Salient to Investors: Halsey Minor sold CNET Networks for $1.8 billion in 2008 and 5 years later has filed for personal bankruptcy thanks to bad bets on real estate, horse farms, start-up investing, and other ventures that took him out of his technology comfort zone. Read the full article at http://www.bloomberg.com/news/2013-05-30/cnet-founder-minor-files-for-bankruptcy-after-selling-art.html
READ MORE... →Salient to Investors: New York City’s retirement system is the only one of the 11 biggest US public-worker pensions that refuses to manage any assets internally. The typical fees for hedge funds and private-equity and real-estate firms is 2 percent of assets plus 20 percent of profits. Last year, three city pension funds
READ MORE... →Salient to Investors: Monaco’s sudden, substantial and remarkably efficient spree has grabbed the attention of the soccer world. Monaco and its tax-free status have attracted big-name players in the past. While the economic downturn is hitting clubs hard, and a new 75% tax rate for top earners is about to
READ MORE... →Salient to Investors: Gold and wine prices that tracked each other in the past decade are now diverging. The Liv-ex Fine Wine 100 Index tripled in the past 10 years and gold advanced fourfold. Ric Deverell at Credit Suisse said gold may drop to $1,100 an ounce in a year and below
READ MORE... →Salient to Investors: Paul Tudor Jones at Tudor Investment apologized for saying that women cannot compete with men as macro traders after having children, that you will never see as many great women investors or traders as men, and women often turn their focus to raising children at a crucial time
READ MORE... →Salient to Investors: Hedge funds continue to be an overpriced, middling asset class. Goldman Sachs found that hedge funds returned an average of 5 percent in 2013 versus a 15 percent gain in the S&P 500, while only 5 percent of the funds beat the S&P and more than 1
READ MORE... →Salient to Investors: The unemployment rate for veterans fell to a 4-yr low of 6.2 percent in April versus 6.9 percent for adult non-veterans. More than a million Americans are projected by the White House to transition out of the military through 2015. The Intl Franchise Assn said veteran-owned franchise
READ MORE... →Salient to Investors: William D. Cohan writes: The CFTC voted May 16 for a watered-down compromise over requiring opaque and hard-to-value swaps and derivatives to be traded on an exchange, allowing dealers – essentially the big Wall Street banks – to continue to set the prices for these financial instruments using their black
READ MORE... →Salient to Investors: Matt Schreiber at WBI Investments says limiting losses is critical to keeping with your investment plan. Morningstar says 40 of the 2,600 non-sector stock mutual funds it tracks have lost money in the 12 months through April 2013. Zheng Sun and Lu Zheng at University of California,
READ MORE... →Salient to Investors: Hedge funds using debt-trading strategies are expanding at a record pace as they profit from risks big banks are no longer taking. Roy Smith at NYU said regulators in the US and Europe want to transfer risk to the shadow-banking system and interferes capabilities of the large banks
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