Despite lots of criticism of the investment industry, one investment manager writes on why he is proud to do his job. Read more
Leave a Comment Today’s most shared: US GDP revised to show contraction, weather blamed. Leveraged ETFs may blow up, says BlackRock’s Fink. 2014 Internet and tech trends. Piketty gets the cover of BusinessWeek as debate over quality of data rages. Wherever Harvard grads … Read more
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As the founders of the first generation of institutional hedge funds reach the twilight of their careers, allocators are beginning to think about āretirement riskā in their hedge fund portfolios. For the better part of two decades, backing early movers … Read more
Leave a CommentToday’s most shared: Banks allow borrowers to adjust earnings to report less risk to regulators. Goodhart’s law in action, and the Achilles heel of ‘big data.’ Deciding what and how to measure is hard and not value-free. BoE governor criticizes … Read more
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On my recent one-day visit to San Francisco, I chatted briefly with a flight attendantĀ who wanted to know whether any of the papers I was discarding would make her rich if she read them. I suggested that she should enter … Read more
Leave a CommentToday’s most shared: Is Piketty’s data fundamentally flawed? Is inequality really a problem, and are his theoretical framework and remedies worthy of the attention they have received? Barbarians at the gates of Europe, as fringe parties win big in elections … Read more
Leave a CommentToday’s most shared: Moderation in volatility inspires greater risk-taking, which will eventually boost volatility. Italy to add black market economy to GDP, including illegal drugs and prostitution. Perhaps if they had added it while ‘Bunga Bunga’ Berlusconi was in charge, … Read more
Leave a CommentToday’s most shared: In many areas, house prices are starting to look high, and it’s cheaper to rent. Wall Street, Google fund small-business lenders with 100% effective interest rates. Geithner book highlights Obama’s caution, leaving financial reform incomplete, with only … Read more
Leave a CommentToday’s most shared: NY Fed President Dudley posits slow retreat from zero bound, continued purchases of securities. Irrational fears, behavioral biases, misunderstanding risks hurt investors. Russia’s deal to supply China with gas should buy Putin and his crony capitalists a … Read more
Leave a CommentToday’s most shared: Credit Suisse pleads guilty, accepts giant fine; Outcome called business as usual for bank and tax-evading clients. Animal spirits return to junk market despite ‘lowflation’ fears. El-Erian: Geithner critics overlook that politics is the art of the … Read more
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