Category Archives: Investment management

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.

World Bank Financialization Strategy Serves Big Finance

The World Bank continues its proud tradition of making the world safe for rentiers, um, financiers.

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.

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.

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.

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.

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.

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.

Los Angeles Times Barks Up the Wrong Tree With CalPERS/American Media Inc. (National Enquirer) Story

The Los Angeles Times tells the story of a CalPERS investment misfire to maximize the outrage factor, and does taxpayers a huge disservice by missing who the real perps were (mind you, not to say that CalPERS isn’t too easy a mark….)

Don’t “Buyback” Fair Labor Standards

Why the Schumer/Sanders bill on stock buybacks isn’t a very good instrument for improving labor rights and work standards.

CalPERS Chief Investment Officer Ben Meng Lied About Private Equity to State Senator Dr. Richard Pan at Joint Pension Committee Hearing

CalPERS lied to the wrong person. State Senator Dr. Richard Pan is smart enough to know he was snookered when word gets back to him.

How Imperfect Knowledge Shapes Financial Markets

A discussion of various theories of how financial markets set prices.

Hubert Horan: Can Uber Ever Deliver? Part Seventeen: Uber’s 2018 Results Still Show Huge Losses and Slowing Growth as IPO Approaches

It is hard to see how Uber’s IPO story will hold up to scrutiny, particularly at a planned valuation of $120 billion.

Even Endowments Not Beating Vanguard….So What Good Are Those High Fee Private Equity and Hedge Funds?

Even endowments, the supposed best of best among diversified investors, are finding that their old alternative investment mojo isn’t working these days.