Counterparty risk…the next big market meme. (Market Movers , Zero Beta)

Was the TAF a success? (A Dash of Insight)

Activist investors don’t always win. (Reuters DealZone)

The same goes for Joseph Lewis and his investment in Bear Stearns (BSC). (Deal Journal)

Three “trapdoors” for Goldman Sachs (GS). (Economist.com)

Hedge fund consolidation continues apace. (InvestmentNews)

“Most simple arbitrages are short an option somewhere.” (Aleph Blog)

Is equity volatility entering a new (higher) regime? (FT Alphaville)

Research into bond and stock market seasonality. (CXO Advisory Group)

A closer look at a 130/30 equity mutual fund prospectus. (All About Alpha)

The 2008 buy list, but don’t expect to see many “turnaround stocks.” (Crossing Wall Street, ibid)

Speaking of 2008, a sagacious list of predictions. (Daily Options Report)

A happy (one year) blogiversary to naked capitalism. (naked capitalism)

A handful of insights on intelligence, well-being and happiness. (TraderFeed)

Another dose of holiday book ideas. (Big Picture)

Tailgating is now an “industry.” (LATimes.com)

Thanks for checking in with Abnormal Returns. Feel free to send us your questions and/or comments.