The Sham of Shareholder Capitalism
The mythology of shareholder capitalism does not stand up to scrutiny.
Read more...Category Archives: Investment management
Hubert Horan: Can Uber Ever Deliver? Part Twenty: Will the “Train Wreck” Uber/Lyft IPOs Finally Change the Public Narrative About Ridesharing?
A post-mortem of the Uber and Lyft IPOs.
Read more...Gregory Travis and Marshall Auerback: Anatomy of a Disaster – Why Boeing Should Never Make Another Airplane, Again
Is Boeing itself on a crash course?
Read more...How Kentucky Tried to Make the Country’s Worst-Funded Public Pension Plan Even Worse
Many public pension funds are in a very deep underfunding hole, and too many are resorting to high fee investment strategies that at this point in the cycle are costly hopium. Gordon Hamlin, a pro bono advier to public pensions, sets forth a strategy for the most deeply underfunded state pension, the Kentucky Retirement System.
Read more...SEC to Relax Audit Requirements for Small Companies, Thus Facilitating Future Accounting Fraud
SEC proposes relaxing internal control attestation requirements for companies with annual revenues of less than $100 million.
Read more...CalPERS Admits It Is Nowhere on Its New Private Scheme After More Than Two Years
Why CalPERS’ private equity “new business model” dithering is looking an awful lot like Brexit.
Read more...Private Equity Investors’ Pockets Picked Even More With Increases in Carry Fees
More evidence that private equity is an exercise in separating fools from their money.
Read more...CalPERS Wastes Fund Assets on a Sham Investigation to Intimidate Board Members
CalPERS resorts to a “garbage in, garbage out” investigation to try to bully board members who have the temerity to ask questions and talk to the press.
Read more...World Bank Financialization Strategy Serves Big Finance
The World Bank continues its proud tradition of making the world safe for rentiers, um, financiers.
Read more...Memo to CalPERS: The Market Won’t Provide High Returns Just Because You Need Them
A professional fund manager describes why CalPERS’ private equity strategy is irrational.
Read more...JJ Jelincic: CalPERS’ Plan to Create 2 New Private Equity Companies, Give Away Billions With No Control Makes No Sense….Except to Make Fund Managers Rich
CalPERS still can’t justify its new private equity business model, and has even retreated to calling it just a concept, yet it wants the board to sign a blank check at next week’s meeting.
Read more...CalPERS/Investor Alert: Award Winning Study Debunks “Warren Buffett” Fund Strategy; Buffett Does Better in Stocks Than Private Companies
Warren Bufett’s own experience calls “Warren Buffet funds” into question.
Read more...CalPERS CEO Marcie Frost Gives Contradictory, Nonsensical Justifications for Muscling the Board to Approve Private Equity Scheme in March
Frost’s justifications for CalPERS new private equity scheme becomes more incoherent as time goes on, but that is unlikely to prevent the captured board from giving it a green light.
Read more...Wall Street Journal Story Confirms That CalPERS Plans to Overpay Grossly in Its New Private Equity Scheme
More proof (as if you needed it) that CalPERS is clueless.
Read more...Warren Buffett Denounces Deficit Hawkery in His Latest Shareholder Letter
Warren Buffett hasn’t yet become an MMT advocate, but he’s officially decided that worrying about Federal deficits is besides the point.
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