A few weeks ago I published my Top 5 Institutional Investor Themes on Business Insider. Number one on the list was an increasing allocation to real assets driven in part by an uncertain inflationary outlook. Since that post, the World Economic Forum (WEF) has published its Future of Long Term Investing [...]
Reporters asked 20 questions at the Fed Chair’s first ever press conference. The conference went for one hour and commenced with a detailed statement from the Chairman. Reporters then asked 20 (respectful) questions. A very quick transcript of those questions and the points the Chairman made in reply are set out below. Questions are in [...]
1. Chicago Fed (May 2011 Letter): Richard Mattoon of the Chicago Fed provides a useful (and brief) overview of the state of municipal finances and argues that the market is over-estimating the risk of muni debt defaults and bankruptcies. Unfortunately and as Richard himself notes, unfunded muni pension obligations sit off balance sheet [...]
1. Economist (Pensions): The Economist published a special report (8 stories) on global pension schemes last week which has some interesting data. I recommend reading the cover story which gives an overview of the major systems as well as a comparative study of support ratios country-by-country.
2. Economist (Pensions): The other [...]
1. Economist: The Economist wrote last week about a settlement offer in the long-running Lehman mini-bond saga in Hong Kong. Tens of thousands of retail investors were affected when Lehman’s CDO collateralized bonds stopped paying out in 2008. This also signalled the start of a cold snap for investors seeking the SFC’s approval [...]
Everywhere you look at the moment inflation is a hot topic. Or is it? “In everyday usage, these expressions (ed. inflation and deflation) are based upon an entirely untenable idea of the stability of the value of money, and often also on conceptions that ascribe to a monetary system in which the quantity of money [...]
1. Humanizing the business
2. People & Philosophy
5. Strategy & Decision Making
7. Marketing & PR
8. INVESTMENT PROCESS
9. Regulation & compliance . The investment process is central to the marketing of systematic, quantitative and emerging investment programs (and [...]
1.Drew Carter (P&I): Drew reports that as many as half of the better emerging markets equity managers are soft-closed due to strong flows and capacity constraints. This created challenges for Vanguard in building out its new retail EM equity fund expected to launch in the summer.
2. Christine Williamson (P&I): Christine [...]
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