Repeat after me: hedge funds produce little to no alpha, and contrary to what the Financial Times would have you believe, investors have known that for quite a while.
Read more...Some more reasons why Deutsche Bank looks like one to avoid
Read more...How banks finesse cyber security risks despite hand waiving by governments and exhortations for the industry to “do something”.
Read more...Governments are combining aggressive, ambitious talk with a curious helplessness in warning banks they really should be Doing Something about terrorist risk.
Read more...Junk bonds are at 2008 bottom levels by some measures. But are they a bargain, or a falling safe?
Read more...I suppose we’re going to have to deal with half-truths and logical stretches about Dodd-Frank right through until November, but Bernie Sanders’ focus on Wall Street has really ramped this up of late. The trajectory appears to be a show of proof of some sort, followed by a blog link from Paul Krugman, at which point the citation hardens into conventional wisdom. The version of this that began a few days ago with Wonkblog’s Matt O’Brien has a level of truth to it, of course, but I don’t think it reveals exactly what its endorsers think.
Read more...CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.
Read more...Italian banks’ extend and pretend game may be coming to an end.
Read more...Fund manager cash holdings are at crisis-bottom levels, typically a sound bullish indicator. But will history predict the future this time?
Read more...Pre-crime has arrived.
Read more...Larry Summers, acting as a proxy for Team Clinton, attacked Sanders’ reform proposals, particularly the an updated Glass Steagall. Her’s why Summers is wrong.
Read more...I have wanted to leave CalPERS alone. Really. Truly. But they keep asking for attention in the worst possible way.
Read more...The IPO market shutting down does not bode well for private equity returns, and may be sending a warning about real economy prospects.
Read more...A Los Angeles Times headline recapping a board meeting Monday says it all: “CalPERS shelves controversial private equity policy.”
Read more...How Michael Lewis’ The Big Short, whether for profit or by accident, has denied the public the truth about what really causes the crisis.
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