The below illustration of the economic cycle (remember we used to have those) comes from my friend Jeffrey Kleintop’s epic Mid-Year Outlook piece for his firm LPL Financial. Jeffrey and Co really knocked it out of the park this year, head over for the whole PDF at the link below: LPL Financial Research’s Mid-Year Outlook…

I know a small startup hedge fund that was flat last year versus the S&P 500’s 32% total return. He’s out of business, pack up the truck. Nothing he can explain or illustrate means anything to the handful of seeders who let him hold onto some money for a year. Hedge funds have faced quite a…

So a couple of years back Anheiser-Busch, the maker of Budweiser beer and several other iconic American brands, was acquired by InBev, a European conglomerate known for its Stella Artois, Michelob, Corona and Beck’s franchises. InBev now makes and distributes Budweiser and the company is based in Leuven, Belgium. Today at 4pm ET, Belgium faces off against…

A new profile of Bill Miller hit the Wall Street Journal yesterday and boy is it a doozy. If I were teaching a course on behavioral investing, and had lost access to all of the curriculum’s text books for a week, I could probably get by just on pull-quotes from this piece. Something happens to…

Your morning financial links, expertly curated.

As Chairman of the Twitter Federal Reserve, I sometimes find myself shaking my head at some of the daily banality I see tweeted and shared amidst my domain. More Twitter users has not been an unqualified positive for the financial web, despite the idea of the “network effect” we’re constantly seeing celebrated elsewhere. Sometimes less participation…

Last summer I was invited to cover the joint conference between Institutional Investor and CNBC called Delivering Alpha. At the time, I called it the best investment conference I have ever been to (and I go to lots of these things, as you know). Never before had so many giants of the investment industry been…

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