Psst…There’s a Weed Exchange

The ETF Files

How the U.S. Government Inadvertently Created the $3 Trillion ETF Industry

Exchange-traded funds, or ETFs, are a $3 trillion global industry, with more than 6,780 products on 60 exchanges to choose from. But unlike most financial products, the ETF wasn’t developed by a hotshot young trader. The idea came from an 840-page SEC post-mortem report about Black Monday.

Today's Top Stories

The Week the Republican Party Melted Down

From Super Tuesday on March 1 to a quartet of contests on March 5, Republicans in 15 states made their voices heard on who they'd like to carry their torch into the 2016 presidential election. The message to party leaders was loud and clear: you don't represent us, and we want something radically different. Basically, it was just another week in the 2016 campaign.

The Average Wall Street Bonus Fell 9% Last Year

“Wall Street bonuses and profits fell in 2015, reflecting a challenging year in the financial markets,” New York State Comptroller Thomas DiNapoli said in a statement. The average bonus was $146,200. May we politely suggest how you spend it?

Off-Campus College Dorms Now Resemble Spring-Break Hotels

Driven by rising enrollments and an infusion of new capital, purpose-built student housing has gone increasingly upscale over the past decade. How upscale? Eighty percent of residents of off-campus student housing had access to a swimming pool, based on Bloomberg’s analysis of 94 student housing complexes across the U.S. Fifty-five percent lived in properties with on-site tanning salons, while 45 percent have beach volleyball courts. Just 38 percent offered dedicated study rooms. Who cares? You have a pool!

Some Wall Street Vets Are Betting on a Weed Exchange

Legal marijuana is a $5 billion business in the U.S., and Steve Janjic figured he’d get a piece of it. With a commodity exchange. For a product that can’t be transported across state lines. Next up: bong bonds.

How Amazon Shames Warehouse Workers for Alleged Theft

While waiting to clock in each morning, workers at some Amazon.com warehouses get a steady stream of company-provided reading on flatscreen TVs: the stories of co-workers fired for theft.

*If You’ve Got the Cash

The 2017 McLaren 570S Is for You*

This is the McLaren you buy when you own maybe two other nice cars, a high-end sport sedan and an elite SUV, say. It’s the one you buy when you want to drive it (read: show off) around town, year-round, on the regular.