Must read  - THE “3-D” HURRICANE FORCE HEADWIND - Robert D. Arnott - on deficit, debt, demographics, and asset allocation for the years ahead - RAFI Newsletter by Research Afiliates  -      hattip Prieur du Plessis
------------

Must read - Options, who makes more money? Buyers or sellers?  - Do Black Swans Negate Option Premiums? - Surly Trader

------------

liquidity returning? - The CLO market may be making a comeback - Amazingly, the primary CLO market, which has been shut down since late 2007, may be making a comeback in 2010. The volumes will be a fraction of the peak, the capital structure will be simple, and the equity structures will be thicker, but the deals will get done ... This may be the first securitization market that comes back (even as a shadow of what it used to be) without government (TALF) assistance. ... - Sober Look Blog

------------

The Future of the Securitization Business, Part I - Daniel Harrison - Seeking Alpha

The Future of the Securitization Business, Part II - Daniel Harrison - Seeking Alpha
Part One is pessimistic
Part 2 is optimistic