The Takeaway: How do we feel about the NYSE’s new owner?

Portfolio

Ray Jay’s Jeff Saut says to pull your horns in. (MarketFolly)

The truth about why hedge funds were so awful this past year. (ValueWalk)

But if you’re so inclined, how about a hedge fund that purports to clone hedge funds? I know you’re psyched. (ETF Trends)

The Biz

The trouble with ETF back-tested returns. (Rick Ferri)

Will the NYSE’s acquirer maintain its crucial role as self-regulator or just turn it into a Den of Thieves catering to its real customers, the Big 4 banks that account for 80%-plus of its revenue? (Fortune)

Hedge funds being asked to report their own crimes to regulators. If that sounds familiar, that’s the broker-dealer compliance model, which works really well… (DealBook)

Outliers

Volcker Rule? Don’t worry about it, we have ways around these things. (Bloomberg)

***

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.