Science fiction author William Gibson once observed that “The future is already here, it’s just not evenly distributed.” The same can said for alpha, or the ability of money managers to deliver market-beating returns. Reports of high fees and underperformance have long dogged the alternative investment world, mainly private-equity, venture-capital and especially hedge funds. Last year, returns were negative …

  Elaine Ou Yahoo has been getting a lot of attention lately for its failures to protect personal information. What’s perhaps more remarkable, though, is how little privacy American internet users demand. First came news that hackers stole personal data on more than 500 million Yahoo users. Now the company is dealing with reports that it helped the Justice Department …

  Ramesh Ponnuru Paul Ryan and Donald Trump have, let’s say, a complicated relationship. Ryan has told the congressional Republicans he leads that he will no longer defend Trump — not that he ever really did — and told them to feel free to disavow him. Trump fired off an angry tweet in response, taking Ryan to task on immigration, …