This week at the Google Webmaster Central blog, Google has a series of blog posts all about links. The first two blog posts are live and are named:
Google explains that they will be writing about three main topics this week.
(1) Internal links, the links that you have within your site. That post is already live and is about the how you should structure your link structure for best search engine visibility.
(2) Outbound links or the links you post on your pages to other sites. I assume Google will discuss the value of these links and who you should and should not link to. Clearly, think about your user here and not the search engine.
(3) Inbound links or the external sites that are linking to your site. I assume Google left this for last, because this may be the most interesting topic. Google plans to bust some myths, so it will be interesting to see what they say on the topic of links hurting your site. Time will tell – but stay tuned for more information.
Postscript: Here is Google’s post on linking outbound, which has useful tips for beginners on who and when to link out. In addition, it tells you how to handle user generated content links.