Morningstar reported through the Wall Street Journal that PIMCO’s $244BN Total Return Fund (PTRRX) suffered the first outflow on its history last year. $5BN left the fund in 2011 including $1.4BN in December as investors soured on PIMCO’s mis-timed trades in U.S. government bonds. Bill Gross hasn’t achieved what he has by accident, and no […]
That the world’s a risky place has not escaped the recent attention of investors. The potential demise of the European single currency and perhaps with it European banks and the European project itself looms large over every investment decision, and has for many months. Economic slowdown in China, the uncertain consequences of the Arab Spring […]
From my book, with apologies to Sir Winston Churchill whose speech following the Battle of Britain in 1940 inspired this line. Fees have, without doubt been part of the problem for hedge fund investors. The financial press is picking up the story and some of the articles are linked on the book’s website. Meanwhile, sales […]
Last week the Environmental Protection Agency (EPA) issued emission standards tightening the rules surrounding the output of mercury and other harmful pollutants. These standards will have the practical effect of making natural gas relatively more attractive than coal for electricity generation since coal-burning plants require the installation of expensive “scrubbers” to clean the emissions they […]
I’ll be discussing my book.