💬 Quoted: “The strongest statistical evidence yet.”
💰🏦 Stat of the Day: What do asset management firms and T-rexes have in common? Over the past decade-plus, these firms have slowly overtaken banks to become the apex predators of the US financial system. In 2008, American banks controlled roughly the same amount of funds as traditional and alternative asset managers in the US, at ~$12 trillion apiece. But today, such asset managers – including giants like State Street, Blackrock, Blackstone, and KKR – control roughly $43.5 trillion, nearly twice the banks’ $23 trillion, per a new WSJ analysis.
🤔 Did You Know? Roughly 4% of the world’s population has hit the genetic lottery and never experienced a headache. Scientists are currently unsure whether it’s due to biological or environmental factors.
📰 Worth a Read: Britain's mysterious WW2 'island of death' → (BBC Culture)
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