Ritholtz's Reads: Vanguard Deals a Body Blow to Wall Street

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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It's foggy in New York, but that won’t slow our morning train reads:

• Vanguard’s Gain Is Wall Street’s Pain: Low fees will remove $40 billion in annual revenues from financial industry by 2020 (Bloomberg)

 • How Much Metal Does China Need? (Gadflysee also Martin Wolf: Understanding the new global oil economy (FT)

 • American retail is about 2 things: Amazon and everyone else (Business Insider)

 • Ben Bernanke: China’s gold star (Brookings)

 • Companies Shy Away From Spending (WSJsee also Imagining a World Without Growth (NYT)

 • Gold’s Downtrend Continues (Short Side of Long)

 • Big Banks Suffer Rare Fail as Congressional Deal Cuts Nearly $1 Billion a Year in Handouts (The Intercept)

 • Male and Female Brains (NeuroLogica Blog)

 • How an $84,000 drug got its price: ‘Let’s hold our position … whatever the headlines’ (Wonkblog)

 • The world’s favorite fruit is slowly but surely being driven to extinction (Quartz)

 What are you reading?

 Morgan Stanley Says Get Ready for Low Returns

  

 Source: Bloomberg

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

To contact the author of this story:
Barry L Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
Max Berley at mberley@bloomberg.net