<b>The Takeaway:</b> It’s official, Vanguard is the new single-season champ

Portfolio

Too bad you never got to enjoy any of that tail risk you prepared for. 2012 was also “the year that cried wolf.” (Macro Man)

Bill Ackman lays out his short thesis on Herbalife, a stock he’s already crowbarred with a mere mention of its ticker symbol. (Focus On Funds)

Three investment themes that could dominate 2013 (according to me, so you know, nine grains of salt). (The Reformed Broker)

The Biz

Its not UBS’s $1.5 billion fine that’s such a big deal, it’s the guilty plea. When was the last time anyone admitted or denied guilt in a settlement? (DealBook)

Moynihan steps in and blocks another broker payout cut just before year-end. Good idea, Bry. (Investment News)

Advisor Bob Seawright lists his 15 most crucial daily reads. (Above the Market)

It’s official – the New York Stock Exchange is sold! (NYSE)

This, too, is official – Vanguard shatters the single-year asset gathering record with over $130 billion for 2012. JPMorgan’s pace-setting 2008 record sulks in a corner. (Financial Planning)

These mutual funds are taking the biggest tax bite out of shareholders this year. (Fortune)

Outliers

You Vote: Which corporation had the most egregiously piggy footnote this year? (footnoted)

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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.