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.
A working group on risk-free rates at the Bank of England wants greater focus on adoption of the Sterling Overnight Index Average. "It would be appropriate to begin considering more granular milestones with a more targeted approach," according to minutes from the group. Futures & Options World (subscription required) (13 Dec.)
Congress took a break for the holidays without a plan for heading off a partial shutdown of the US government next week. Talks on keeping the government running haven't progressed since President Donald Trump said he is willing to take the blame for a shutdown if he doesn't get funding to build a wall along the border with Mexico. Politico (13 Dec.)
Almost half of economists in a recent poll for The Wall Street Journal said the risk of a trade war between the US and China was their biggest concern for the US economy in 2019. Other concerns were disruption to financial markets, business-investment slowdown and fallout risk from an increase in interest rates. The Wall Street Journal (tiered subscription model) (13 Dec.)
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