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 majority of US firms say establishing a Chinese research and development center is of minimal importance compared with other regions, according to a survey by the American Chamber of Commerce in Shanghai. Less than 4% of businesses say China is their most important R&D center, citing factors including poor protection of intellectual property rights. South China Morning Post (Hong Kong) (19 Apr.)
The 30-year fixed-rate mortgage probably does not need a government guarantee to survive, Randal Quarles, Federal Reserve vice chairman for supervision, said at a Senate banking committee hearing. US Sen. Heidi Heitkamp, however, said, "There are a number of people in smaller or midsized institutions who believe it would be difficult to take a 30-year interest-rate risk without some kind of assurance they could offset that risk." MarketWatch (19 Apr.)
The "Fearless Girl" statue, which stands opposite the "Charging Bull" statue in New York City, will move to a space outside the New York Stock Exchange because its location poses a safety risk, Mayor Bill de Blasio says. "Charging Bull" also might relocate, but no timeline or location has been set, the mayor's office says. The New York Times (tiered subscription model) (19 Apr.)
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