Loews (LTR) is prudently (and proudly) sitting on a pile of cash. (WSJ.com)

“87% of all the money in the [hedge fund] business was handled by funds managing $1 billion or more, and 60% was held by managers sitting on $5 billion or more.” (WSJ.com)

The high costs (and indeterminate benefits) of active management. (All About Alpha)

The challenges of measuring (and defining) corporate liquidity. (Broken Symmetry)

Just how much does the financial sector need to shrink as a percentage of the equity markets? (Big Picture)

The Sharpe Ratio of some very well known managers. (World Beta)

“[Fund] managers aren’t going to tell you they bought a stock because they’re friends with the guy who pitched it to them.” (Morningstar.com)

“The Busches have done a miserable job of managing the company, and shareholders have suffered.” (NYTimes.com)

The controversy surrounding David Einhorn and Lehman Bros. (LEH). (NewYork.com)

Oil is outperforming the oil stocks. (Bespoke Investment Group)

The controversy over another blog aggregation proposal. (Bill Rempel, Economic Logic)

Oh no. Wall Street wants a Microsoft-AOL deal. (Valleywag)

The Jim Cramer “gravy train” is over. (DealBreaker.com)

More on the Lenny! stock picking controversy. (Silicon Alley Insider)

“…investment growth will be slowing down over the next year.” (Econbrowser)

Lessons from the other Bill Miller. (Dash of Insight)

“Corporations are simply no good at philanthropy.” (Going Private)

Housing starts are at a 17-year low. (Calculated Risk)

The ‘poison pill’ that is a ‘starve the beast‘ tax policy. (Mankiw Blog)

How much (and where) does the Federal government own the most land? (strange maps)

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