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Martin J. Whitman on Distressed Investing – A Legend and Founder of Third Avenue
Over the past two years, I have become a staunch follower of Martin J. Whitman, a legend in deep value investing and founder of Third Avenue. I have read his book, Distress Investing twice now, and...
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Glencore Considering $19.5 Billion Bid for ENRC…
You thought you had heard the last of Swiss based Glencore, the famed diversified commodities trading firm, with the news of its multi-billion dollar IPO. Now rumors of a nearly $20 billion takeover?...
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Understanding Pension Plans (CFA III) – 1
One of the largest investors in hedge funds, mutual funds, and alternative asset classes, including private equity, timber, and commodities is the pension fund. As an analyst or a portfolio manager,...
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Defined Benefit Plans & Defined Contribution Plans (CFA III) – 2
In our previous blog on pensions, we discussed defined benefit plans, defined contribution plans, cash balance plans, and profit sharing plans. We discussed funded status, ABO, PBO, future liability,...
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Italian 10 year Yield Rises Above 7.4%, Country Theoretically Unable to Fund...
November 9, 2011: After Italian Prime Minister Berlusconi offered to resign yesterday, the credit markets almost sighed in relief. But today, markets were punched in the jugular as LCH.Clearnet...
View ArticleHedge Fund Pershing Square’s 1st Quarter 2012 Letter (Bill Ackman)
Bill Ackman, legendary activist investor recently published its 1st quarter investment letter. The fund has performed strongly to date, with 9.3% returns and has large holdings in Canadian Pacific,...
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Avoid the “contango” of commodity ETFs, as it can lower returns – Market Realist
According to Market Realist’s commodities analyst: Commodity ETFs like USO and UNG often do not track the performance of the underlying indices due to contango, or the market state where the price of...
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Emerging market ETFs are over 50% concentrated in Asian equities – Market...
According to Market Realist’s emerging markets analyst: The MSCI Emerging Markets Index covers the performance of 817 emerging market stocks across 21 emerging markets. The index covers 85% of each...
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Overview of Brazilian Investment Banks – Market Realist
According to Market Realist’s Emerging Market’s Analyst: In a previous article we reviewed the main Brazilian Retail banks to give investors in EWZ some background on MSCI Brazil Index’s 25% exposure...
View ArticleUnderstanding SEC’s Money Market Reform Proposal (Release 33-9408)
A money market fund’s purpose is to provide investors with low risk/low return, easily accessible cash-equivalent assets.The fund holds an objective of maintaining a NAV (net asset value) of $1 per...
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