Harvard is planning for a 30% decline in value of its endowment.  (WSJ.com also Market Movers, Marketwatch.com)

The world of alternative investments under siege:  Fortress, Carlyle, D.E. Shaw, Farallon and Thomas H. Lee. (also NakedShorts, DealBook)

Are investors done being surprised at bad economic numbers?  (MarketBeat)

“An extended stretch of volatility is baked into the market now no matter where you look.”  (Daily Options Report)

A “simple” look at the technical state of the S&P 500.  (Big Picture)

Serial bottom-caller Bill Miller strikes again.  (1440 Wall Street, Clusterstock)

Has China bottomed?  (VIX and More)

What would it take to create momentum (and reversal) ETFs?  (CXO Advisory Group)

“But most bubbles are the product of more than just bad faith, or incompetence, or rank stupidity; the interaction of human psychology with a market economy practically ensures that they will form.”  (The Atlantic via Clusterstock)

The private equity model is “broken.”  (BusinessWeek.com)

Could below market mortgages put a dent in the current housing crisis?  (Calculated Risk)

Fun(ny) facts from the Big Three.  (Dealbreaker)

“The sad fact is that the U.S. auto industry has essentially failed.”  (Slate.com also Market Movers)

Chicago is setting the stage for future parking meter vandalism.  (Curious Capitalist)

“The arrogance propagated in business school(s) may well have contributed to the financial crisis.”  (Free exchange)

Eliot Spitzer joins the blogosphere, thinks “It is time we permitted the market to work…” (Slate.com also Silicon Alley Insider, Market Movers)

Are you curious what other bloggers are saying about Abnormal Returns? So are we. Feel free to check out a compilation of reviews.