World Bank Financialization Strategy Serves Big Finance
The World Bank continues its proud tradition of making the world safe for rentiers, um, financiers.
Read more...Category Archives: Investment management
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.
Read more...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.
Read more...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.
Read more...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.
Read more...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.
Read more...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.
Read more...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….)
Read more...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.
Read more...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.
Read more...How Imperfect Knowledge Shapes Financial Markets
A discussion of various theories of how financial markets set prices.
Read more...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.
Read more...Can Shareholder Activism Tame the Financial System?
Is shareholder activism capable of achieving lasting change?
Read more...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.
Read more...Reining in Leveraged Lending
Yves here. This article pre-supposes that readers understand that most leveraged lending is taking place as a result of private equity, via two routes. First, private equity funds use a great deal of borrowed money when buying companies. One of the biggest sources is so-called leveraged loans, which are normally originally made by banks, but […]
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