A look at the parallels between the flash crash and Black Monday.  (WSJ also Big Picture, Political Calculations)

Be afraid, be very afraid.  Junk bond investors are once again going the convenant-lite route.  (Bloomberg, Kid Dynamite)

Equity analysts have been overoptimistic for a generation.  (The Daily Stat, Simoleon Sense, Infectious Greed)

The dollar is as overbought as the Euro is oversold.  (Bespoke)

Oil is oversold.  Buy the stocks.  (Ticker Sense also The Money Game)

The effects of the BP (BP) oil spill have spread to other companies.  (footnoted)

Tradebot rules!  (Curious Capitalist, The Reformed Broker)

How skew affects the VIX.  (Options Zone)

Cliff Asness thinks your hedge fund manager is overpaid.  (Reuters also Institutional Investor)

Is a merged GLG-Man Group going go make a big (institutional) push in the States?  (DailyFinance also Deal Journal, WSJ, DealBook)

Long/short credit hedge funds are hot of late.  (Pensions & Investments)

Changes to the Berkshire Hathaway (BRKA) equity portfolio.  (market folly, Bespoke)

What John Paulson is up to.  (Fund My Mutual Fund)

13-F filings don’t include shorts.  (Distressed Volatility)

The virtue of inconsistency for traders.  (Reading the Markets)

Lessons learned from a trend following approach.  (Pragmatic Capitalism)

Burton Malkiel thinks ETFs are the “security of the future.”  (IndexUniverse)

Competition coming to the short-term actively managed fixed income ETF space.  (WSJ)

The market is global even if your portfolio isn’t.”  (Systematic Relative Strength)

Does investor overconfidence help explain the forward premium puzzle?  (SSRN)

Who knew there was such a thing as “reverse survivorship bias.”  (SSRN)

Who does GM think they are fooling?  (Mean Street, Megan McArdle, EconomPic Data, DailyFinance)

Not everything is bad for the consumer.  (Bespoke)

Be careful the move up in gold.  (Trader’s Narrative)

What the commodity trade is telling us about deflation.  (Barron’s, Bespoke contra FT Alphaville)

Why we should be worried about deflation, not inflation.  (BondSquawk)

In growth terms, can the private sector take over for the public sector.  (Michael Mandel)

Is the Euro crisis a net positive for the US?  (Tim Duy, Felix Salmon, Free exchange)

The ECB’s actions too little, too late.  (Minyanville, Bloomberg)

Martin Feldstein thinks Europe has to become more like the US to survive.  (WashingtonPost, The Money Game, Economist’s View)

Greece should just default.  (Fortune, The Money Game)

Hugh Hendry thinks China is ripe for a crash.  (Bloomberg BusinessWeek contra FT Alphaville)

Does the UK have an inflation problem?  (MarketBeat, FT Alphaville)

Poland wins, while Euroland loses.  (beyondbrics via TMG)

Did Steve Jobs do the “dumbest trade ever”?  (Marketwatch)

A visual guide to cognitive biases.  (Big Picture)

Wall Street is already looking for loopholes to any changes in carried interest tax rules.  (NYTimes)

Angel investors can breath easy…for now.  (peHUB)

Time to legalize insider trading?  (Crossing Wall Street)

What is the future for Yahoo! Finance?  (ValueCruncher)

How the financial media contributes to investor fears.  (A Dash of Insight)

More arguments for box office futures.  (Felix Salmon)

England to win the World Cup says a quant model.  (FT Alphaville)

Are blogs dying?  (Stowe Boyd via VF)

This is just cool:  a rampaging cannonball star.  (Bad Astronomy via kottke)

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