• Bruno de Landevoisin
    09/21/2014 - 14:52
    Dear Janet; If I may be so forward, as a concerned citizen of the Constitutional Republic of the United States, it is with great consternation that I feel compelled to write you this distressing...

Private Equity

Tyler Durden's picture

First CalPERS, Now Texas Teachers Cut Hedge Fund Exposure





Earlier in the week, perhaps reflecting on the fact that 90% of hedge fund managers are overpaid, California Public Employers Retirement System (CalPERS) announced it would cut its entire exposure to hedge funds. It seems the decision is becoming more popular, as Bloomberg reports, the Teacher Retirement System of Texas, the sixth-largest U.S. public pension, has decided to cut its hedge fund allocation by 1 percentage point to only 8% of the fund. The decision enables the fund to reduce equity exposure and raise fixed income exposure.

 
Tyler Durden's picture

Frontrunning: September 19





  • Scots spurn independence in historic vote but demand new powers (Reuters)
  • Salmond’s Journey as Scotland’s Leader Ends Short of Destination (BBG)
  • European Stocks Rally to 6 1/2-Year High on Scottish Vote (BBG)
  • Jack Ma Planning Personal Roadshow With Clinton to Immelt (BBG)
  • Some consumers say Apple is losing its 'cool' factor (Reuters)
  • Gold IPhones at $3,600 as China Delay Fuels Black Market (BBG)
  • This Man's Job: Make Bill Gates Richer (WSJ)
  • Mom-and-Dad Banks Step Up Aid to First-Time Home Buyers (BBG)
  • France says it launches first air strikes in Iraq (Reuters)
 
Tyler Durden's picture

Frontrunning: September 18





  • House votes to arm Syrian rebels (Reuters).... aka ISIS
  • Fed Plots Cautious Course on Rate Rises  (Hilsenrath)
  • Scots vote in independence referendum to seal the United Kingdom's fate (Reuters)
  • Yes or No, the Winner of the Referendum Is Brand Scotland (BBG)
  • Draghi Loan Plan Missing Estimates Hampers ECB Stimulus (BBG) - get with the spin, it simply means "Moar QE"
  • Obama Plans to Tightly Control Strikes on Syria (WSJ)
  • IMF warns of risks from 'excessive' financial market bets (Reuters)
  • Russia Praises Ukraine's Autonomy Law for Rebel Areas (WSJ)
 
Tyler Durden's picture

Frontrunning: September 16





  • Thank you market Chief Risk Officer Bernanke/Yellen: Calpers to Exit Hedge Funds, Divest $4 Billion Stake (BBG)
  • World stocks hit one-month low, caution ahead of Fed (Reuters)
  • U.S. Efforts to Build Coalition Against Islamic State in Iraq, Syria Are Hampered by Sectarian Divide (WSJ)
  • Time to throw away some more good money: Sears Borrows $400 Million From Lampert’s ESL Investments (BBG)
  • Wildfires rage in California drought, hundreds forced to flee (Reuters)
  • United Offers $100,000 Buyouts to Flight Attendants (BBG)
  • Biggest Banks Said to Overhaul FX Trading After Scandals (BBG)
  • You mean you have to pay? Administration threatens to cut off ObamaCare subsidies to 360,000 (The Hill)
  • RBS Said to Dismiss Most of Team Overseeing Central Europe Debt (BBG) they will be hired by the ECB
 
Capitalist Exploits's picture

6 Ways to Improve Decision Making





Decision making it has a lot of implications for your success as an investor, as a business person, and even in your personal relationships. It is a skill which needs to be constantly developed, honed and refined.

 
Tyler Durden's picture

Have We Reached A Financial Singularity?





Encouraging and supporting asset bubbles is essentially the only force remaining to keep the system intact as we know it.

 
Tyler Durden's picture

Just How Bad Is Europe's Banking System? ESI Bonds Bid At Just 2% Of Face





Just three months ago, everyone was a believer: bonds traded well above par, Europe's recovery was on track, and Portugal's banking system was a shining example of how Europe's bailout program worked (and Goldman was pitching SPVs full of this crap to any and all greater fools). Today - the ugly truth is exposed as Bloomberg reports, Espirito Santo International debt attracted potential buyers at just 2% of face value. Of course, the words "contained" are trotted out to explain how this is a one-off and not at all representative of the rest of the European banking system. But... Howard Marks' Oaktree Capital seems to disagree - "We continue to think Europe will provide a substantial quantum of attractive investment opportunities for all of our strategies and in particular distressed debt," as a record amount of bad loans are being offloaded by European banks ahead of the stress tests.

 
Tyler Durden's picture

Frontrunning: September 3





  • Confusion as Ukraine and Russia announce progress towards peace (Reuters)... but not for stock buying algos, they know everything
  • Obama Expresses Skepticism About Possible Ukraine Cease-Fire (WSJ)
  • Fighters Unwind in Russia Where Beer Doesn’t Spell Death (BBG)
  • Despite dangers, U.S. journalist Sotloff was determined to record Arab Spring's human toll (Reuters)
  • New Beheading Video Spurs Calls for Global Response (BBG)
  • Christie’s Spending on Outside Lawyers Passes $50 Million (BBG)
  • IEX to Apply for Exchange Status (WSJ)
  • UK says not ruling out airstrikes against Islamic State, says hostage video genuine (Reuters)
 
Capitalist Exploits's picture

IQ, IP and 8 Commandments of Corporate Governance





Good corporate governance is a bedrock on which a company can let its intellectual creativity and innovation flourish. It is like a compost put into a vegetable patch for the spring planting.

 
Tim Knight from Slope of Hope's picture

The Great Deformation





Although I never thought it was possible, it makes me angry to write this book review. I'm not angry because I don't like the book. On the contrary, this is the best economics book I've ever read. Indeed, it may be the best and most influential book I've ever read in my life. I only wish I had read it the moment it was published in April 2013. 

 
Capitalist Exploits's picture

How Putin Just Saved Europe, and Other Geopolitical Tales





With Europe and the US on one side, and Russia and China on the other, the saying, "The enemy of my enemy is my friend" could best describe the current geopolitical situation

 
Tyler Durden's picture

Frontrunning: August 25





  • Jackson Hole Theme: Labor Markets Can’t Take Higher Rates (BBG), or anything else for that matter
  • Kidnappers free American missing in Syria since 2012 (Reuters)
  • More unpatriots: Burger King in merger talks with Canada's Tim Hortons (Reuters)
  • California Quake to Cost Insurers Up to $1 Billion, Eqecat Says (BBG)
  • Congo declares Ebola outbreak in northern Equateur province (Reuters)
  • Missouri Governor Defends Ferguson Prosecutor (BBG)
  • Kuroda Douses Japan Stimulus Expectations (WSJ)
  • London Jihadi Call Vies With Banks in Canary Wharf Shadow (BBG)
  • Netanyahu Signals Expansion of Air Attacks in Gaza (WSJ)
  • Libya's Islamist Militias Claim Control of Tripoli (WSJ)
 
Capitalist Exploits's picture

Rocky Mountain High





As they say, you're the average of the five people you spend the most time with...

 
Tyler Durden's picture

Frontrunning: August 18





  • Yellen Dashboard Warning Light Glows as Millions Work Part Time (BBG)
  • More US drones boosting global GDP: Unidentified war planes, explosions heard in Libyan capital (Reuters)
  • London Home Asking Prices Plunge Most in More Than Six Years (BBG)
  • Carney - Rate Hike before Pay Recovers (Times)
  • No Fed fireworks, but plenty of clues, expected at Jackson Hole (Reuters)
  • Kurdish, Iraqi forces in control of Mosul dam (Reuters)
  • China Pushes Cleanup of Banks (WSJ)
  • Russia Widens Ruble Trading Band in Move Away From Managed Rate (BBG)
  • Dollar General Makes $9.7 Billion Family Dollar Counterbid (BBG)
  • Autopsy finds unarmed teen killed by police was shot six times (NYT)
  • Bull Market Waning as Barclays Sees 1% Gain for S&P 500 (BBG)
  • Credit Suisse Caught Up in Espírito Santo Mess (WSJ)
 
Tyler Durden's picture

Frontrunning: August 15





  • Barack Obama's 'vacation from hell' (Politico)
  • Russian aid convoy checked; military vehicles mass near Ukraine (Reuters)
  • Ukraine Says APCs Entered From Russia to Aid Insurgents (BBG)
  • Islamic State Said to Challenge Al-Qaeda for Leadership (BBG)
  • Missouri protests calmer after governor puts black police captain in charge (Reuters)
  • Finally someone will prove the US is a pyramid scheme (in a 1000 page presentation): Ackman’s Pershing Square Sues U.S. Over Fannie, Freddie (BBG)
  • Banks, Financial Firms Load Up on Cheap Debt (WSJ)
  • Putin to Meet Finnish President as Threat of Cold War Grows (BBG)
 
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