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" ... In Wall Street’s gotta-have-a-gimmick world, these factors have been conveniently packaged into exchanged-traded funds for your shopping pleasure. But before we back up the truck, let us pause to consider Cliff Asness’s apothegm: There is no investment product so great that a fee cannot make it bad. The fee I want to highlight here is the one paid to the tax collector. ... "
" ... The components of the US technology innovation flywheel are still here, and arguably more capable than ever, yet the ecosystem is no longer spinning. As the now famous apothegm goes, "We wanted flying cars, instead we got 140 characters." But why? ... "