Facebook's Aggravating Acquisitions

(Bloomberg) -- Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly. This is the last one! But see below for more on what comes next. Meanwhile, from earnings myths to Aussie pension problems, here are four charts that tell you what you need to know in business today.

And don't miss Mark Gilbert's interview with a consultant with radical ideas about fund management: "... we've got to completely change the way we think about active management. The defined benefit investor can still say 'I know how to identify managers, I can put the managers together, I can negotiate fees. Having done all that, after five years I reckon I can extract 120 basis points of extra return after paying fees. Because I'm clever enough.' Those folks can continue playing that game. The needs of the individual investor are different."

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To contact the author of this story: Max Nisen in New York at mnisen@bloomberg.net.

To contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.net.

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