Category Archives: Investment management

New Investment Gimmickry: Covid-19 Bonds

Covid-19 has engendered investment grifting.

Wall Street Journal’s Apologia for Private Equity Letting Companies Go Bust

The Wall Street Journal unwittingy defends private equity destructiveness.

LA Times’ Michael Hiltzik Shellacks CalPERS for Trumped-Up Attacks on Board Member Margaret Brown, Toadying to Staff Instead of Providing Oversight

Mike Hiltzik gives the CalPERS board yet another well-warranted dressing down.

Board Member Margaret Brown Sues CalPERS, Board President Over Gang-Style Retaliation for Efforts to Oppose Its Incompetence

Board member Margaret Brown has finally had it with CalPERS’ dirty tricks.

CalPERS Plans to Blow Its Brains Out: Seeks to Increase Risk by Boosting Private Equity, Private Debt, and Leveraging the Entire Fund

CalPERS latches on to new, really bad investment ideas.

Private Equity Clearly Inferior to Public Equity: Delivers Similar Returns With Lower Liquidity

More evidence that private equity underperforms on a risk-adjusted basis.

Private Equity Gets New Pockets to Pick: Your 401(k), in Funds Repeatedly Cited by the SEC for Abuses

While the US was busy with coronavirus and George Floyd protests, private equity stormed the retail investor barricade.

Wall Street’s Useful Idiot: Financial Times Shills for CLOs….as Fed Hasn’t Bailed Them Out

A major story on the CLOs chooses not to address the key questions.

Public Pension Plans in a World of Hurt; Even Loyalists Warning of Grim Prospects

Not surprisingly, public pension fund economics look pretty sick.

Universa Debunks CalPERS’ Defense of $1 Billion Tail Hedge Miss; Insider Accounts Expose Additional Misrepresentations

CalPERS efforts to ‘splain away its $1 billion tail hedge fiasco backfire as one of the tail risk managers, Universa, shreds CalPERS’ claims.

Fed Drastically Slashed Helicopter Money for Wall Street. QE Down 86% From Peak Week in March

Keeping tabs on Fed munificence.

More Public Pension Fund Pain: LACERS Reports Hit to Liquidity from Private Equity Capital Calls; Are Fund Managers Exploiting the Dumb Money Yet Again?

Private equity firms are sucking cash out of their limited partners at the worst possible time, exposing public pension funds in particular to liquidity crunches and fire sales.

CalPERS Out of Control: Stunningly High Number of Personal Trading Violations, Yet Board Ignored the Misconduct

CalPERS yet again manages to exceed expectations in a bad way.

Mitch McConnell to State Pension Funds: Drop Dead

Prominent Republicans are threatening to gore the public pension fund ox.