The Super-Rich and the New Laws of Capitalism

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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My morning train plane reads:

  • The World’s Most Powerful Stock Pickers Don’t Manage a Penny (Bloomberg)
  • The Laws of Capitalism are Being Rewritten (Reformed Broker); see also The Profit Motive Behind Financial Complexity (Bloomberg View)
  • 25 book recommendations from some of the smartest people in tech (Business Insider)
  • Global Alternative Assets Soar to $6.2 Trillion (Chief Investment Officer) but see Hedge-Fund Investors Dump Laggards, 84% Redeem in First Half  (Bloomberg)
  • In New York, a Falling Market for Trophy Homes in the Sky (New York Times)
  • Sam Wyly’s battle with IRS, SEC reveals games of the superrich (MarketWatch); see also How the Carried Interest Loophole Makes the Super-Rich Super-Richer (Capital & Main)
  • Why golf has gone the way of the three-martini lunch (MarketWatch)
  • Dallas Chief to Lawmakers: Do Your Job on Gun Control (Daily Beast); see also Texas Open-Carry Laws Blurred Lines Between Suspects and Marchers (New York Times)
  • How the unrest of the 1960s compares to today, according to the people who lived through it (Wonkblog)
  • Clinton survives another Salem trial (Washington Postbut see Democrats Will Learn All the Wrong Lessons From Brush With Bernie: Instead of a reality check for the party, it’ll be smugness redoubled (Rolling Stone)

What are you reading?

Diversity and American Optimism

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:
Brooke Sample at bsample1@bloomberg.net