A reversal of the risk trade as investors sell junk bonds.  (naked capitalism also FT Alphaville)

2009 was a banner year for hedge funds as assets under management rebound to $1.6 trillion as 2000 funds close up shop.  (Fortune)

“Credit crisis” hedge funds are closing up shop.  (Crain’s NY via Dealbreaker)

UK fund managers don’t trust private equity (and their IPOs).  (FinancialNews)

Eddy Elfenbein, “The Fed is moving away from its basic function of being a central bank.”  (Crossing Wall Street)

On the benefits of following using a “mirroring” investment model.  (New Rules of Investing)

The efficient markets hypothesis needs a new more descriptive name.  (Rajiv Sethi via Economist’s View)

A “financial expertise arms race” may have led to an overinvestment in financial technology.  (SSRN)

A great deal of chatter about how the “era of high joblessness” is going to transform America?  (The Atlantic also Baseline Scenario)

What happens when the Federal government stops supporting the housing market?  (NYTimes)

State budgets have been a persistent drag on output, offsetting much of the discretionary boost from stimulus.”  (Free exchange)

How good is retail sales at forecasting GDP?  (Big Picture)

Why Germans will not dip into their pockets to bail out Greece.  (FT Alphaville, NYTimes also The Money Game)

Is Goldman Sachs (GS) at risk in Euroland due to its dealings with Greece?  (Baseline Scenario)

Paul Vigna, “The Greeks have spent a decade trying to live as part of the Eurozone, but they squandered the benefits it brought and now the masquerade’s about over.”  (DJ Market Talk)

Is China poised to revalue the renminbi by up to 5%?  (FT Alphaville)

Steve Randy Waldman, “Both globally and within most nations, the patterns of consumption required to sustain existing social arrangements are inconsistent with the distribution of the fruits of production”  (Interfluidity)

Hank Paulson doesn’t think the Volcker Rule will work.  (Telegraph UK)

There is plenty of outrage to go around when looking at corporate boards of directors.  (Fortune)

Very funny.  Match the headline with the blog.  (The Reformed Broker)

The growing gap between college enrollment rates and graduation rates.  (Economix)

How many of your Facebook “friends” do you count amongst your “real life social circle of support”?  (The Frontal Cortex)

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