Banks and Hedge Funds. A Side By Side Comparison
Monday, 03 October 2016 | 2:23 am
Banks Hedge Funds Capital · Banks have permanent equity capital and long term hybrid capital. · Hedge funds have variable capitals. Equity can be redeemed although there may be lock ups, gates and low redemption frequency to stabilize equity capital. · Lock ups and gates have been controversial. Some investors dislike them while others appreciate
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What Is The BoJ Up To With Its QQE? What Else Can It Do?
Thursday, 22 September 2016 | 7:57 am
On September 21st there were two central bank meetings, the Fed and the Bank of Japan, both closely watched but both garnering very little expectations. The Fed was expected to do nothing and to signal a December rate hike, which it did. The market reaction was positive, not because this was unexpectedly good news but
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Fiction. Ten Seconds Into Our Future. The Journey Home
Thursday, 22 September 2016 | 12:40 am
One day in the future, the world has nearly depleted its resources. Natural resources have been over-mined, agricultural land over-farmed, the seas over-fished and over-farmed. A surge of population growth in the developing world has led to over-population and overcrowding in cities, while some areas face neglect and become under-populated. Parts of the world become
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Inflection: Central Banks at Crossroads
Wednesday, 14 September 2016 | 4:24 am
Inflection: From the rhetoric it is apparent that the Fed wants to raise rates, the question is not if, but when. The ECB’s recent inaction and signals point to a pause and a possible rethink about QE. The BoJ is currently assessing the efficacy of current QE and has already surprised the market by its
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Adding Fiscal Policy To Monetary Policy, QE and ZIRP.
Wednesday, 03 August 2016 | 5:11 am
Monetary policy has likely reached the limits of usefulness, not necessarily the limits of efficacy. The efficacy of monetary policy was questionable in the first place. Multiple QE programs and low interest rates have managed to inflate assets but not to spur the economy as much as was hoped. Monetary policy is but one class
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