Tag: asset management
What does Chinese saver shift mean for market?
Bloomberg notes that the high savings rate of the Chinese public has moved into the Chinese insurance sector, which offers higher yields than state-run banks… Giant fund flows of this type inevitably create distortions in asset valuations…
US equity overbought?
DoubleLine CIO Jeff Gundlach points out an interesting price anomaly: 26 P/E of S&P 500 is too far above 15 P/E of MSCI Emerging Markets Index… Investors are paying too much for the perceived safety and liquidity of the largest U.S. companies…
Sears Canada a model?
Sears Canada to Cut Jobs, Stores as It Enters Bankruptcy Protection… A trial run for the inevitable U.S. filing…
Even Bridgewater guessing on recession timing
Bridgewater hedge fund founder Ray Dalio on the next downturn: No major risks “for the next year or two” but then “longer term looks scary”… Ray Dalio and Bridgewater have access to whatever economic information is commercially available on a global basis… The piece shows how difficult it is, even for them, to call the […]
Hamptons homebuyers on a diet
Bloomberg on houses in the Hamptons, Long Island: High end sales lowest in three years… One of many bellwthers of high net worth liquidity and sentiment…
Fund-level borrowing takes off
Bloomberg reporting on the greater use by private equity of lines of credit at the fund level, to improve returns…
Retailers on secular downslope
Interview with hedge fund manager Jason Mudrick… He is shorting retailers and says the Amazon effect is a “paradigm shift” and a “forever trend”…
What myths can teach us about investing
Excellent interview by Barry Ritholtz of historian Yuval Noah Harari on human cooperation based on myths…Relevant to behavioral finance as well as politics…
ALM hit Blackstone fund
Bloomberg account from earlier this year on Blackstone closing GSO Special Situations Fund…An acknowledgement by one of the largest credit funds that asset and liability matching is critical for distressed debt investing…
How too much liquidity is distorting oil prices
The U.S. E&P business is in a classic vicious cycle… Too much capital markets liquidity allows E&P companies to continue drilling… Which in turn keeps a lid of prices… Some companies are losing money on every barrel, and trying to make it up on volume… Bradley Olson of the Wall Street Journal has the story: […]
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