Happy holidays to all of loyal Abnormal Returns readers.  Be safe and enjoy some time off.  The markets will be there when you get back.

On contrarianism.  (Aleph Blog)

The 2010 Bespoke Roundtable is worth a look.  (Bespoke)

Some different approaches to trading ETFs.  (VIX and More)

Here’s hoping for better ETF education in the new year.  (IndexUniverse)

The worst fund launches of the 2000s.  (Morningstar)

David Tepper continues his bet on the banks and a sustained economic recovery.  (The Pragmatic Capitalist)

In praise of active management.  (Derek Hernquist)

Brett Steenbarger, “Quiet markets reveal the best traders.”  (TraderFeed)

A new paper that examines the microstructure of the TIPS market.  (FinanceProfessor)

More signs that 2010 will be the year of M&A. (The Reformed Broker contra Breakingviews)

Has the global economy and the price of oil re-coupled?  (24/7 Wall St.)

In this economic recession Texas is a big winner in terms of migration.  (Fund My Mutual Fund)

Goldman Sachs (GS) bet against its clients in the housing crisis, and won.  (NYTimes also Big Picture, naked capitalism, Clusterstock)

Don’t reconfirm Ben Bernanke.  (Baseline Scenario)

Excess capacity has peaked.  What does it mean for unemployment?  (Economist’s View)

A new value investing blog worth a look. (Simoleon Sense)

How a “very flat and democratic Internet” changed everything this past decade.  (GigaOM)

There is always a bull market somewhere.  The companies are cashing in on the growing international demand for bull semen.  (WSJ Magazine)

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