Scary talk about how quant fund deleveraging could bring about a ‘liquidity event.’ (Zero Hedge, ibid)

There is an air of exodus on Wall Street — and not just among those being fired.” (NYTimes.com also Clusterstock)

What is the state of investor sentiment? (Trader’s Narrative, Technical Take)

“If you have any common sense, you will not get levered to this rally.” (Howard Lindzon)

Is the Credit Suisse Fear Barometer there a better “fear index” than the VIX? (Barrons.com)

“The goal during bull markets is to grow your capital; the goal during bear markets is to protect your capital.” (Big Picture)

“Any good fund manager will tell you that, in hindsight, his best stock picks weren’t his best ideas.” (Felix Salmon)

Goldman Sachs (GS) raises a huge fund dedicated to buying second-hand private equity stakes. (WSJ.com, Dealscape)

“With most of America’s biggest banks insolvent, you have, in essence, a multitrillion dollar cover-up by publicly traded entities, which amounts to felony securities fraud on a massive scale.” (Barrons.com)

What is the Fed’s game against the auto maker bondholders? (Atlantic Business)

Steve Jobs is still reportedly in charge of Apple (AAPL). (WSJ.com)

A handful of quick reviews of some recent investment books. (BusinessWeek.com)

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