Debt Has Not Been Caused by Low Interest Rates, but Higher Rates Would Topple the Whole World Economy
Yet more official hand-wringing about interest rates…when they aren’t the core economic problem.
Read more...Category Archives: Investment management
Estuaries, Climate Change, and “Blue Carbon”
Estuaries defined, whether they are carbon sources or carbon sinks, and an excursion into the world of climate NGOs through “blue carbon.”
Read more...CalPERS Should Thank Us for Publicizing, and Therefore Undermining Their Repeated Efforts to Hand Private Equity Portfolio to BlackRock: BlackRock’s Mark Wiseman Fired for Affair With Subordinate, Leading to Suspension of New Investments from “Warren Buffett” Style Megafund
How we helped CalPERS, despite the fund’s concerted efforts, dodge a BlackRock bullet.
Read more...Private Equity’s Uninvested “Dry Powder” and Falling Returns Reflect a Bigger Problem: The End of a Long Term Disinflationary Tail Wind
The press is finally becoming skeptical of private equity’s claims that it generates superior returns, demonstrated by a Monday Wall Street Journal story, Private-Equity Cash Piles Up as Takeover Targets Get Pricier1 and a Bloomberg article yesterday, ‘Peak’ Private-Equity Fears Are Spreading Across Pension World. This follows a Mark Hulbert piece in MarketWatch, whose title […]
Read more...Private Equity Under the Hot Lights Today at House Financial Services Committee Hearing, “America for Sale?”
Private equity gets some long overdue scrutiny.
Read more...How the Fed Boosts the 1%: Even the Upper Middle Class Loses Share of Household Wealth to the 1%. Bottom Half Gets Screwed
It is bizarre to see the Fed present data showing the Gilded Age level of wealth accumulation by the 1% as if that were a badge of honor.
Read more...The Myth of Shareholder Primacy
A surprising alliance of big business, activists and left-wing politicians have condemned the shareholder value paradigm. But did it ever really exist?
Read more...CalPERS Follows Naked Capitalism Recommendation: Does 180 on Emerging Managers by Dumping Managers, Slashing Commitments, Defying Board-Authorized Plan Through 2020
CalPERS has belatedly followed our advice and is radically cutting back on its so-called emerging managers.
Read more...CalPERS Abandoning Passive Equity Investing
alPERS has made big changes to how it invests, yet the press has barely noticed.
Read more...CalPERS Short-Changed by CIM in Pay-to-Play/Bribery Scandal; Looks Like Apollo Stiffed CalPERS Too
How CalPERS was cheated by conniving fund managers, as is pervasive among private equity investors.
Read more...CalPERS Election Corruption: Huge and Illegally Opaque Dark Spending Against Pro-Accountability Candidate JJ Jelincic
Yet more on CalPERS election shenanigans.
Read more...CalPERS Engineering Board Resignation: Underhanded, Dishonest Plans to Cut Investment Meetings of Poorly Performing Fund by More Than 50%, Shrink Investment Committee
The first of a two-part series describing the process and substance with which CalPERS staff is trying to engineer a de facto resignation of its board.
Read more...CalPERS Board President Henry Jones Exposed for Leaking Confidential “Closed Session” Information; Board Member Theresa Taylor Gives Factually-Challenged Denial of Her Closed Session Leak
The hypocrisy of CalPERS’ board is on full display yet again.
Read more...CalPERS Board Member Theresa Taylor Breached Confidentiality, Board Engaged in Apparent Criminal Violations of Open Meeting Law in Attacks on Pro-Transparency Board Membrs
CalPERS has managed to outdo itself, in a predictably bad way.
Read more...CalPERS Staff Caught Out in Yet Another Power Grab, Tries Gagging the Board With Staff’s “Board Code of Conduct”
The CalPERS board continues to waste time on tinpot tyranny rather than focusing on the challenge of the penion system’s substantial underfunding.
Read more...