Daily reading – Friday, October 21, 2011

The Big Picture: Tactical Shift in Portfolios: Reducing Cash

The Big Picture: Europe’s Undercapitalized Banks

The Big Picture: First Look At US Pay Data, It’s Awful

Calculated Risk: Builders to deliver record low number of housing units in 2011

FT Alphaville: Albert Edwards: Hold on for a hard landing in China

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