How To Have Lunch With Warren Buffett

Every year, donors bid millions for the opportunity to share a meal with Warren Buffett at Smith & Wollensky in New York City. The steakhouse's founder Alan Stillman tells the story behind the annual charity lunches. Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You [...]

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The Glory of REITs

Below is an excerpt on retail REITs from a 109 page book on REITS put together by Ivan Ho CFA, CAIA, CMFAS, Hon(BBA) - to get another 51 pages sign up here and to get the full 109 pages and check out the course click on this link. Copyright © [...]

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Is Short Chinese Yuan The New Short Yen?

Chinese Yuan Back in early 2013, we started to notice a prominent trend - hedge funds in both public and private communications started to talk more and more about short yen and less and less about being long Apple. What we noted anecdotally turned out to be around the point when short yen [...]

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Bank CDOs Are Coming Back

What could go wrong? CDOs are coming back. Collateralized debt obligations, the financial instrument that almost led to the downfall of the global financial system in 2007 and 2008, are being revived by a number of hedge funds including StoneCastle Financial and EJF Capital. In reality, CDOs are just a fancy [...]

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Canadian Banks Double Total Auto Loans Since 2008

According to a recent report from BMO Capital Markets, the banking sector in Canada is finally reaching the level of consumer auto loans it saw before the 2008 financial crisis, an area of possible concern going forward. BMO Capital Markets Tom MacKinnon and colleagues offer support for their case by [...]

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As Deep Value Harder To Find, Portfolio Managers Face Difficult Task

A recent report from Nomura Markets Research highlights several structural issues that are challenging portfolio managers in volatile and unpredictable financial markets today. Inigo Fraser-Jenkins and her team of quantitative strategy specialists argue point out that not only do portfolio managers have to deal with compressed multiples in a low [...]

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Banks: A Short History Of Return On Equity, Book Value

Richard X. Bove, vice president of equity research financial sector at Rafferty, highlighted shifts in bank valuation methods. He explained that variables used to evaluate banks have shifted from earnings to tangible book value and most recently to return on equity. Bove also studied the relationship between price to [...]

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Paul Singer Going After Argentina Assets In Nevada

Bloomberg reports that billionaire Paul Singer, the hedge fund founder seeking to collect on more than $1.5 billion in judgments over Argentina’s defaulted bonds, has been granted permission by a Las Vegas judge to receive access to information about Nevada-based assets of Argentine businessman Lazaro Baez. Baez is accused [...]

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Corporate Debt a Potential Threat to Chinese Economy?

Chinese companies now hold $14.2 trillion dollars, more than even their American counterparts. On top of this, Hong Kong based companies own an additional $571 million. This companies with the $13.1 trillion dollars held by American companies. With the Chinese economy slowing down, however, these high debt levels could [...]

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Economic Profits Slump Signaling End of Cycle: Edwards

The most recent edition of Societe Generale's investment newsletter Global Strategy Weekly is titled "Smoke and mirrors stop us seeing a slump in US profits." In the report, Societe Generale lead analyst Albert Edwards highlights that the recent slump in economic profits in the U.S. could be auguring the [...]

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