<b>The Takeaway:</b> Money pouring into U.S. stock funds; emerging markets, not so much

Portfolio

Investors pour $95 billion into U.S. stock funds so far in 2013 while yanking out $8.4 billion from Emerging Markets.  (Bloomberg)

Brian Gilmartin: Sorry, but earnings estimates are still rising for the S&P 500.  (Fundamentalis)

Rick Ferri looks at factor investing, part I:  (Rick Ferri)

David Trainer: Investors are buying low-cost funds laden with low-quality holdings.  (WealthManagement)

The Biz

Institutions  starting to band together in the fight for lower fees from private equity and hedge fund managers.  (DealBook)

Bruce Berkowitz flings the doors open at Fairholme to new investors.  (Focus On Funds)

Putnam is righting the ship with new executives – but it’s gonna cost them.  (Pensions & Investments)

Mike Patton: Successful careers come from caring more about your clients than anything else.  (ThinkAdvisor)

Bill Ackman is now a deep value stock.  (The Reformed Broker)

Outliers

JPMorgan hiring the children of well-connected Chinese officials to win business. Of course it is.  (The New Yorker)

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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.