Activist hedge fund investing, done right, is labor intensive.  (WSJ.com)

Carl Icahn this makes up for the whole Yahoo! (YHOO) fiasco.  Bristol-Meyers (BMY) offers to acquire ImClone (IMCL).  Did T. Boone Pickens piggyback on this deal as well? (DealBook)

This seems to be a misreading of the rules.  (Big Picture)

Jeremy Grantham is “officially scared.”  (Investment Postcards)

This whole socially responsible investing thing is harder than it looks.  (WSJ.com)

Can your hedge fund exceed the “Berkshire hurdle“?  (The Investor’s Consigliere via Market Movers)

Can Bill Miller’s Legg Mason Value’s (LMVTX) return to is winning ways?  (Morningstar.com also DealBook)

Apple (AAPL) is building up quite a cash hoard.  (BusinessWeek.com)

Do you really have the stomach for frontier market funds?  (CNNMoney.com also IndexUniverse.com)

Lumber prices are in the tank.  Are better times ahead?  (Market Blog)

Some intermarket relationships have changed of late.  (Afraid to Trade)

“In theory, implied volatility should also be directionally agnostic.”  But it isn’t.  (VIX and More)

Market follow-through has become scarce.  (MarketSci Blog also Bespoke Investment Group)

Technical analysis sucks (according to an academic study).  (Infectious Greed)

Successful traders network with other traders.  (TraderFeed)

“When you have an analytic technique that people do not understand or follow, you have a meaningful edge.”  (Dash of Insight)

Delaying the inevitable.  Companies get another year to implement new FASB rules on off-balance sheet items.  (NakedShorts, Big Picture)

A huge shift in the source of mortgage loans.  (Curious Capitalist)

More signs of a global recession.  (naked capitalism, FT Alphaville)

Recession, not a recession.  GDP finally shrinks (in Q4 2007). Then again maybe we are reading too much into these economic “estimates.” (Odd Numbers, Real Time Economics, Crossing Wall Street, Market Movers)

The ad slowdown is selective in the damage it has wrought.  (Silicon Alley Insider)

Apparently some people will blog for free.  (Gawker.com, Free Exchange)

$1.3 billion for the Chicago Cubs…they’d better win the World Series to justify that price. (TheDeal.com, ibid)

Speaking of baseball, ten things NOT to worry about, including that ballpark hot dog.  (NYTimes.com)

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