Bonds beat stocks:  “Over the last 30 years there’s been no risk premium.”  (Bloomberg.com also Crossing Wall Street)

Three myths about stocks in the 1930s.  (Barrons.com)

How likely is a Dow 5000?  (WSJ.com, Clusterstock)

Remember the Fed Model?  (Big Picture)

Portfolio re-balancing doesn’t always work.  (WSJ.com)

The decline in financial stocks has exceeded the technology stock debacle earlier this decade.  (MarketBeat)

A couple of measures, cash on the sidelines and equity market cap/GDP, point to a bottom in stocks.  (Barrons.com)

What is going on with sentiment indicators?  (Trader’s Narrative, Technical Take)

What would happen to the equity indices if all the financial stocks went to zero?  (ROI)

“(D)eath by 1000 cuts will not likely trigger a VIX spike.”  (VIX and More)

Why are gold stocks underperforming the metal?  (Humble Student)

“Hedge fund investors who made money last year by betting against investment banks are now buying gold as a way of betting against central banks.”  (FT.com)

Finally a good day for the merger arbitrage crowd.  (Deal Journal)

“When we see a historical trading pattern failing to hold up in the most recent portion of the data set, it’s a good sign that market regimes have shifted.”  (TraderFeed)

“So my feeling is that Berkshire has moved from being a safe-and-sound stalwart to being a much riskier stock.”  (Market Movers)

Should Google (GOOG) be paying a dividend?  (Tech Trader Daily)

Inside the meltdown at Harvard Management Company.  (Forbes.com)

Corporate earnings are going to take a hit from underfunded pensions.  (Zero Hedge)

What firms didn’t get government funds when AIG got bailed out? (WSJ.com, Dealbreaker, Market Movers, The Stash, naked capitalism)

PennyMac is doing more to solve the housing crisis than any government program.  (Clusterstock)

“Wall Street sure seems to have been a racket. At least that is the conventional wisdom on Main Street and in the halls of Congress. It is hard to argue they are completely wrong.”  (Epicurean Dealmaker)

“Firms may be too big to fail, but the people who make them that way needn’t be invulnerable.”  (Interfluidity)

Canadian banks are standing tall in this crisis.  (WSJ.com)

Five reasons for economic optimism, including “consumers are adapting to the new economic reality, and fast.”  (Time.com)

Consumers are getting a bonus from lower oil prices.  (Calculated Risk)

The U.S. economy is going to have to reform while it rebounds.  (macroblog)

Will the markets eventually run out of confidence in the Feds?  (Baseline Scenario also Information Arbitrage)

How current market craziness is helping to grow StockTwits.  (IBD.com)

I think it is safe to say that Barack Obama does not read this blog.  (Politico.com)

Have an idea to solve the banking crisis?  Call Tim Geither at 1-800-IDEAS?.  (Hulu.com)

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