Hedge Funds, Dumb Money and Space

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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Live from the Vatican, it's our Friday the 13th morning reads:

Be sure to check out our Masters in Business interview this weekend with Robert Frank, a professor at Cornell's Johnson Graduate School of Management and the author of "Success and Luck: Good Fortune and the Myth of Meritocracy."

More Corrections Officers, Fewer Police

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 Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
Zara Kessler at zkessler@bloomberg.net