James Grant on the risk in riskless Treasuries.  (FT.com also Bloomberg on the Economy)

“Implausible as it may sound, right now equities and corporate bonds are a better long-term bet than cash.”  (Economist.com)

Cheap oil is great at the pump, but does it have risks for companies and countries?  (WSJ.com)

Has the junk bond market properly priced in the economic crisis?  (BusinessWeek.com also Bespoke)

Hedge funds needs to get smaller, more opportunistic and less levered.  (Humble Student, NakedShorts)

When it comes to buy-writes, “Deciding if the premium is ‘fat’ enough is the difficult decision.”  (Options for Rookies also Daily Options Report)

Harvard learned that outsourcing investment management sometimes doesn’t work.  (Big Picture also Clusterstock, Investor’s Consigliere)

The spread between earnings yields and Treasury yields put the Fed Model to the test.  (CXO Advisory Group also Trader’s Narrative)

A 200 day moving average strategy worked..until it stopped working.  (Barrons.com)

Prime brokers are having to take a closer look at their hedge fund clients.  (FT.com)

Neuberger Berman management knows how to buy low and sell high, at least when it comes to its own business.  (Deal Journal)

“The paradoxical truth may be that the less volatile business cycle (until recently) encouraged investors to take bigger risks with borrowed money, driving asset prices too high and ending in damaging busts.”  (Economist.com)

A prepackaged bankruptcy for General Motors (GM)?  (Clusterstock)

The unemployment rate is at a 15-year high.  (FT Alphaville)

Some historical perspective on today’s jobs number.  (Bespoke, EconLog)

How much worse can it get?  (Real Time Economics also Market Movers)

College football has been conquered, in nearly every respect, by the Deep South.”  (WSJ.com)

The best books of 2008.  (Economist.com)

Have we missed an interesting post in the investment blogosphere? If so, feel free to drop Abnormal Returns a line.