Thursday links: change is good

30Oct08

“Churning is a sign of change and change is good following a long bear market.”  (Barrons.com)

In finance, we know less than we think, so we should be cautious in our conclusions.”  (Aleph Blog)

Face it…you missed the bearish call. You are down 40 percent.”  (Howard Lindzon)

Arbitrageurs are “flummoxed.”  (Deal Journal also DealBook)

Securities lending programs are coming under pressure.  (WSJ.com)

Some hedge funds are still able to scare up new investor cash.  (Dealbreaker)

Everyone is lining up to get a piece of the bailout cash.  (Clusterstock)

Another market bottom-caller weighs in.  (BloggingStocks)

130/30 mutual funds have not performed all that well in this bear market.  (Morningstar.com)

InvestorLetterPalooza.  (NakedShorts)

Should Target (TGT) say goodbye to its owned real estate?  (DealBook)

“So earnings calls these nervous days mostly resemble a game a charades, in which management gets asked the same question in fifteen or twenty different ways.”  (Jeff Matthews)

Tales of financial incompetence.  (Market Movers)

TIPS spreads are signaling deflation.  Does that make any sense?  (Trader’s Narrative)

Credit market measures are improving.  (MarketBeat, WSJ.com, Calculated Risk)

Knock on effects of the crisis.  Pension plans are now underfunded.  (WSJ.com also Clusterstock)

The Fed is rapidly approaching the “zero bound.”  (NYTimes.com, Free exchange)

Will the slope of the yield curve predict economic growth in times of crisis?  (Odd Numbers)

Expect the personal savings rate to increase over time.  (Curious Capitalist)

(T)he cult of the scoop—of making sure your story crosses the wire five minutes ahead of your competitor’s—in business journalism can wreak amazing havoc.”  (The Balance Sheet)

Thanks for checking in with Abnormal Returns. Feel free to contact us with any questions and/or comments.

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