Friday links: still not cheap

20Feb09

Why stocks still are not cheap.  In short, they had a long way to fall.  (Economix)

“You do not have to participate in this treacherous market.”  (Howard Lindzon)

Individual investor sentiment is quite bearish.  (Disciplined Approach)

The market may continue falling, but not because of a Dow Theory sell signal.  (Barrons.com)

March is going to be a telling month for the economy and markets.  (24/7 Wall St.)

A strong dollar used to be good for U.S. stocks, but since the credit crisis broke, that relationship has completely reversed itself.”  (Crossing Wall Street)

Merger arb specialists are playing things pretty close to the vest in this market.  (Deal Journal)

A world where people obsess over one-day movements in the Dow is not a world where stocks feel like a remotely safe investment: it’s a world where they’re a high-volatility gamble.”  (Market Movers)

Has the WTI market simply become a derivative of the U.S. Oil Fund (USO)?  (FT Alphaville)

China is loading up on “stuff” while the US puts more money into housing.  (Gregor.us)

Bond trading is booming.  (Calculated Risk)

Looking beyond the Rick Santelli rant.  (A Dash of Insight, Daily Options Report)

“As bad as the public markets feel, the private markets feel much better.”  (Information Arbitrage)

The many (poor) implications of a transfer, i.e. trading, tax.  (Aleph Blog)

Expect a re-acceleration in the convergence between hedge funds and private equity.  (All About Alpha)

The list of those who are pro (and con) bank nationalization.  (Big Picture)

Will the TALF open up the credit markets, or is it simply a giveaway to select investors?  (NYTimes.com)

There has got be a better way than the Obama plan to help clear the housing market.  (Dealbreaker)

Apparently it was a lot cheaper to save Europe after WWII than the current American economy.  (Alea)

“What are we really getting for this massive increase in leverage?”  (finem respice aka Going Private)

The American economy is nothing like we thought it was, as it turns out.”  (Free exchange)

An interview with Animal Spirits, co-author Robert Shiller.  (Atlantic Business)

Positive reviews for Animal Spirits and Dear Mr. Buffett.  (Market Movers, TraderFeed)

You know times are tough when even Girl Scout cookies are down.  (USA Today)

If you want to do great work, focus on one thing at a time.”  (37signals)

Have we overlooked an interesting post in the investment blogosphere? If so, feel free to drop Abnormal Returns a line.

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