Tuesday links: be flexible

19May09

Hedge funds would be wise to give some ground on fees. (WSJ)

Hedge fund-like mutual funds continue to launch. (Morningstar)

Be flexible. Don’t be critical of someone else’s strategy because in all likelihood you’re using elements of that same strategy in your own.” (The Pragmatic Capitalist)

Is stock analysis “completely worthless”? (Clusterstock)

Should we re-assess India after the recent election? (FT Alphaville)

John Paulson apparently really likes gold and gold stocks. (market folly)

Bonds have outperformed stocks over some different time frames. How much should we read into this? (FinanceProfessor, dshort.com)

ETFs continue to win the tax-efficiency race. (Morningstar)

Don’t be fooled by a bear market rally. The economy ain’t healed yet – although a lot of banks seem to be fat and happy again.” (Behind the Headlines)

IPO underpricing is related to individual investors’ preference for stocks with lottery-like features.” (SSRN)

Can a model of recession probabilities help time the stock market? (CXO Advisory Group)

So is shareholder value a dumb idea? No, just a very difficult one. Because to really get it right, you need to ignore your shareholders.” (Fortune)

“Overall, Buffett’s stock holdings have outperformed the S&P 500 this quarter by nearly 1,000 basis points.” (Bespoke)

Why Warren Buffett never took Berkshire Hathaway (BRK-A) private. (Felix Salmon)

The weird story surrounding a controversial TARP story comes to a conclusion. (Clusterstock, Zero Hedge)

Are taxpayers going to get “fair value” for TARP-related warrants? (DealBook also The Reformed Broker)

Remember the TED spread? It is rapidly approaching pre-crisis levels. (Big Picture, Felix Salmon)

Is Blackrock (BLK) part of the problem or the solution? (WSJ, NYTimes)

And you thought the small banks were in better shape than the big banks? (Clusterstock, WSJ)

Is the US Dollar’s status under threat? (FT Alphaville, Barron’s, Brad Setser)

Housing starts plummet. Maybe that is a good thing? (Floyd Norris, Value Plays, EconomPic Data, Calculated Risk)

Is California essentially ungovernable? (WSJ, Breakingviews, Crossing Wall Street)

Japan’s “Lost Decade” is not an apt analogy to the situation we now face. (Atlantic Business)

Don’t expect a definitive statement from Tim Geithner. (Crossing Wall Street, naked capitalism)

“..the economic crisis continues to wreak havoc on second- and third-tier financial centers.” (The Atlantic)

A profile of Nouriel Roubini asks whether he is “lucky or just good”? (The New Republic via The Big Money)

How Obama is like Spock. (Slate also The Morning News)

Two investment blogs to get you up-to-date. (VIX and More)

On the economics of an Economics PhD. (EconLog)

For everyone’s sake Twitter should go public now. (Howard Lindzon also Information Arbitrage, 24/7 Wall St.)

Continued feedback on Wolfram|Alpha. (Slate, The Big Money, Scientific American, Wired)

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