Subject: Less-Than-Masterful Masters of the Universe
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Fri, 8 Jul 2016 05:01:26 -0400 (EDT)

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Portfolio managers and traders have been looking pretty fallible lately, with their tried-and-tested approaches no longer guaranteeing returns. Satyajit Das suggests their earlier successes depended more on favorable economic conditions than on their talent or acumen.
China's Struggle to Create a Meritocracy That Works
As Western intellectuals advance the once-taboo notion that maybe democracy isn't that great after all, Justin Fox sits down with Daniel Bell -- author of 2015's "The China Model: Political Meritocracy and the Limits of Democracy" -- to discuss the many ways political systems can fall short.
Some Elitist Views Are Pretty Popular With the Masses
Pundits on left, right and center claim Brexit was a populist uprising against the establishment, but Noah Smith says framing it as "tiny, arrogant elite versus an angry mob" is a gross oversimplification. On both sides of the Atlantic, he says, the leadership class is made up of several competing factions -- many of which draw support from populists.
What's Good for Workers Is Bad for Investors
Wages are rising, and if inflation follows, the fixed-income market will be hurting. Conor Sen explains why the second half of 2016 may bring an economy for workers to cheer (except those toiling on Wall Street). 
A Case of Bad Eggs Might Land You in Prison
The legal travails of a family-run egg farm in Iowa could have consequences for businesses across the U.S. Noah Feldman explains why if an appeals court ruling stands, even people who unknowingly violate federal regulations could do time.
Ritholtz's Reads

Did economists fail us over Brexit? (Financial Times)
Five bricks in the wall of worry (Macro Man)
Take a simple idea and take it seriously (Motley Fool)

(Read Barry Ritholtz's full daily news roundup.)
Bloomberg Gadfly 

Amazon spins old-media dross into gold
The food-and-beverage deal frenzy has a dark side
Oil's disco inferno is less hot now

(Read more from BV's sister site for fast business commentary.)                                                                                                                                                                                                                                                               For more information, email [email-masked].                                                     For media inquiries, contact Jill Watanabe at +1-212-617-1610 or [email-masked].                                                                                                                                                              You received this message because you signed up for Bloomberg View newsletters.                                                                                   bloomberg.com/view | 731 Lexington Avenue, New York, NY 10022 | Contact Us | Unsubscribe                   <a href="http://link.mail.bloombergview.com/click/7108355.21147/aHR0cDovL3d3dy5tYWlsLmJsb29tYmVyZ3ZpZXcuY29tIg/55086a4c3b35d051538c37ccB5c0dfa62><img src="http://link.mail.bloombergview.com/img/55086a4c3b35d051538c37cc48cub.gbf/bb0734eb.gif" alt="" border="0" /></a>                                                                             

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