For all practical purposes, is the equity risk premium actually zero?  (Falkenblog)

“If a certain strategy [asset allocation] worked for your grandparents, that’s probably a good reason that it won’t work for you”  (Felix Salmon also Random Roger)

Goldman Sachs (GS) reports:  blow-out earnings, higher trading risk and bigger bonuses.  (Clusterstock, Zero Hedge, FT Alphaville)

Goldman shares are now a big bet on credit.  (Big Picture)

Does Goldman owe us anything for saving them from the credit crisis?  (Curious Capitalist)

AQR is launching momentum-based mutual funds.  (WSJ, Bull Bear Trader)

Never turn a hedge into a trade.  (Minyanville)

Adding diversification via single country ETFs.  (TheStreet)

When your hedge fund tracker looks like a portfolio of ETFs. (FT Alphaville)

“Do absolute mutual funds follow such a market neutral, zero beta investment strategy? The answer is resoundingly no.”  (Morningstar)

How often should the publicly traded hedge fund managers disclose fund performance?  (WSJ)

How the Dollar Menu saved McDonalds (MCD) and why it may be a burden going forward.  (ScienceBlog)

“CIT’s bailout possibilities are now in the realm of political choice.”  (Baseline Scenario also Market Talk)

Are speculators to blame for high oil prices?  (WashingtonPost also Daily Options Report)

Two top economic forecasters see an end to the recession.  (Slate)

Nassim Taleb says let’s save the global economy through debt-for-equity swaps.  (Clusterstock, Felix Salmon)

Shadow banking revisited.  (Economist’s View)

On the difference between stupidity and villainy in the current credit crisis.  (Megan McArdle)

The factors driving the parallels between our spending on animal health and human health.  (The American also Megan McArdle, Greg Mankiw, Casey Mulligan, EconLog)

Why the Feds will end up bailing out California and every other state in trouble.  (Gregor Macdonald)

Closing the loop.  Allowing online analysts to manage real money. (New Rules of Investing)

Part two of an interview with Barry Ritholtz.  (Wall St. Cheat Sheet)

Is Business Week worth only $1?  (FT)

Reviews of The Myth of the Rational Market and Snap Judgment. (Aleph Blog, Investing with Options)

CNBC doesn’t like it when you call them an accessory to stock manipulation.  (The Reformed Broker)

It’s almost as if Lenny Dykstra never worked for TheStreet.com.  (Dealbreaker)

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