My morning train reads:
• Vanguard has $112 billion in assets in its automated product. Charles Schwab is No. 2 with $33 billion. Betterment still leads the independent players, with an asset base of $14.5 billion. Wealthfront is further behind at $11 billion. (Barron’s)
• Lessons from Jim O’Shaughnessy (25iq)
• This is the Amazon everyone should have feared — and it has nothing to do with its retail business (Recode)
• Billionaires gone wild: The American media landscape is being reshaped by the whims of the ultra-rich (Columbia Journalism Review)
• Brain Gain: A Person Can Instantly Blossom into a Savant–and No One Knows Why (Scientific American) see also Strange Stories of Extraordinary Brains—and What We Can Learn From Them (Wall Street Journal)
Be sure to check out our Masters in Business interview this weekend with Robert Arnott, founder and chairman of Research Affiliates (RAFI), and widely credited as the inventor of Smart Beta investing. RAFI (a subadviser to PIMCO) specializes in innovative asset allocation and alternative indexation products.
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