<b>The Takeaway:</b> The weirdest pro-bond argument ever — and it kind of makes sense

Portfolio

Russell cracks through 1000 for the first time ever.  (Focus On Funds)

James Surowiecki: Sorry, it’s not a bubble.  (The New Yorker)

The weirdest pro-bond allocation argument I’ve yet read…and it makes sense sort of.  (Rick Ferri)

The Biz

Death of the Wirehouse? Maybe not, but who cares? What about the invincibility of the RIA model?  (Washington Wealth Management)

HighTower raises another round, gears up to take more wirehouse guys.  (Financial Planning)

“LPL Financial is shifting its focus toward building 13,000 mini-empires — and dialing back on adding critical mass for its own sake.”  Umm, what?  (RIA Biz)

9 myths for breakaway brokers becoming RIAs.  (Advisor One)

Only half of the investment advisors expected shift from SEC to state oversight. Now what?  (Financial Planning)

Outliers

Muppet Product of the Week: Goldman’s fund of hedge funds mutual fund: 5.5% sales load on the A share plus 2% management fees. Year one, you get to watch hedge fund aces dig your client out of a 7.5% hole!  (TheStreet.com)

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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.