Budget Deficits and Puerto Rico's Power Crisis

(Bloomberg View) -- My end-of-the-week morning train reads:

• Wall Street Regulator Is Also an Investor — With Meager Returns: Finra's $1.6 billion portfolio has returned 3.4% annually, versus 6% for a half-stock, half-bond portfolio. (Wall Street Journal)
• Financial News May Not Rhyme, But It Often Repeats (A Wealth of Common Sense)
• The Allure of the Family Office (Institutional Investor)
• Apple and Qualcomm's Billion-Dollar War Over an $18 Part (Bloomberg Businessweek)
• Mick Mulvaney: On Second Thought, Budget Deficits Are Awesome (Slate)
• Special Report: The bankrupt utility behind Puerto Rico's power crisis (Reuters); see also Puerto Rico's Economic Disaster Was Made in Washington (Bloomberg View)
• Angry GOP donors close their wallets (Politico)
• Can the "Uber of Trash" Clean Up Its Own Business? (Bloomberg)
• Nobel Prize for LIGO: How a new era of astronomy will ride on gravitational waves (Christian Science Monitor)

Be sure to check out our Masters in Business interview this weekend with Fred Fox, founder and CEO of Planalytics, a company specializing in business weather intelligence — the study, development and commercialization of weather analytics.

Countries with the Most Nobel Wins

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This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”

To contact the author of this story: Barry Ritholtz at britholtz3@bloomberg.net.

To contact the editor responsible for this story: Brooke Sample at bsample1@bloomberg.net.

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