<b>The Takeaway:</b> The real problem with low-volatility funds

Portfolio

Japan: Abenomics is starting to work its way through the economy, according to new economic data.  (The Reformed Broker)

Why aggregate margin debt figures are not a great market indicator.  (RiskReversal)

The problem with these low-volatility funds is that the stocks they own keep missing earnings.  (Focus On Funds)

The case for continued strength in the health care sector.  (Markit)

The Biz

How outsourcing could save small RIAs.  (Financial Planning)

UBS earnings are out – US wealth management biz saw profits up 19%.  (DealBook)

Securities America nailed for $100,000 fine over emails making claims about private placements. No problem with the actual sale of private placements by brokers who are not equipped to understand them and clients who truly have no need of them – that’s all good.  But the emails!  (Investment News)

Ray Jay hosts the largest adviser meeting in the company’s history, here’s what was discussed:  (RIABiz)

Another top exec departs JPMorgan – will Dimon have the votes to keep both the Chairman and CEO roles?  (DealBook)

Outliers

The Street basically invented financial blogging and tweeting, didn’t know what they had.  (Abnormal Returns)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.