With New Evidence via WikiLeaks, RBS Awaits Subprime Lawsuit
Following the release of diplomatic cables quoting the current RBS Chairman claiming that former directors may have breached their fiduciary duty, a potential lawsuit, and embarrassment.
News
The Social Network/Accidental Billionaires: The Story & Myth of Facebook, Reviewed by Editor-in-Chief Kip McDaniel
[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.]
The Quants, Reviewed by Editor-at-Large Joe Flood
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.
Nomad: From Islam to America, Reviewed by Senior Editor Paula Vasan
Ayaan Hirsi Ali's most recent book, "“Nomad: From Islam to America,” is a challenging, thought-provoking, and personal account of her rejection of Islam and the cooperative response to the religion that she believes is needed from the West.
Cuomo Reaches Deals With Two Funds in Pension Fund Probe
Odyssey Investment Partners LLC and HFV Management LP have reached agreements with New York Attorney General Andrew Cuomo that resolve probes of their involvement with pay-to-play at the state pension fund.
CalPERS Approves New Asset Allocation to Guard Against Risk, Rising Inflation
Following a nearly year-long review, the biggest US public pension has OK'ed a new asset allocation to position the fund for better risk-adjusted performance.
Norway's SWF Accused of Multibillion Dollar Investments Supporting Abuse, Fueling Military Regime
A new report by EarthRights International (ERI) has shown how the Norwegian Government Pension Fund Global has $4.7 billion invested in 15 oil and gas companies from eight countries operating in Myanmar, putting Norway in violation of its own Ethical Guidelines for responsible investment.
Milliman Says Corporate Pensions Suffer Funding Drop in November
In the latest update to the Milliman 100 Pension Funding Index, which consists of 100 of the nation's largest defined benefit pensions, the global consulting and actuarial firm showed these plans experienced a $22 billion decrease in pension funded status for the month of November.
Looking to Avoid Scandal, CalPERS Hears Post-Employment Recommendations
A legal firm hired to scrutinize the CalPERS’ staffing and conflict-of-interest issues has recommended barring employees from leaving for asset management firms with ties to the pension giant.
With Securities Lending in the Public Spotlight, Congress Gets Involved
While lawsuits over allegedly imprudent cash-collateral reinvestment programs continue to work their way through the courts, a Senate subcommittee has reportedly started an investigation into securities lending providers.
The Origins of Innovation
From aiCIO Magazine: Editor-at-Large Joe Flood executes the ultimate tie-in-reviewing a book on the roots of innovation (whose author shares an editor with Flood) two weeks after our Industry Innovation Awards. Kudos, Flood.
Who Is This Man?
Cover Story from aiCIO Magazine: Warren Buffett chooses an heir. Kip McDaniel & Paula Vasan report.
CERN Revolutionizes Risk Management
Strategy + Tactics from aiCIO Magazine: "We call it a capital preservation philosophy," notes Theodore Economou, the
pension head at the European Organization for Nuclear Research (CERN),
echoing Benjamin Graham's mantra that to win, the first thing you have to do is not lose. "Losing money is not okay."
Yes We Do!
From aiCIO Magazine: This is the new era of fund administration—the ‘Yes We Do’ era, not just
for administrators, but for managers, as well as end investors. Bonnie Scott reports.
Ataturk Makes Good
From aiCIO Magazine: It is a curious twist of historical fate: Two bodies established to
enshrine the past of an impoverished nation are the forerunners of a
very wealthy future. Nick Lord reports.