How dull have the last two market days been?  Historically dull.  (Bespoke)

Should Goldman Sachs (GS) trade with a single-digit P/E ratio?  (Peridot Capitalist)

The short case for (really against) Berkshire Hathaway (BRKA) stock.  (Greenbackd)

Bruce Berkowitz of the Fairholme Fund adds to his junk financials position with a purchase of AIG (AIG).  (Morningstar)

Everybody is already short the Euro.  (FT Alphaville)

Why commodity-linked equities can move quite differently than the underlying commodities.  (Minyanville)

Matthew Lynn, “The ideal hedge fund should be like a good local restaurant: reliable, high-quality, a loyal group of customers, and unknown to the rest of the world.”  (Bloomberg)

The hedge fund industry is poised to return to record assets under management.  (Marketwatch)

James Simons’ Renaissance Technologies is trying to transition leadership.  (WSJ also Dealbreaker)

Do you want your mutual fund manager to run a hedge fund on the side?  (All About Alpha)

“While the argument for investing in the equity benchmark has a lot of merit (low cost, the difficulty in finding an outperforming manager), the case for using bond benchmarks is deeply flawed.”  (Buttonwood)

Apparently it doesn’t matter what funds you put in target-date funds.  (Morningstar)

Investors should diversify across anomalies to increase returns.  (CXO Advisory Group)

Be afraid, be very afraid.  CLOs are back.  (Bloomberg)

A handful of thoughts on the Lehman Brothers report.  (Rortybomb, TheDeal)

The blogs have been all over the Lehman Brothers story compared to the MSM.  (CJR)

David Merkel, “Dumb regulation is good regulation.”  (Aleph Blog)

The Volcker Rule looks like it is getting pushed aside.  (Clusterstock also MarketBeat)

Justin Fox, “But what about corporate America? What does it think about financial reform? It’s actually really hard to say.”  (HBR)

2012 is a huge year for junk bond refinancings.  (NYTimes)

When will the great deleveraging end?  (FT Alphaville)

Did the Fed keep rates “too low” or “too long”?  (John Taylor)

“No matter how you look at it, housing starts in the US remain stuck near record low level.” (Bespoke)

GDP growth will be smaller this quarter, but ironically healthier.  (Real Time Economics)

Shipping containers are getting put back into service.  (The Money Game)

Gideon Rachman, “Is China like the US in 1890? Or is it more like Japan in 1980? If the parallel with America is right, China is likely to be the dominant power of the next century.”  (FT)

Why is China’s household consumption rate so low?  (Free exchange)

Warning:  Physics envy may be hazardous to your wealth. (arXiv via MoneyScience)

Why financial plans are worthless.  (Bucks Blog)

Felix Salmon, “Lewis’s achievement with The Big Short is that he’s written a book that a huge number of people will love to read: it’s not just for finance geeks.”  (Reuters)

The story behind the Harvard-thesis that inspired Michael Lewis.  (Deal Journal)

The economics of aggregation.  (Economist’s View)

The FCC wants to bring high-speed Internet service to 90% of the population.  (WashingtonPost)

Can magazines thrive on the iPad and Web simultaneously?  (Felix Salmon also Atlantic Business)

Should the market fear the release of Oliver Stone’s new Wall Street movie?  (Marketwatch also Clusterstock)

Donna Kardos Yesalavich, “Hedge funds and proprietary trading shops are working to automate trading on information and sentiment from the blogosphere and Twitter, an effort that could make social media even more influential.”  (WSJ also New Rules of Investing, A VC)

Howard’s favorite features from the new Stocktwits.com.  (Howard Lindzon)

How the social web can increase our “online status anxiety.”  (The Frontal Cortex)

Don’t forget to sign up for our 2nd annual NCAA bracket challenge.  (Abnormal Returns)

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