$$$ "I think going forward most investors are not going to be able to produce alpha," Ray Dalio said in an interview during the New York Times' DealBook conference on Tuesday morning. "I think that going forward, most investors are not going to be able to produce alpha. Alpha is a zero sum." [CNBC]
$$$Activist Investor Daniel Loeb Takes FedEx Stake [WSJ]
$$$Winklevii: Bitcoin worth at least 100 times more [CNBC]
$$$Emerging economies to suffer more from U.S. taper: World Bank's Kim [Reuters]
$$$ The man appeared confused and disoriented. His speech was slurred, his eyes were watery and bloodshot and he smelled of alcohol. He said he was “drunk,” he had “a lot” of alcohol and urinated on himself. His blood-alcohol level at the police station was 0.24 percent, above the state’s 0.17 percent super-drunk standard. The man’s car was impounded. While he was being booked, he said he drank so much because he was upset that the University of Michigan’s football team lost 29-6 at Michigan State University the day before. He said he also was upset with the play-calling of Offensive Coordinator Al Borges, whose Wolverines rushed for a negative-48 yards, the worst ground performance since the school started playing football in 1879. [P&G]
$$$Obama to Nominate Massad to Head CFTC [WSJ]
$$$China Endorses 'Decisive' Role for Markets [WSJ]
$$$Wisconsin Man Called 911 Because Sex Partner Was "Snoring Like A Train" In His Bed [TSG]
