Here are seven (or so) links at 7AM Eastern. We will see you later with the daily linkfest. Good luck out there.
The market is cheaper on a P/E basis than it was a year ago. (Bloomberg)
What would it take for us to see some mean reversion in profit margins? (A Dash of Insight)
The market does not want to go down in 2012. (Bespoke)
Why have hedge funds performed so poorly? (Sober Look)
Are manufacturers really special? (Economix)
Are Fed interest rate forecasts anything better than mere guesses? (voxEU)
A look at why the housing bust was so bad. (Global Macro Monitor)