Write-Offs: 08.19.11

$$$Hedge Funds Most Bearish Since 2009 (Bloomberg)

$$$ "Let’s be very clear, there are some fundamental worries," Goldman Sachs senior investment strategist Abby Joseph Cohen told CNBC Friday. "But our feeling is the valuation of the U.S. stock market is already pricing in a rather ugly scenario." (CNBC)

$$$ Pimco Sees Commodities Rising, Sticks with Oil (Reuters)

$$$Matthew Goldstein: The Madness Of Wall Street (Reuters)

$$$ Bloomberg's Tom Keene: "Ken Prewitt and I do the show, and I have breakfast during the nine o'clock hour. A classic kind of Winston Churchill breakfast: scrambled eggs, sausage, English muffin toasted twice, home fries. And I eat about half that because I’m on live. So, I can be talking about Euro, Yen, or the president’s economic policy, and I got a sausage in my mouth." (Grub Street)

$$$FDIC Shuts Pennsylvania Bank, in Year's 65th Failure (WSJ)

$$$J.C. Penney Gives Ackman Some Leeway (WSJ)

$$$Ashton Kutcher vs. The FTC (NetNet)