* Hugo Dixon says that we’re now seeing the folly of 2 and 20, when it comes to hedge fund managers. No mention of private equity, probably because it doesn’t have the redemption/panicked selling issues that can cause systematic crisis.
* Ritholtz blows up the notion of correlation between market performance and a sitting president’s party.
* European stocks rise, U.S. futures drop. Equity Private warns us that this is going to be a very volatile day (speaking of EP, does she still work fulltime at a PE firm? If so, how does she manage to be Carney’s quasi replacement at DealBreaker?)
* Icahn likes the Paulson plan, but thinks it needs more accountability.
* Back in the fall of 2004, I remember certain friends debating whether they’d prefer a Bush loss and Red Sox championship, or vice versa. The Red Sox usually won out. Seems the same sentiment is being felt in Ohio, where more people would prefer a Buckeye victory over Michigan than a 13k Dow.
* WallStrip celebrates its second anniversary: