Frontrunning: March 25
Cyprus Salvaged After EU Deal Shuts Bank to Get $13B (BBG)Last-minute Cyprus deal to close bank, force losses (Reuters)Anxious, angry Cypriots face uncertain future (Reuters)Spain Brings the Pain to...
View ArticleCalifornians: Prepare For A 50% Hike In Pension Costs
It is no surprise that pension funds in the US are significantly underfunded (median 72% funded). California Public Employees’ Retirement System (CALPERS), specifically, is about 26% short of meeting...
View ArticleDavid Einhorn's Q1 Investor Letter: "Under The Circumstances, It Is Curious...
Sadly, not much in terms of macro observations this quarter or discussions of jelly donuts, but a whole lot on the fund's biggest Q1 underperformer, Apple and the hedge fund's ongoing fight for...
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The Problems With Japan's "Plan (jg)B": The Government Pension Investment...
“So long as public funds ultimately are governed by the government, which is controlled by representatives of the general public, risk tolerance is subject to the general public’s risk tolerance, and...
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Guest Post: The Endgame Of State/Local Government Pensions
Submitted by Charles Hugh-Smith of OfTwoMinds blog,There is no way the pensions and benefits promised in an era of financialized abundance can be paid once the wheels of financialization fall...
View ArticleFrontrunning: November 29
So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters)Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG)FX to Libor Probes...
View ArticleFrontrunning: Friday 13
Presidential Task Force Recommends Overhaul of NSA Surveillance Tactics (WSJ)Monte Paschi's Largest Shareholder Says It Will Vote Against $4.1 Billion Capital Increase (WSJ)SAC Reconsiders Industry...
View ArticleFrontrunning: February 19
Ukraine leader denounces coup bid, West weighs sanctions (Reuters)Time to buy Imodium calls: Kuroda Easing Doomed as Yen Seen Missing 120 Level (BBG)Teens Disappear From U.S. Workforce (BBG)Fed Sets...
View ArticleFrontrunning: April 21
Putin playing the long game over Russian kin in Ukraine (Reuters)U.S.-Russia Relations Come Full Circle After Ukraine (WSJ)Japan PM makes offering to Yasukuni Shrine, angers China, South Korea...
View ArticleFrontrunning: April 24
China’s Biggest Banks Are Squeezed for Capital (NYT)Greeks detect hypocrisy as Dutch coalition stumbles (Reuters)Hollande Blames Europe’s Austerity Plan for Le Pen’s Rise (Bloomberg)In a Change, Mexico...
View ArticleFrontrunning: October 15
Hilsenrath Humor du jour: Bernanke Advocates Stronger Currencies (WSJ)Auditors want two more years for Greece on deficit (Spiegel)More bluster: Schaeuble Rules Out Greek Default as Samaras, Troika...
View ArticleFormer CEO Of Calpers Indicted On Financial Fraud Scheme Charges
There was a time when pervasive financial crimes would if not shock and appall people, then at least make them think for a minute or two. Sadly, now that even the biggest bank by assets is found to...
View ArticleFrontrunning: July 24
EU to weigh extensive sanctions on Russia (FT)U.S. lifts flight ban to Israel (Reuters)Russia says will cooperate with MH17 probe led by Netherlands (Reuters)Norway faces ‘concrete and credible’...
View ArticleFrontrunning: August 11
Maliki digs in as U.S. pushes for new Iraq government (Reuters)Ukraine's forces say close to taking rebel-held Donetsk (Reuters)Anger Over Michael Brown Shooting Leads to Looting (WSJ)German Economy...
View ArticleFrontrunning: 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...
View ArticleFrontrunning: October 20
Stick to tapering and rates pledge, says Boston Fed chief (FT)Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders (Reuters)Obama makes rare campaign trail appearance, some leave...
View ArticleFrontrunning: May 15
The fake: Avon-Offer Hoax Shows It’s Easy to Put One Over on SEC’s Edgar (BBG)And the real: US buyout group TPG snaps up UK discounter Poundworld (FT)El Niño near-certain to last through summer: U.S....
View ArticleFrontrunning: September 1
Charting the Market: New Month, Same China (BBG)China jitters send stocks tumbling (Reuters)Oil falls on weak China factory data (Reuters)Euro zone factory growth eases in August despite modest price...
View ArticleFrontrunning: November 25
European stocks up, oil slides as concerns ease over Russia-Turkey tension (Reuters)ECB discusses two-tiered bank charges, broader bond buys (Reuters)Skies Darken for Accord on Syria With Turkish...
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"A Spectacular Breach Of Trust" - Former CalPERS CEO Sentenced To Prison For...
Former California Public Employees' Retirement System (CalPERS) CEO Federico Buenrostro was sentenced Tuesday by a federal judge to four and a half years in prison for accepting more than $200,000 in...
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