Author Archives: Yves Smith

CalPERS Abandons One Part of Private Equity Scheme, Lies About the Rest, but Addled Business Press Continues to Get the Story Wrong

CalPERS is flailing about with its private equity “new business model.”

Reminder: Birmingham Meetup for Monday, November 19

Hope to see you folks in the Birmingham area next week at our meetup.

Our New York Magazine Article: “Fake ‘Unicorns’ Are Running Roughshod Over the Venture Capital Industry”

Fake unicorns are a real problem for the venture capital industry.

Links 11/15/18

Brexit: Brexit Minister Raab Resigns; May to Face Hostile Parliament. Update: Two More Resignations, Bringing Total So Far to Four, Now Six

Another rough Brexit day for Theresa May in the offing.

Uber Releases Ugly 3Q 2018 Results: Losses Widen to $1.1 Billion, Growth Slows

It”s getting hard to believe Uber’s story.

Is This Time Different? Examining Recent Emerging-Market Turbulence

Some emerging-market economies look wobbly. How likely are we to see more crises?

High Stakes, Entrenched Interests And The Trump Rollback Of Environmental Regulations

Trump’s “progress” in gutting environmental protections.

Links 11/14/18

Brexit: May at Her Marks to Run a Gauntlet. Update: Cabinet Approves Draft Agreement

Brexit spectacle is about to kick into a higher gear.

Apple’s “Capital Return Program”: Rewarding the Wrong People

nstead of rewarding the taxpayers and employees who actually create value for the tech giant, Apple is doling out massive stock buybacks

Confidence or Dead CEO Walking? CalPERS Staff Pressured to Wear Badges of Support

Yet another embarrassment at CalPERS.

Trump and the Midterms: Is It Not The Economy, Stupid?

What role did the state of the economy likely play in the midterm results?

Links 11/13/18

Brexit: A State Change Nigh? Updated: UK and EU Said to Reach Agreement; Key MPs Denounce It

If May does not get her vaunted Brexit breakthrough this Wednesday, the UK will have to start passing “no deal” emergency legislation and laying out funds for preparation. Expect the dial to go to 11 if that happens.