peHUB Second Opinion 5.4

Q4: Yeah the fourth quarter produced a -16.32% return according to new data. (P&I)

Summing It Up: Running the numbers on Cerberus’ loss. It’s certainly the biggest collapse but no one is calling it the most foolish or surprising. (Dealbook)

It is? Why life is still good for business school students … in Wisconsin. (Moneybox)

Hooray! Clusterstock reports that the S&P 500 is now officially up for the year. Next to, of course, a photo of happy traders. (Clusterstock)

On a Global Basis: Men are bearing the brunt of layoffs. (BusinessWeek)

AIG M&A: AIG is close to sales on two of its businesses. Dealscape has the whole round-up. (Dealscape)

Epicurean Dealamaker Is Excellent: Read this take on bankruptcy code, what exactly happens in Chapter 11, and what certain parties are worried about “protecting.” (ED)

Not Sure I Agree: There are too many independent advisory firms and “super boutiques,” according to BreakingViews.

Conventional Wisdom: Again with the “funds invested in a downturn produce great returns.” What if no one but the walking dead will sell during a downturn? (IBEF)

Loan to Own: It’s not exactly a “new” approach or “trend” as this firm calls it, but here’s what they say Chicago thinks of distressed debt-to-own buying. (Pebble Creek Partners)