New legislation to anoint a self-regulatory organization for RIAs has sparked the predictable firestorm. Compounding the controversy is the fact that brokerage organizations have endorsed Finra as the logical alternative to be that SRO.

Is there a new Nifty Fifty looming on the equity market’s horizon? Loomis Sayles vice chairman Dan Fuss hinted that there might be some variant of that phenomenon from the late 1960s and early 1970s, as he told attendees at the firm’s annual press briefing that he was increasingly confident that equities would outperform bonds over the next few decades.

With a short-term mentality practically paralyzing individuals and corporations, the U.S. should extend the capital gains tax holding period from one year to three years and gradually reduce the rate over time for investors who hold onto their investments for progressively longer time periods, Black Rock CEO Larry Fink told the Council of Foreign Relations today.

Almost all advanced economies are burdened with enough debt to remain vulnerable to double-dip recessions, according to Carmen Reinhart. Moreover, the obtuse, intensely ideological prescriptions proffered by such luminaries as Paul Krugman in the NYT, and Stanford's John Taylor and Harvard's Robert Barro in the WSJ, reveal little more than how the powerful vortex of today's debates have driven the finest economic minds to succumb to silliness.