Private Equity Clearly Inferior to Public Equity: Delivers Similar Returns With Lower Liquidity
More evidence that private equity underperforms on a risk-adjusted basis.
Read more...Category Archives: Investment outlook
Michael Hudson: Fed’s $10 Trillion Defends Assets of the Rich
Michael Hudson gives a detailed, if sobering, account of the outlook for the economy.
Read more...Public Pension Plans in a World of Hurt; Even Loyalists Warning of Grim Prospects
Not surprisingly, public pension fund economics look pretty sick.
Read more...Is EIA Data Disguising A Disastrous Decline In U.S. Shale?
Tallying some of the recent shale production cuts.
Read more...US Commercial Real Estate Prices Plunged in April, Mall Prices Collapsed
Looking at the bloodbath in commercial real estate…..and worse is almost certainly in store.
Read more...The False Dawn of Ending Coronavirus Lockdowns
It would be nice if relaxing the lockdowns would solve a problem, any problem….
Read more...More Public Pension Fund Pain: LACERS Reports Hit to Liquidity from Private Equity Capital Calls; Are Fund Managers Exploiting the Dumb Money Yet Again?
Private equity firms are sucking cash out of their limited partners at the worst possible time, exposing public pension funds in particular to liquidity crunches and fire sales.
Read more...Taleb Questions CalPERS Ben Meng’s Competence and Honesty in Defending Missed $1 Billion Hedge Gain; Taleb Estimates CalPERS Net Loss on Meng’s “Alternative Mitigation” Over Two Years at $19 Billion
Nassim Nicholas Taleb calls out one of CalPERS CIO Ben Meng’s Big Lies, and unearths an even bigger one.
Read more...The Fed Backfires: Shock and Awe Rate Drop to 0%, Emergency Bond Buying Program Leads to Limit Down Drops in US Equity Futures as Real World Coronavirus Damage Worsens
The Fed just told everyone to assume the brace position.
Read more...Boeing Crashes: $43 Billion in Share Buybacks Turn into Existential Threat
Yves here. When we made grim prognostications about Boeing’s future, we were treated as nuts. By Wolf Richter, editor at Wolf Street. Originally published at Wolf Street Boeing’s shares [BA] came unglued, plunging 18.1% today, after having already plunged over the past four weeks. Since February 12, shares have crashed 46%, and since the peak […]
Read more...Mr. Market Loses It Over Coronavirus Risk: Oil Tanks, S&P Futures Trades Halted on Limit Down Overnight, Gold Jumps
Coronavirus infects Mr. Market.
Read more...Airlines: Bleeding from Coronavirus, and Worse to Come
Coronavirus carnage continues, particularly at bankruptcy-prone airlines.
Read more...Is the U.S. Fracking Boom Based on Fraud?
Is the seamy side of fracking the only side?
Read more...HSBC Announces Mass Job Cuts, Huge Write-Down, Asset Sales, Halt of Share Buybacks. Warns of Coronavirus Impact on Credit Losses & Revenues in China & Hong Kong
Once storied, now sprawling TBTF HSBC has started a big retrenchment in the face of mounting business woes. Is it the canary in the coal mine?
Read more...Yet More Finance Profiteering: Green Bonds
Count on Wall Street to find a profit angle in actual or pending disaster. Green bonds are becoming a hot idea.
Read more...