Category Archives: Investment management

CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5% (Updated)

CalPERS posts crappy results and its disclosure isn’t too hot either.

How Finance Costs Too Much and Fails to Deliver

The costs of looting by the financial services industry are even more staggering than you probably imagined.

How Treasurer Chiang’s Designee Grant Boyken Duped CalPERS’ Board to the Detriment of Taxpayers and Beneficiaries

How California Treasurer John Chiang’s deputy, Grant Bokyen, snookered CalPERS’ board to facilitate gutting a private equity reform bill.

Private Equity Industry Offers Intelligence-Insulting Defenses for Long-Standing Grifting Due to Refusal to Register as Broker-Dealers

Private equity firms insist that they continue to violate broker-dealer requirements. Why? So they can carry on looting.

How Private Credit Rating Agencies Reinforce Global Economic Instability—and What We Can Do About It

A look at a fundamental point of failure in our financial system, rating agencies, and potential remedies.

OC Register: CalPERS Expected to Show Multi-Billion Loss for Fiscal Year Ended June 30, 2016

CalPERS at best laid a big goose egg for its 2015-2016 results. It remains in denial about its return prospects, to the detriment of beneficiaries and taxpayers.

Why Private Equity Does Not Outperform

A new article gives a concise and readable debunking of the myth of private equity outperformance.

California Treasurer Chiang’s Private Equity Transparency Three Card Monte

California Treasurer John Chiang promised landmark private equity transparency but instead acted as a stooge of the private equity industry and failed to stand up to captured public pension funds.

Kentucky Pension Fund: “Like a 3rd World Country with 2 Different Governments Claiming Power”

Kentucky is now practicing pension fund governance at the barrel of a gun.

HR 5424, “Investment Advisers Modernization Act,” a “Get Out of Madoff and Other Frauds for Free” Bill, Passes Financial Services Committee

HR 5424, intended to make life even easier for potential securities law abusers, got considerable support from Democrats on the Financial Services Committee.

Hedge Fund Shakeout Continues

The hedge fund industry has been bloodied but is far from bowed.

“Finance is Just Another Industry”

A debunkng of the claim that finance is special and should be treated accordingly.

CalPERS-TH Lee Row Over Private Equity Fee Abuses Demonstrates Failure of SEC Oversight

CalPERS’ inability to get TH Lee to disgorge ill-gotten fees shows how hopelessly one-sided private equity investing really is.

Investment Case Study: Some Oxford Dons Take Skeptical Look at Yale and Canadian Investment Fads, Um, Models

Believe it or not, a case study on major approaches to investing that is both informative and fun to read.