If you can isolate the beliefs that are truly influential in your professional work, you can improve your success rate significantly, says Jim Ware, CFA. Ask yourself, “What do I believe is true? And how does this affect my decisions and behavior?”
Morgan Stanley's Carla Harris says that everyone needs to cultivate performance currency and relationship currency. What are they? Performance currency is simply delivering what was asked of you plus a little bit more. Relationship currency is created by spending time with people in your organization. Harris said the former will get you noticed, but it is the latter that allows you to maximize your success.
India's agricultural woes, the appalling state of the world's oceans, "sin stocks," and reshaping market mechanisms, are just a few of the selections in this edition of Weekend Reads from India by Shreenivas Kunte, CFA.
The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.
Post-financial crisis, the volume of outstanding bonds has grown. At the same time, however, consolidation among banks and broker/dealers has cut the number of market makers, and new regulations have reduced the capital these companies can commit to fixed-income inventories.
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Robert Steigerwald, a senior researcher at the Federal Reserve Bank of Chicago, said the Financial Stability Board's proposal for resolution of clearinghouses adds little to what the industry would already do if faced with a crisis. "In the absence of public funding for solvency, I'm not quite sure what more there is to do by the resolution authority that hasn't been done or can't be done by the primary stakeholders," Steigerwald told an advisory panel of the Commodity Futures Trading Commission. MLex (subscription required) (20 Jun.)
British Prime Minister Theresa May is set to propose to EU officials the rights of EU citizens who remain in the UK after Brexit. Foreign Secretary Boris Johnson says the proposal is a "generous offer." The Guardian (London) (21 Jun.)
Goldman Sachs and China International Capital have been named to run China Tower's planned Hong Kong initial public offering, which could be valued as much as $10 billion, sources said. China's three state-run telecom operators use the mobile-phone towers owned and operated by China Tower. Reuters (22 Jun.)
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