Worst year for Berkshire Hathaway (BRK-A) ever.  (WSJ.com, FT.com, 2008 Shareholder Letter)

Some of our favorite reactions to the Buffett letter.  (Infectious Greed, Jeff MatthewsReal Time Economics, 24/7 Wall St., Market Movers, Crossing Wall Street, Alea, Aleph Blog)

Is the dividend cut at General Electric (GE) a harbinger of more to come?  (WSJ.com, 24/7 Wall St.)

The Citigroup (C) math does not add up.  (Baseline Scenario, Market Movers also Zero Hedge)

Value stocks have not been a hiding place in this bear market.  (WSJ.com)

Are REIT yields worth the risk?  (NYTimes.com)

Leveraged ETFs are for day traders. You can’t manage long-term risk with a short-term tool — especially not with one that can blow up in your face.”  (WSJ.com)

The state of market sentiment measures.  (Trader’s Narrative, The Technical Take)

How low can stock prices go, and how worried should you be?”  (Econbrowser)

The solution to the problem of too much debt is not more debt.  (Infectious Greed)

You cannot fix the financial system if capital remains locked up in zombie banks.  (Interfluidity)

A bailout of A.I.G. is really a bailout of its trading partners — which essentially constitutes the entire Western banking system.”  (NYTimes.com)

The economic downturn will end, “when you stop asking.”  (NYTimes.com)

“It is no coincidence that we learn about the scandals after the bubbles burst.”  (Floyd Norris)

“Everyone who likes it [El-Erian’s When Markets Collide]  is wrong. It is in fact unreadable; I only managed to get through about 100 pages and had to put it down. It is a bad book.”  (Ultimi Barbarorum)

Advice on how to go from Wall Street to a start-up.  (Information Arbitrage)

Was the Santelli rant “staged”?  (Big Picture, Clusterstock)

Should TheStreet.com (TSCM) charge more or a lot less (like free) for Cramer?  (Howard Lindzon)

Rumors that Google (GOOG) might buy Twitter.  (The Big Money)

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