* Mark Humphery-Jenner: Why do large private equity funds earn lower returns?
* Chris Dixon pushes back against forecasts of a seed-fund crash, saying that salvation comes in the form of smarter entrepreneurs.
* FINS: The perfect M&A resume
* Luke Timmerman: How biotech startups are learning to pinch pennies.
* PIMCO begins selling black swan insurance. Does Nassim Taleb get royalties?
* Europe’s attempts to regulate alternative investments slogs on, with new draft language now available.
* Facebook lawyer says he’s “unsure” if Mark Zuckerberg signed away 83% of the company back in 2003.
* After Obama signs the financial reform bill today, he plans to shift his attention toward housing policy. More specifically, he may reverse (or at least reduce) his predecessors’ emphasis on home ownership.
* Union Square Ventures threw a fundraiser for Chuck Schumer, who told them that “comprehensive immigration reform” would pass in 2011. To USV’s Fred Wilson, that means startup visas and more H1B visas. To me, it just means Schumer was telling supporters what they wanted to hear.
* JahJah founder Daniel Mattes moves into mobile payments
* A. Davidson Hall says that it’s time to prepare for some very serious deleveraging: