CalPERS supposed star hire Ben Meng just cost the giant fund $1 billion, over the objections of expert adviser Wilshire Associates.
Recent Items
Sunday, October 6, 2024
CalPERS Dumps Risk Hedge Right Before Coronacrash, Sacrificing $1 Billion and Confirming Doubts About Chief Investment Officer Ben Meng’s Expertise
Topics: CalPERS, Dubious statistics, Investment management, Risk and risk management
Posted by Yves Smith at 6:50 am | 21 Comments »
COVID-19 Crisis Threatens Beleaguered Assisted Living Industry
Unregulated assisted living facilities are becoming hotbeds of coronavirus cases.
Topics: Guest Post, Health care, Pandemic, Regulations and regulators
Posted by Yves Smith at 3:47 am | 10 Comments »
2:00PM Water Cooler 4/9/2020
Today’s Water Cooler: I’m still feeling the effects of “Super Pink Moon,” and I don’t feel like writing a summary. Sorry, not sorry. Plenty inside, though.
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 217 Comments »
Overloaded Morgues, Mass Graves and Infectious Remains: How Forensic Pathologists Handle the Coronavirus Dead
The handling of the dead is a major but not much discussed challenge with coronavirus.
Topics: Doomsday scenarios, Guest Post, Health care, Pandemic
Posted by Yves Smith at 9:55 am | 25 Comments »
Links 4/9/2020
Topics: Links
Posted by Yves Smith at 6:55 am | 279 Comments »
The Misguided Discussion of “Herd Immunity”
On the large gap between what the public and the scientific/medical community think about Covid-19 immunity, including testing for it.
Topics: Doomsday scenarios, Dubious statistics, Health care, Pandemic, Science and the scientific method
Posted by Yves Smith at 6:53 am | 160 Comments »
Last Chance to Save the Euro?
The actions taken so far to salvage the single-currency union expose its fatal flaws. The last bout of stress will be a test to destruction if fundamental changes aren’t made.
Topics: Credit markets, Currencies, Doomsday scenarios, Economic fundamentals, Guest Post, Macroeconomic policy, Pandemic, Politics
Posted by Yves Smith at 5:41 am | 21 Comments »
The Coming Debt Crisis
Emerging market economies loaded up on debt after the crisis, which is now looking like a particularly bad move.
Topics: Banking industry, Credit markets, Doomsday scenarios, Economic fundamentals, Globalization, Guest Post, Pandemic
Posted by Yves Smith at 5:16 am | 16 Comments »
2:00PM Water Cooler 4/8/2020
Today’s Water Cooler: Plenty of other news, but the big news is that Sanders “suspends” his campaignl.
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 434 Comments »
Angela Merkel Urged To Put European Solidarity Over German Interests and Back Coronabonds
Angela Merkel is under pressure to abandon her long-standing “Germany first” policy towards the EU. Will she finally relent?
Topics: Doomsday scenarios, Economic fundamentals, Europe, Guest Post, Macroeconomic policy, Pandemic
Posted by Yves Smith at 9:55 am | 50 Comments »
Links 4/8/2020
Topics: Guest Post, Links
Posted by Lambert Strether at 6:55 am | 397 Comments »
Martin Wolf and Wishful Thinking on Ending Coronavirus Lockdowns
It would be nice to go back to something like the old normal. But the coronavirus is still very much in charge.
Topics: Doomsday scenarios, Dubious statistics, Economic fundamentals, Health care, Income disparity, Pandemic, Politics, Regulations and regulators, Risk and risk management, The dismal science
Posted by Yves Smith at 6:50 am | 121 Comments »
How to Pay for the Pandemic War
Government responsese to the pandemic are making a hash of one of the comparatively easy issues.
Topics: Banana republic, Doomsday scenarios, Economic fundamentals, Guest Post, Macroeconomic policy, Pandemic
Posted by Yves Smith at 4:35 am | 33 Comments »
New York Fed, FDIC Tout “Opacity in a Banking Crisis” to Keep Corporations, Hedge Funds, PE Firms & Counterparties in the Dark about Weak Banks
An article by Fed and FDIC researchers argues for hiding banks’ dirty laundry. Too bad the authorities didn’t make banks shape up instead.
Topics: Banana republic, Banking industry, Doomsday scenarios, Guest Post, Payment system, Regulations and regulators, Ridiculously obvious scams, Risk and risk management
Posted by Yves Smith at 3:09 am | 9 Comments »
Online Education in the Covid-19 Crisis: “It’s Like Coke Dealers Handing Out Free Samples”
How coronavirus is being used to advance the anti- public-education agenda
Topics: Free markets and their discontents, Guest Post, Pandemic, Social policy
Posted by Yves Smith at 9:55 am | 86 Comments »