One of my favorite journalists makes the case that the Swiss central bank is a hedge fund with a small country appended to it. In the modern era of international finance, even supposedly neutral players, like central bankers, have hedge fund-like qualities. In the U.S. the too-big-to-fail banks with their proprietary trading desks are essentially depositer funded hedge funds. When that fails, then they are insured by taxpayers.
Jason Voss, CFA, tirelessly focuses on improving the ability of investors to better serve end clients. He is the author of the Foreword Reviews Business Book of the Year Finalist, The Intuitive Investor. Previously, Jason was a portfolio manager at Davis Selected Advisers, L.P., where he co-managed the Davis Appreciation and Income Fund to noteworthy returns. He holds a BA in economics and an MBA in finance and accounting from the University of Colorado.
My statement of ethics is very simple, really: I treat others as I would like to be treated. In my opinion, all systems of ethics distill to this simple statement. If you believe I have deviated from this standard, I would love to hear from you: firstname.lastname@example.org
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Premier Li Keqiang says China will cut nontariff barriers to trade faced by foreign firms in response to US tariffs on an additional $200 billion in Chinese goods. His comments come as Asian manufacturers shift production from China amid fears US President Donald Trump will levy duties on a further $267 billion in Chinese imports. City A.M. (London) (23 Sep.)
There's no deadline for completion of the Securities and Exchange Commission's proposed rule governing investment advice, Chairman Jay Clayton says. "It's not this month, probably not next month," he says. InvestmentNews (tiered subscription model) (21 Sep.)
Dell Technologies is again considering an initial public offering, according to people with knowledge of the matter. The company, which decided to forgo an IPO earlier this year, is changing its approach after its $21.7 billion offer to buy back tracking stock ran into opposition from activist investor Carl Icahn, Canyon Capital Advisors and Elliott Management. Reuters (23 Sep.)
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