“If 2008 was the year of systemic risk, particularly in the financial sector, 2009 seems likely to be a year dominated by specific risk.”  (Economist.com)

“So why buy bonds?”  (Market Movers)

Activist investors have stepped up their efforts.  (WSJ.com)

Bill Miller: bad year, great December.  (Clusterstock)

Read 2009 Investment Guides with a large grain of salt.  (Big Picture)

“So, our hat is off to Doug Kass: The Peerless Prognosticator of Palm Beach.”  (Jeff Matthews)

How many “Dr. Doom’s

” are there?  (The Stalwart)

Is GMAC a mini-AIG in the making?  (naked capitalism)

“Which private-equity firm’s going bust first? ”  (VanityFair.com)

Is this a rich person’s recession?  (Silicon Alley Insider

)

“The only way not to be fooled by your instincts is to rely solely on objective facts.”  (Baseline Scenario also Dealbreaker)

Is the Swedish central bank doing us a disservice by awarding Nobel prizes to financial economics?  (Free exchange)

The next generation of smart, young economists.  (Economist.com)

Chess is now a young man’s game.  (Marginal Revolution)

Want to make sure you don’t miss any Abnormal Returns posts? Feel free to add our fan-friendly feed to your favorite feed reader.