The Takeaway: Gold-as-stock-hedge officially laughable

Portfolio

Gold as a hedge? It’s now flat with stocks since December of 2011 and has underperformed by 68% since the summer of 2011. (Focus On Funds)

Meanwhile, Goldman says to just short gold outright. (MarketBeat)

Can’t get enough of the Japan ex-yen trade? How about a small cap version from WisdomTree? (InvestmentNews)

The Biz

Broker promises he’ll get his clients out of a drug stock upon FDA approval but can only reach some of them to make the sales. Gets nailed for exercising discretion. So tell me, why else do you like being a broker? What a joke. (Broker and Broker)

Royal Alliance scoops up two more firms, combined AUM $200 million. (Financial Planning)

Chip Roame crushed it at the Tiburon CEO Summit yesterday, his thoughts on the industry: (RIA Biz)

Boomers: The bad news is that none of you can retire. The good news is that, in the aggregate, you’re aware of this. (Advisor One)

Outliers

Step 1: Regulate the financial services industry, Step 2: Step down and become a consultant to the financial services industry as they seek to avoid regulation, Step 3: Profit! (DealBook)

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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.