Hot Links: Sigh of Relief

Stuff I’m Reading this Morning…

“Stock pickers are starting to breathe a sigh of relief” now that correlations have eased (they shouldn’t, two thirds of them will underperform once again).  (WSJ)

Is Bill Gross now too distracted to save PIMCO’s legacy via performance?  (Bloomberg)

It’s Tencent vs Alibaba for complete dominance over the entire Chinese web.  (Quartz)

Why banks seem to getting out of the asset management business in many cases.  (SoberLook)

Cliff Asness: The debate over market efficiency has been wonderful for investors to gain understanding.  (InstitutionalInvestor)

Was Ackman’s attempt to use Washington in his bet against Herbalife genius or insanity?  (NYT)

What do the massive personnel changes at Merrill wealth management this winter mean?  (WSJ)

Lots of pros were reading the latest annual Yale Endowment letter this weekend.  (Yale)

Best Buy’s not even good at selling flat screen TVs anymore.  (Belus)

Remembering the Mark Haines bottom call from five years ago.  (BusinessInsider)

Don’t focus on making your product or service cheaper, make it better.  (SethsBlog)

Last night’s True Detective finale crashed HBO GO as millions logged on to watch, here’s why it’s 8 episode run was such amazing television:  (DailyBeast)

My book, Backstage Wall Street, available at Amazon