noticed piece of legislation that makes it easier for hedge funds to attract pension fund assets.

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