Friday's Fast Five: Week of 1.27
How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly? (The New York Times): When JPMorgan Chase paid $175 million to acquire a college financial planning company called Frank in September 2021, it heralded the “unique opportunity for deeper engagement” with the five million students Frank worked with at more than 6,000 American institutions of higher education. Then last month, the biggest bank in the country did something extraordinary: It said it had been conned.
What to Do When a Target-Date Fund Just Doesn’t Cut It (Barron's): Target-date funds are the workhorses of America’s retirement plans—and for good reason. They offer a turnkey solution to a vexing problem: how to make saving for retirement a set-it-and-forget-it decision. Yet while the funds have their benefits, they may not work well for every investor.
ChatGPT passes MBA exam given by a Wharton professor (NBC News): The bot’s performance on the test has “important implications for business school education," wrote Christian Terwiesch, a professor at the University of Pennsylvania’s Wharton School.
The Narrative Vortex (The Irrelevant Investor):"[...] there will be a lot of back and forth this year as new information comes to light. Always but especially now, the key to investing is not to chop yourself up as the market struggles to choose a direction. Do not get stuck in the narrative vortex" (Michael Batnick).
Inside Elon Musk's 'extremely hardcore' Twitter (The Verge): Twitter’s staff spent years trying to protect the social media site against impulsive billionaires who wanted to use the reach of its platform for their own ends, and then one made himself the CEO.