The three stages of a bear market. (Deal Journal)

Alan Greenspan has jumped the shark. (Infectious Greed)

“The bottom line is that Bear went under because of the poor judgment of their management…” (Big Picture)

There is only one way Bear Stearns (BSC) sells for $2 a share. (Market Movers)

“It appears to be the case that the Fed wanted Bear to fail,” Mr. [Bill] Miller says. (WSJ.com)

Barry Ritholtz writes, “It was so obvious it was going to fall apart eventually. What is so amazing is how long it took to actually happen.” (Esquire.com)

The language of financial catastrophe. (DealBreaker.com)

“(A) recurring theme in the current crisis is that whatever you always thought was safe is not safe.” (Interfluidity)

The market really is careening around all over the place. (Bespoke Investment Group)

Gold market timers are running for the exits. (Marketwatch.com)

“One particularly uncomfortable truth for traders is that their lack of profits is simply due to trading randomness.” (TraderFeed)

“(A) general truism about human nature: if our decisions have good outcomes, we tend to assume that this is due to our native genius. We entirely discount the role of luck, aka random chance.” (Megan McArdle)

Can CTAs successfully time the futures markets? (CXO Advisory Group)

Why are repo fails at record levels? (naked capitalism)

Somebody sees some opportunity in the mortgage market. (DealScape)

Examining the spread between the 10 year note and 30 year mortgages. (Calculated Risk)

ECRI calls the recession. (Curious Capitalist)

“The best long-run bet is still that there is nothing special about risk-adjusted rates of return on commodities.” (Marginal Revolution)

Historical U.S. recession probabilities. (Economist’s View)

Money, happiness and “prosocial behavior.” (TierneyLab)

Thanks for checking in with Abnormal Returns. We appreciate any (and all) feedback.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.