Super-Rich Tourists and Dangers to Capitalism

(Bloomberg Opinion) -- My morning train reads:

  • Steven Mnuchin Is Still Standing (Bloomberg Businessweek)
  • Fidelity’s Free Funds and the Changing Brokerage Business (Morningstar)
  • When to Pick a Mutual Fund Over Its ETF Version? (Wall Street Journal); see also What Is My Mutual Fund’s “Active Share”? (Wall Street Journal)
  • The Hedge Fund 100: Quant Funds Excel — at Asset Gathering (Institutional Investor)
  • “Big Four” accountancy firms, mired in scandals, are so bad at auditing they’ve become a danger to capitalism (Financial Times)
  • How 2,000-year-old roads predict modern-day prosperity (Washington Post)
  • Yes, Home Sales Are Slowing. No, This Isn’t a Crash. (Slate)
  • In Germany, a news site is pairing up liberals and conservatives and actually getting them to (gasp) have a civil conversation (Nieman Lab)
  • How super-rich tourism may help the planet (BBC)
  • Gaia Sausage: The Major Collision That Changed the Milky Way Galaxy (Simons Foundation); see also Ice blue meteorite crystals show evidence of an active young sun (Syfy Wire)

What are you reading?

Job Openings Continue to Exceed Job Hires

Super-Rich Tourists and Dangers to Capitalism

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of “Bailout Nation.”

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