Hedge funds are on track for their best start to the year since 1999.  (WSJ also BusinessWeek)

Has the high yield rally run its course?   (WSJ)

“Many ETF investors do far worse than a buy-and-hold strategy.  Essentially, the ETF facilitates all of the worst psychological traits of the individual investor.”  (A Dash of Insight)

Indexing isn’t perfect, but it beats the alternative.  (The Psy-Fi Blog)

Is there a better three-factor model out there?  (Journal of Finance)

General Electric (GE) is benefiting greatly from the TGLP.  (WashingtonPost)

Why are the banks reluctant to see a public auction for their TARP warrants?  (Baseline Scenario, Felix Salmon)

The PPIP is limping along as both buyers and sellers fail to commit to the program.  (WSJ, Atlantic Business)

The $100,000 CRA Challenge goes out.  (Big Picture, John Carney)

The CMBS market is facing a big downgrade.   (Clusterstock)

“A consumer-finance agency is a good thing, but it would do well to teach consumers a simple lesson: if you don’t understand the deal you’re making, don’t make it.”  (NewYorker)

The Chinese like to spend money as much as we do.  (Atlantic Business, Fund My Mutual Fund)

How much longer will the world tolerate US fiscal policy? (Economist’s View)

“Government has no profit motive.”  (Jeff Matthews)

Free is not the only business model in the Internet age.  (NewYorker)

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