Oxford Professor Phalippou: Since 2006, Private Equity Has Produced Only S&P 500 Returns While Reaping $400+ Billion in Fees
Oxford professor Ludovic Phalippou gives a decisive debunking of the claim that private equity outperforms.
Read more...Author Archives: Yves Smith
Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters
Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.
Read more...Trump’s Illegal Economic Sanctions Against Iran Start Up
With its newest sanctions, the Administration ratchets up its “regime change in Iran” strategy. Not a good look.
Read more...How Hedge Fund Activists Coopted “Shareholder Democracy”
How hedge fund activists, who largely operate as a type of corporate raider, have subverted the notion of “shareholder democracy” and what can be done to rein them in.
Read more...Wall Street Journal Parrots SEC’s Excuses for Big Delays in Whistleblower Payouts
The SEC succeeded in spinning the Wall Street Journal’s story on the large delays in paying out whistleblowers whose tips led to successful enforcement actions.
Read more...CalPERS Loses Over $500 Million on Botched Timber Investment; May Have Sold at Bottom of Market
CalPERS wrongfoots another big alternative assets investment, this one in timber.
Read more...Links 8/4/18
3 Blokes In The Pub…Talk No Deal Brexit
Nitty gritty details of what happens with a crash-out Brexit, made accessible and even entertaining.
Read more...Do Fair Trade Labels Actually Mean Anything?
How to tell borderline sham fair trade certifications from the real deal.
Read more...Meetup in Minneapolis This Thursday, August 9
The Minneapolis meetup group strikes again! Hope you can join the fun!
Read more...Inequality and Ordinary Living Standards in Rich Countries
How the evolution of the rise in inequality in the US has dominated and distorted economists’ and pundits’ commentary; data show that some pet generalizations don’t hold up.
Read more...Financial Times Goes Wobbly on Brexit; Runs Front Page Stories Claiming Theresa May Charm Offensive Is Winning “Fudges” When No Such Thing Is Happening
The Financial Times has used two lead stories this week to deliver factuall-challenged propagandizing for the Government’s Brexit maneuvers.
Read more...Wolf Richter: Tesla Discloses Worst Quarterly Loss Ever, But Where Are the 17,000 Model 3 Cars it “Produced” But Didn’t “Deliver”?
So far, the SEC and investors are ignoring Tesla’s sus-looking production figures.
Read more...Austerity Caused Brexit
Yves here. Lambert sent me a copy of the underlying paper on Brexit voting patterns a week ago, suggesting I write it up. I sat on it due to focusing on seemingly more pressing stories, plus being behind on administrativa due to travel. I’ve embedded the article at the end of this post. This finding […]
Read more...Gaius Publius: There Will Be No Chinese Century
Why on current trajectories, China (and the US) are toast.
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