My afternoon train reads:
• Vanguard puts active managers in a spin (FT.com) see also The Appeal of Investments That Cost More and Return Less (Bucks)
• The Market’s Unrelenting Cheer Makes Some Nervous (Businessweek)
• New, from Morgan Stanley: An Asset So Toxic They Called It ‘Nuclear Holocaust’ (Dealbook)
• Jamie Dimon Laments Too-Big-to-Fail? Give Me a Break (The Ticker) see also Too Big To Jail? The Top 10 Civil Cases Against the Banks (Frontline)
• Dallas Fed: Small Banks Key to Financial Stability (Yahoo Finance)
• Andean glaciers melting at ‘unprecedented’ rates (The Guardian) see also Koch-Funded Study Finds 2.5°F Warming Of Land Since 1750 Is Manmade, ‘Solar Forcing Does Not Appear To Contribute’ (ThinkProgress)
• Ray Lewis and Michael Phelps: An unusual friendship between Baltimore’s brightest stars (Washington Post)
• WTF? GOP Stunt On Debt Ceiling Is Total Surrender To White House (Stan Collender’s Capital Gains and Games)
• Here’s how you’ll waste 43 days of your life (MarketWatch)
• What Happened to Downtime? The Extinction of Deep Thinking & Sacred Space (99u)
What are you reading?
Firms Keep Stockpiles of ‘Foreign’ Cash in U.S.