“Consistently profitable trading should be boring.”  (Tickerville)

“(I)t’s not different this time, next time or any time. It never is and never can be.”  (The Psy-Fi Blog)

The bullish bandwagon is getting crowded.  (Clusterstock, FT Alphaville)

Check out the rally in corporate bonds.  (WSJ, MarketBeat)

Real yields are at their highest level in 15 years.  (EconomPic Data)

What the increase in TIPS issuance implies.  (Across the Curve)

How much farther does the downward run in the VIX have to go?  (VIX and More)

A firm can only cut costs for so long. “At some point, a business needs to expand to survive.”  (Crossing Wall Street)

Doug Kass recommends holding a bunch of cash.  (TheStreet)

Do hot hands exist among hedge fund managers (and institutional investors)?  (Journal of Finance, ibid)

Are smaller hedge funds a vanishing breed?  (FT Alphaville)

Blackrock (BLK) is giving individual investors a chance to invest alongside in the PPIP.  (NYTimes)

Does the hedge fund pay model actually induce “more prudence”?  (naked capitalism also Felix Salmon)

Explaining some of the finer points of high frequency trading.  (Kid Dynamite)

Goldman Sachs (GS) doesn’t care what you think about them:  “If we can push the envelope without D.C. punishing us, we don’t care about our Main Street reputation. Blankfein in particular is said to be dismissive of the firm’s critics.”  (NY Magazine also Planet Money, Dealbreaker)

Credit derivative exposure is concentrated in five Wall Street firms.  (Clusterstock)

Loans outstanding remain under pressure.  (WSJ)

The End of the End of the Recession:  a mash-up.  (Zero Hedge)

The recession is likely over.  What kind of recovery comes next?  (Newsweek also Big Picture)

“If corporate America seems to think—as home-buyers now seem to be thinking—that the time is right to convert low-earning cash into a higher-earnings hard asset, we’re in for a surprisingly strong recovery.”  (Jeff Matthews)

New home sales may have bottomed, but there still remains an overhang.  (Calculated Risk, Free exchange)

Is the worst of the slump in global trade over?  (Economist)

Should Bernanke be reappointed?  (Marginal Revolution, The Pragmatic Capitalist)

An interview with Todd Harrison.  (Wall St. Cheat Sheet)

“As with all get-rich schemes, one question is never answered:  if the system is that good, why doesn’t the promoter simply get rich using it themselves.”  (FT Alphaville)

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