Our New York Magazine Article: “‘Alpha Wolves in the Henhouse’: California’s Multibillion-Dollar Private-Equity Boondoggle”
Putting CalPERS under the hot lights for its questionable private equity plans.
Read more...Category Archives: Hedge funds
Pathbreaking Fiduciary Duty Suit Against KKR/Prisma, Blackstone, PAAMCO, and Others to Proceed
An important fiduciary duty lawsuit against some of the biggest names in the hedge fund and private equity worlds is moving forward. If the plaintiffs win, it could change the balance of power between investors and fund managers.
Read more...American Life Expectancy Continues to Fall: Rise in Suicides, Overdose Deaths the Big Culprit
America’s falling life expectancy is a symptom of rising social distress.
Read more...Sears Bankruptcy Engineered to Benefit Executives and Stiff Workers
Another look at the ugly Sears bankruptcy.
Read more...Sears’ Terminal Slide: Bankruptcy and Likely Liquidation
Bankruptcy can only restructure debts; it cannot revive Sears’ mutilated brands and bring back mauled customers.
Read more...Landmark Kentucky Pension Case Against KKR, Blackstone, and PAAMCO to Move to Trial?
An update on an important pension fund fiduciary duty case.
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...Michael Hudson: Argentina Gets Biggest IMF Loan in History
Leftout podcast of The Hudson Report, with Michael Hudson, discussing the award to Argentina of the biggest loan in the IMF’s history (includes transcript).
Read more...Did Small-Time City Operator Nigel Farage Trade His Way Into a Fortune in the Brexit Vote?
Hedgies made hundreds of millions speculating on the British pound the night of Brexit. Did Brexiteer Nigel Farage help them do it?
Read more...CalPERS Chief Investment Officer Ted Eliopoulos to Leave at Year End; Investment Office Adrift Due to Senior Level Vacancies
Why the departure of Ted Eliopoulos from CalPERS could wind up being the end of an era.
Read more...New Report: Most State Pension Funds, Including CalPERS, Lag 60/40 Investment Mix at Higher Cost, Resulting in Even Higher Shortfalls
Yet another stunning indictment of public pension fund management. If the biggest funds with the best staffs can’t beat a simple Vanguard portfolio, why aren’t more heads rolling?
Read more...Current Kentucky Retirement Systems Trustees Considering Throwing Predecessors Under the Bus to Get Blackstone and KKR
Is a pension fund management revolution brewing in what would seem to be the most unlikely place, that hotbed of corruption, the Kentucky Retirement Systems?
Read more...Buffett, Bezos, and Dimon Launch “An Undertaking of Great Advantage” to “Innovate” in Health Care
Decoding the press release on the new health care venture from Berkshire Hathway, Amazon, and JP Morgan.
Read more...Rail Workers Acquitted in Trial on Deadly Lac-Mégantic Oil Train Disaster
A jury acquitted front line workers in the horrific Lac-Mégantic “bomb train,” but the higher-ups have not been held to account.
Read more...Lawsuit Against Blackstone, KKR/Prisma, PAAMCO, Kentucky Retirement System, and Others Has Major Implications for Public Pension Funds
A case filed at the end of last year, Mayberry v. KKR, hasn’t gotten the attention it warrants. The suit, which we’ve embedded at the end of this post, was filed on behalf of the beneficiaries of Kentucky Retirement Systems (KRS), the state’s public pension fund and its taxpayers, against Blackstone, KKR/Prisma, and PAAMCO for […]
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