Money and Finance
Ray Dalio, head of the world's largest hedge fund, explains his succession plan for Bridgewater and how its 'radically transparent' culture is misunderstood [H/T Linc] (LINK)
Fortune on Ex-Lehman CFO Erin Callan's Stunning New Memoir, Full Circle [H/T @BarbarianCap] (LINK)
Chinese Brokerages Rally on Revived Support for Margin Trading (LINK)
- Links
Oaktree’s Marks Says Europe Better Bet Than ‘Highly Priced’ U.S. (LINK) “We are at a point in the cycle where we feel virtually all assets are trading above their intrinsic value; some are in ‘highly priced’ territory, and there are few absolute...
- Joel Greenblatt Quote (6% Minimum Return)
“I always assume that my minimum bogie is at least a 6 percent return, even if interest rates are near zero, as they are now. Moreover, I have to beat 6 percent by a measurable amount because the assumption is that the 6 percent is risk-free. So I wouldn’t...
- Japan's Topix Hits 28-year Low
A 28-year low seemed worth mentioning. TOKYO, June 4 (Reuters) - Japan's shares fell sharply on Monday, with the broader Topix index hitting a 28-year low, as investors rushed to sell riskier assets on disappointing U.S. jobs data, deepening debt...
- In Punishing Year For Hedge Funds, Biggest One Thrived
Found via ValueWalk. The world’s biggest hedge fund is also one of the best performers. Bridgewater Associates, which manages nearly $120 billion, posted returns of 23 percent in 2011 — a year when the average hedge fund portfolio lost 5 percent....
- Gundlach Steers Clear Of Mortgage Reits
Investors should avoid real estate investment trusts that buy U.S. mortgage-backed securities because they’ll continue to cut dividends as homeowners refinance mortgages at lower rates, said DoubleLine Capital LP’s Jeffrey Gundlach. “I expect further...
Money and Finance
Links
Ray Dalio, head of the world's largest hedge fund, explains his succession plan for Bridgewater and how its 'radically transparent' culture is misunderstood [H/T Linc] (LINK)
Fortune on Ex-Lehman CFO Erin Callan's Stunning New Memoir, Full Circle [H/T @BarbarianCap] (LINK)
Chinese Brokerages Rally on Revived Support for Margin Trading (LINK)
China Securities Finance Corp. said it will restart offering loans to securities firms for periods ranging from 7 days to 182 days. The state-backed agency, which provides funding to brokerages for margin trading, will cut interest rates on the debt to as low as 3 percent, it said in a Friday statement.
The amount of shares purchased on margin has plunged more than 60 percent from last year’s pre-rout peak as traders fled Chinese equities and regulators made it harder for investors to access loans. Speculation last week that officials were relaxing such restrictions helped revive trading volume and sent a gauge of small-cap shares in Shenzhen to its biggest weekly gain on record. The Shanghai Composite Index gained 2.2 percent on Monday, paring its slide from its June peak to 42 percent.
Mark Zuckerberg: Soon, The Majority Of Content We Consume Will Be Video [H/T @BrattleStCap] (LINK)
Everyone's favorite astronaut Scott Kelly will retire from NASA next month (LINK)
Related PBS show to the above: A Year in Space
Follow astronaut Scott Kelly’s record-breaking 12-month mission on the International Space Station, from launch to landing, as NASA charts the effects of long-duration spaceflight by comparing him to his identical twin on Earth, astronaut Mark Kelly.
- Links
Oaktree’s Marks Says Europe Better Bet Than ‘Highly Priced’ U.S. (LINK) “We are at a point in the cycle where we feel virtually all assets are trading above their intrinsic value; some are in ‘highly priced’ territory, and there are few absolute...
- Joel Greenblatt Quote (6% Minimum Return)
“I always assume that my minimum bogie is at least a 6 percent return, even if interest rates are near zero, as they are now. Moreover, I have to beat 6 percent by a measurable amount because the assumption is that the 6 percent is risk-free. So I wouldn’t...
- Japan's Topix Hits 28-year Low
A 28-year low seemed worth mentioning. TOKYO, June 4 (Reuters) - Japan's shares fell sharply on Monday, with the broader Topix index hitting a 28-year low, as investors rushed to sell riskier assets on disappointing U.S. jobs data, deepening debt...
- In Punishing Year For Hedge Funds, Biggest One Thrived
Found via ValueWalk. The world’s biggest hedge fund is also one of the best performers. Bridgewater Associates, which manages nearly $120 billion, posted returns of 23 percent in 2011 — a year when the average hedge fund portfolio lost 5 percent....
- Gundlach Steers Clear Of Mortgage Reits
Investors should avoid real estate investment trusts that buy U.S. mortgage-backed securities because they’ll continue to cut dividends as homeowners refinance mortgages at lower rates, said DoubleLine Capital LP’s Jeffrey Gundlach. “I expect further...