Passive Investing

How a baccarat binge helped launder the world’s biggest cyberheist; how passive investing is now in danger of devouring capitalism; how credit raters ducked reform; an honest business news update; the Irish Farmers Journal weighs in on what you could buy instead of Neymar; other stuff.

“When it’s time to head for the door, you better move fast.”

Area fund manager decries threat to his business.

Jeff Gundlach appears at SALT as a hologram; the SEC might kill the quadruple-leveraged S&P 500 ETF; Darwin visits Wall St; can we still rely on collective wisdom; “To Woo Millennials, Financial Advisers Dress the Part”; unpleasant thoughts you had and the things you bought to stop having them; other stuff.

A note that’s either an exercise in wishful thinking, or a warning that darker days are ahead for passive allocators. Perhaps both.