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* Dangers of Illiquid Assets - Excellent article from David Merkel and Seeking Alpha regarding the problems of hedging illiquid assets with liquid ones. See also the link re: the dangers of financing illiquid assets with debt, especially when debt covenants are threatened.
* More Fine Reading from Kirk - The Kirk Report covers a range of worthwhile articles, including 20 things that could go wrong in this market and 5 reasons not to panic.
* Charts Worth Watching - Trader Mike notes critical support levels for indices and the carnage in hedge fund stocks. See also Mike's updated links re: housing and tougher lending conditions for hedge funds.
* Check Out Abnormal Returns - Excellent perspectives on who's winning from the recent market meltdown and money waiting to pounce on the losers. Especially take a look at their roundup of academic finance research, much of which is relevant to the current market.
* Want Trading Systems, Free and With a Track Record of Success? - The StockPickr systems are laid out for active traders, with specific system trades of the day. Truly a unique offering on the Web. My other favorite free resource for stock picking is the MSN StockScouter.
More on Housing and Credit Woes - The Big Picture lays out how hard we've fallen. Mish tracks liquidity crunch at mortgage firms and an avalanche of leveraged loan supply.
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