Rosie throws in the towel and BlackRock declares the boom and bust cycle over

 Gee, when have we heard that before lol?

Titans of American business pay to have dinner with genocidal dictator Xi Jinping

Elon Musk was there, too, but this story never mentions it:

Xi’s 10 years as president are marked by a genocide against China’s Muslim minority, attempts to wipe out Tibetan culture, and persecution of Christians and followers of Falun Gong – not to mention a crackdown on democracy, religious freedom, and civil rights in Hong Kong. 

Yet, during official and unofficial meetings this week, there was no mention of the long list of atrocities. Instead, Xi received an unusually warm reception. 

On Wednesday night in the confines of San Francisco’s Hyatt Regency ballroom, America’s corporate chieftains gathered to fete Xi as a “guest of honor” at a banquet drawing nearly 400 attendees. The gala took place on the sidelines of the Asian Pacific Economic Cooperation summit, a gathering of 21 member countries to support free trade and business ties. 

The executives were so excited to share the room with the Chinese president that they gave him two standing ovations before Xi uttered a word. American titans of business, including Apple’s Tim Cook and Blackstone’s Steve Schwarzman, Black Rock’s Larry Fink, Boeing’s Stanley Deal, and Pfizer’s Albert Bourla, joined Commerce Secretary Gina Raimondo to rub shoulders with Xi and a cohort of Chinese officials. 

Tickets for the banquet started at $2,000 each, with several companies shelling out $40,000 to buy eight seats at a table in the ballroom and one at Xi’s table. After Xi’s remarks, attendees provided yet another standing ovation, according to Reuters. 

Some executives made no attempt to hide their gushing. On the way into the Hyatt, Bridgewater Associates hedge fund founder Ray Dalio told the Financial Times that he was “excited to have this relationship [with Xi].”

If Dalio entered the hotel from the main lobby, he couldn’t have avoided the polar opposite scene and messaging. A Tibetan student activist named Tsela had strapped herself to a flagpole and was waving the Tibetan flag when Xi and his entourage arrived. Other activists from Students for a Free Tibet chanted “Murderer” at the Chinese leader, “Down with the CCP,” and “Human Rights in Tibet.”

Hogg jumps shark, now calls for boycott of Blackrock and Vanguard over guns

Story here (photo here).

Rotza ruck with that, kid.

In Passive v. Active Management, Vanguard Is The Winner And Still Champion

So says Robert P. Seawright, here:

[O]ne of every three dollars invested in mutual funds and exchange-traded funds through the first four months of ... 2012 has gone to Vanguard, according to Morningstar Inc. (and as reported by Investment News).  Investment in Vanguard so far this year is roughly $65 billion, nearly four times more than the next closest mutual fund company – PIMCO.  In ETFs, year-to-date through the end of April, Vanguard had gathered $21.6 billion, while BlackRock’s iShares collected $13.3 billion and State Street added $7.2 billion. As always, Vanguard focuses on passively managed index funds and ETFs.