<b>The Takeaway:</b> The return of volatility and some investing lessons from 2012

Portfolio

Volatility bets spiked first thing this morning in the wake of Plan B’s failure. (Focus On Funds)

Hedge funds struggle to outperform once again, withdrawals jump to the highest levels since mid-2009. (The Reformed Broker)

The Biz

Four investing lessons from 2012. (AllianceBernstein)

An idea from the medical profession for training the next generation of advisors. (AdvisorOne)

Halah on the Moynihan Intervention that may have saved BAC’s crown jewel. (Working Capital)

Are your clients cheating on you? (umm, yes. aren’t you sniffing them for perfume scents?) (WealthManagement)

Sad trombone: Wall Street has downsized its holiday parties this year. (DealBook)

Outliers

Nice to be UBS – prosecutors basically admit that they’re getting off easy because they’re too big. Capitalism! I wonder, would your firm be so lucky? (Bloomberg)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.