Why it's important: Because nearly everywhere except America sees pension funds moving into environmental, social, and governance investing – and every year
this trend continues, America is left further behind.
According to an anonymous source familiar with the Federal
Reserve’s thinking, hedge funds, beset with recent worries, are likely to
escape the key “systemically important” designation that would be accompanied
by rigorous Fed oversight.
On December 2, 2010, aiCIO hosted asset owners and asset
managers from across the globe for our inaugural Industry Innovation Awards.
See who was in attendance – and who won awards – via our photo gallery.
[Disclaimer: I must admit that I am entirely biased with regards to this review. The now-famous Winklevoss twins and I were classmates at university and rowed on the same crew team for four years, which is important because it was during this time that they became entwined with – or invented, depending on who is to be believed –Facebook. I consider them good friends. Thus, I naturally lean towards one side of the argument more than another.]
Scott Patterson's book serves as something of a corrective to the prevailing narrative on Wall Street over the past few decades—that raw cognitive abilities and ever more complex mathematical models will smooth out risk and bring us the Great Moderation.