Simon Lack, CFA, is a widely quoted investment manager whose book The Hedge Fund Mirage has gotten a lot of attention for its critique of high hedge fund fees, lays out some of the history of hedge funds and how investors have used them historically.
Robert Stammers, CFA, is director of Investor Engagement for CFA Institute and is responsible for increasing the use and distribution of Future of Finance and CFA Institute content by various audiences. Prior to joining CFA Institute, Stammers was the principal for his founded company where he consulted for real estate owners, lenders, and syndicators to develop and analyze structured real estate investments. There he devised strategy for obtaining debt and preferred equity capital and created finance-related marketing materials and research papers for various clients. Stammers has authored over 100 articles on various financial and investment topics for such investment periodicals as Forbes and Investopedia. He served as a senior equity analyst, where he was responsible for the creation of new investment tools and instructional products to provide the revenues for two new investment education companies. As a senior executive for several institutional fund managers, Stammers was the portfolio manager for a $1 billion enhanced real estate fund, a $1.2 billion private timber fund, and several pension fund separate accounts.
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The low quality of data disclosed by firms under Europe's revised Markets in Financial Instruments Directive means best execution remains theoretical, instead of providing actual value to investors, according to a report by Liquidnet. Futures & Options World (subscription required) (23 May.)
An emergency declaration is under consideration by the Trump administration to ship arms to Saudi Arabia without congressional approval, sources say. For more than a year, Congress has blocked the sale of about $2 billion in arms to Saudi Arabia, and lawmakers' opposition to military support is growing. The Associated Press (23 May.)
European Securities and Markets Authority official Verena Ross has hailed the success of the revised Markets in Financial Instruments Directive, but the financial-services sector says it has seen little benefit. Financial Times (subscription required) (23 May.)
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