FINANCE INSIDER: 'Throwing up a whole lot of straw men'
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Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
US gross domestic product, or GDP, whiffed in the fourth quarter, increasing at an annual rate of 1.9%. Economists had estimated that the US economy grew by 2.2%.
Over on Wall Street, Vanguard founder Jack Bogle says hedge funds and mutual funds are "throwing up a whole lot of straw men" and excuses for why their funds are not outperforming their index benchmarks, despite having higher fees than index funds.
And one of the most powerful women in finance, Bessemer Trust's Rebecca Patterson, sat down with Business Insider to talk about protectionism, China, Dow 20k, and 'Brexit on steroids.'
Terry Duffy, the CEO of exchange giant CME Group, told Business Insider why he's cautious about expanding into China.
And the EpiPen maker Mylan's CEO says she totally backs Trump on drug prices - except for how he plans to lower them.
Here are the top Wall Street headlines from the past 24 hours
The government website to help Wells Fargo whistle-blowers disappeared after Trump took office - The US Department of Labor has quietly removed a special website it created as a resource for current and former Wells Fargo employees on workplace issues.
TRUMP: Reagan was the best president of my lifetime, but he was 'not great' on trade - In an interview with Fox News' Sean Hannity, Trump said that Reagan was his favorite president to have served in his lifetime.
Microsoft's value tops $500 billion for the first time in 17 years - Both Microsoft and Google's parent company, Alphabet, reported earnings on Friday.
Starbucks is facing a huge crisis, and the CEO refuses to say how he's going to solve it - The coffee chain's stores are being inundated with mobile orders, and that's drastically slowing down service and alienating customers.
Consumer confidence soars to the highest level in 12 years - The final January reading of consumer confidence from the University of Michigan came in higher than expected.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- 'Vote and have free butter dosa': Bengaluru eateries do their bit to increase voter turnout
- Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check
- Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499
- 8 Fun things to do in Kasol
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT