Long-short mutual fund performance has been spotty in 2007. (WSJ.com, Infectious Greed)

British financier Joseph Lewis now owns nearly 10% of Bear Stearns (BSC). (WSJ.com)

“Volatility is largely event driven.” (All About Alpha)

Some thoughts on volatility and risk.  (VIX and More)

“Pundits without a track record lack accountability.” (A Dash of Insight)

Will sector performance trends continue in 2008? (Barrons.com)

Howard’s largest stock positions. (Howard Lindzon)

A graphic version of the ugly Case-Shilller median home price data. (Bespoke Investment Group)

Recent economic data come in not so hot. (Big Picture)

The world needs more farmed fish. (Economist.com)

Movie rentals are coming to Apple’s iTunes store. (Silicon Alley Insider, ibid)

Thanks for checking in with Abnormal Returns where your questions and/or feedback is always appreciated.