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Morning six-pack: What we're reading Friday

David Tepper, founder of Appaloosa Management
Adam Jeffery | CNBC
David Tepper, founder of Appaloosa Management

Happy Friday, folks. The taper rally is on, the economy is growing, and vacations are days away. Who could ask for anything more?

The U.S. economy grew at a healthy—and stronger than previously estimated—4.1% annual rate in the third quarter, pushed up by consumer spending over the summer. (The Wall Street Journal)

Blackstone has built a rental-home empire across the U.S. in less than two years. (Bloomberg)

A blow-by-blow of how a New York City jury decided to convict SAC Capital's Michael Steinberg on insider trading charges. (The New York Times)

Hedge funds have turned to Washington political intelligence shops to give them an edge. But where's the line between insight and inside information? (Institutional Investor's Alpha)

Blackberry reported a massive quarterly loss as sales of its smartphones contracted and it booked asset impairment charges and inventory write-downs. (Reuters)

Distressed investors like David Tepper and John Paulson produced the juiciest hedge fund returns in 2013, beating out stock pickers and corporate activists. My CNBC.com story explains.

—By CNBC's Lawrence Delevingne. Follow him on Twitter @ldelevingne.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.