David Swensen of Yale fame sees “extraordinary opportunities” in distressed debt.  (Bloomberg.com)

If you are looking for safety, cash is still very much your friend.”  (Market Movers also Clusterstock)

The odds point to an up January.  (Ticker Sense also Curious Capitalist)

Sector leadership tells us what kind of market we are in.  (Barrons.com)

Some mutual funds that were down a ‘dubious’ 60% for 2008.  (WSJ.com)

Even Berkshire Hathaway could not escape the downdraft in 2008.  (Telegraph.co.uk)

Hints that risk appetites are rising.  (TraderFeed)

The worst footnote of 2008 is a doozy.  (footnoted.org)

Value creators can still make money in this environment.  (A VC)

Five ideas for 2009.  (World Beta)

Volatility has gotten smacked around in a big way.”  (Daily Options Report)

The 2008 Volatility Awards.  (VIX and More)

“For traders (and humans generally), the salient point here is that being a successful agent has much more to do with creating the conditions for success than with “conscious” decision-making.”  (Condor Options)

What the ‘doomsayers‘ see for the economy and markets in 2009.  (WSJ.com)

Some eerie parallels via Google Trends.  (Infectious Greed)

The difference between a recession and a depression.  (Crossing Wall Street)

Trade finance is collapsing.  (Econbrowser)

Expect a pick-up in protectionist rhetoric.  (Daniel Drezner)

Should the Fed target asset prices directly?  (FT.com also Economist’s View, ibid)

Times are tough.  Race horse prices are down some 40%.  (Clusterstock)

“What game-changing scientific ideas and developments do you expect to live to see?”  (Edge.org)

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

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.