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Fly Charts: BlackRock's Bump and Jack Ma's Bad Argument

From the limitations of volatility to the faults in our hedge fund stars, here are four charts that tell you what you need to know in business today.
Photographer: Jean Chung/Bloomberg
BLACKROCK INC
+10.50
At Closing, April 26th
522.72 USD
FACEBOOK INC-A
+14.47
At Closing, April 26th
174.16 USD

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From the limitations of volatility to the faults in our hedge fund stars, here are four charts that tell you what you need to know in business today.

Drop Off

BlackRock offers index funds that basically own the market. But it's increasingly starting to look like the market owns BlackRock.

Source: Bloomberg, BlackRock Inc.

Signs of Life

Active managers have longed for more volatility. It's here. But returns have not followed as expected.

Source: Bloomberg

Note: Bond volatility is measured by Merrill Lynch's MOVE index, equity volatility by the Chicago Board Options Exchange VIX index

What Problem?

Hedge funds aren't going anywhere any time soon. But sluggish returns, opacity, and high costs will eventually take a toll.

Source: HFR

Fair Trade?

Jack Ma's claims about China's openness ring hollow for those who pay attention.

Source: WTO

Note: Shows average across category, includes tariffs based on value (ad valorem) and those based on weight as charged by the U.S.

And don't miss Shira Ovide on how Facebook works: "Zuckerberg found it hard to plainly acknowledge that Facebook tracks users from device to device, collects information on websites people visit and apps they use, gathers information on people's physical locations, collects phone call logs from Android smartphones and pulls in some online activity from people who don't even have Facebook accounts.

Zuckerberg declined to acknowledge that Facebook's ad system and products are informed by all of this information gathering on and off the social network. If Facebook were a true bargain with users -- they get a useful, free service in exchange for seeing advertising based on their interests and activity -- then Zuckerberg should be comfortable explaining how it all works.

Instead, given the option to articulate Facebook's relationship with users (and non-users), he dodged. A lot."

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

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Daniel Niemi at dniemi1@bloomberg.net

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