The Takeaway: As always, retail investors come late to the party

Portfolio

Facebook’s upside explosion boosts all those silly “social media” funds.  (Index Universe)

Retail investors are up to their usual routine, shoveling money into equity funds now that the market is up 20% on the year.  (Street Talk Live)

Anecdotally, here’s what this market environment has become.  (The Reformed Broker)

Rekenthaler: A bad mutual fund is a bad mutual fund.  (Morningstar)

How should we think about muni bonds in a rising rate environment?  (AllianceBernstein)

Uh oh – “data suggests investors are buying almost any investment asset”  (Horan Capital)

The Biz

SAC’s compliance department was really good at coming up with new terms to describe insider trading.  (Dealbreaker)

Everyone talks about being long-term oriented, but American funds really means it.  (Morningstar)

Investors around the world are lining up for Peter Schiff’s new gold mutual fund.  (Investment News)

The Forbes family office has major ambitions to become a national RIA.  (Financial Planning)

Raymond James reports a weak quarter, hard to believe given the environment and what their competitors are telling The Street…  (WealthManagement)

Ron Carson is buying up firms, new $206 million deal announced for a hybrid shop.  (Investment News)

Outliers

This is great – Roger Wohlner on why Anthony Weiner would make a great financial services spokesman.  (Chicago Financial Planner)

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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.

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