Shareholder Value Theory: Social Responsibility Can Increase ROI
Acting on social responsibility demands isn’t just good PR. It can be a sound strategy.
Read more...Category Archives: Investment management
Fake Unicorns: Study Finds Average 49% Valuation Overstatement; Over Half Lose “Unicorn” Status When Corrected
Investors beware! A large scale study found that every unicorn it looked at was overvalued, on average to a significant degree.
Read more...Original Shareholder Value Article – Milton Friedman to GM: Build Clunky Cars
Yet another reason to doubt the supposed wisdom of the “shareholder value” theory of corporate governance.
Read more...Private Equity Firms Sued Over Retailer Bankruptcies
Private equity is getting more critical coverage and legal pushback, as it wrecks yet more companies.
Read more...SEC Punts on Unfinished Dodd-Frank Agenda, Thus Avoiding Congressional Review Act
The biannual statement of the SEC regulatory agenda quietly deep sixes some long-pending measures, saving them from CRA challenge.
Read more...More Criticism of Private Equity Leverage on Leverage Via Subscription Line Financing
In a refreshing development, a private equity con, subscription line financing, is so extreme that members of the industry are opposing it.
Read more...Why CalPERS’ Scheme for an “Independent” Private Equity Entity Is the Wrong Solution to the Problem of Weak Skills
Further discussion of why CalPERS’ latest Big Idea for private equity needs a Big Rethink.
Read more...CalPERS Board Uncomfortable With Staff’s “Fire, Aim, Ready” Plan to Create Unaccountable Private Equity Vehicle
CalPERS’ staff is trying to railroad the board with a not-very-well-thought out idea of an “independent” private equity venture.
Read more...The Retirement Wealth Inequality Machine
A fine, high level description of the retirement problem in the US, coupled with a not-as-stellar remedy.
Read more...Doubling Down on Deregulation: SEC Extends JOBS Act Benefit in Elusive Quest to Goose IPO Market
SEC extends JOBS Act nonpublic IPO filing to all companies– despite evidence that relaxing securities law doesn’t help raise capital.
Read more...CalPERS’ CIO Plays Board Like a Fiddle, Uses Trumpian Tactics on Credulous True Believers
CIO Ted Eliopoulos digs CalPERS a bigger PR hole and CalPERS’ board is so thick that it approves.
Read more...CalPERS CIO Sings Out of Tune, But Board Applauds His Poor Performance
A former chief investment officer critiques a remarkable, and not in a good way, performance by CalPERS’ CIO Ted Eliopoulos.
Read more...CalPERS to Game Benchmarks Yet Again to Flatter Private Equity, Understate Risk, Boost Staff Bonuses
CalPERS is lying with numbers yet again, this time with its private equity benchmarks.
Read more...CalPERS Internal News Site Ignores Unfavorable Stories, Steals Copyrighted Material
One of the reasons we’ve had insight into what CalPERS is thinking is that it has an internal news site that it curiously has not password protected, as you’d expect, particularly given how it operates.1 Historically, we found it useful not only because it gave us insight into what the Office of Public Affairs (PAOF) […]
Read more...Exxon Suffers Stinging Defeat On Shareholder Climate Resolution
Today, Trump looks set to scupper Paris Accord; yesterday, Exxon shareholders passed resolution requiring greater climate change disclosure.
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