Ryan's Feed
Jan 4, 2013
via Felix Salmon

Counterparties: Sinking alpha

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This is the state of the hedge fund industry in 2012: The most profitable fund in the world underperformed a simple S&P index fund.

Dec 21, 2012
via Felix Salmon

Counterparties: Grimes and misdemeanors

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When Morgan Stanley won the lead role in Facebook’s IPO in February, its lead technology banker Michael Grimes insisted that he be the “single driver” of the deal. In exchange, he acknowledged that it would be “his throat to choke” if anything went wrong.

Dec 20, 2012
via Felix Salmon

Counterparties: Poor America

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You can call 2012 the year of bank fraud, the year of the 47%, the year of the housing recovery – or you can call it just another year of persistent, widespread American poverty.

Dec 17, 2012
via Felix Salmon

Counterparties: 2013 — The year of meh

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The NYT and the WSJ have officially weighed in on the US economy in 2013, and the sound they’re making is something of a collective meh.

Dec 13, 2012
via Felix Salmon

Counterparties: The Libor scandal expands

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“People are setting to where it suits their book. Libor is what you say it is.”

Dec 10, 2012
via Felix Salmon

Counterparties: Too Global To Fail

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The thing about Too Big to Fail financial firms is that they tend to be Too Big to Fail in several countries at once. Hence, the “shared strategy” laid out in a new joint paper from of the FDIC and the Bank of England that aims to protect taxpayers from paying for the rescue of gigantic multinational corporations.

Nov 26, 2012
via Felix Salmon

Counterparties: Canada’s wonkiest export

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The Bank of England has imported its next governor. Mark Carney, 47, currently the head of Canada’s central bank, will take over from Sir Mervyn King on July 1. the BoE’s release is at pains to point out that “as a Canadian citizen he is a subject of Her Majesty The Queen”; it also mentions that he used to work for Goldman Sachs — just like ECB chief Mario Draghi, Italy’s Mario Monti, and William Dudley of the New York Fed.

Nov 20, 2012
via Felix Salmon

Counterparties: Where synergies go to die

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HP has become the place where synergies go to die. In its earnings release today, HP said it has taken an $8.8 billion writedown, caused by what it calls “serious accounting improprieties” at Autonomy, a software company it acquired for $11 billion in August 2011. This, as David Benoit notes, is HP’s second acquisition-related $8 billion writedown of the year.

Nov 16, 2012
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Counterparties: Our sweet creamy center cannot hold

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Hostess, the maker of Twinkies, Ding Dongs and Wonder Bread, is closing up shop, taking 18,500 employees, 33 plants and approximately 750 billion calories worth of annual Twinkie output down with it. (Yes, we did the math.)

Nov 13, 2012
via Felix Salmon

Counterparties: Why Germany’s lightening up on Greece

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In its fifth year of recession, Greece this week approved another round of massive budget cuts that would allow it to receive more aid and stay solvent. Nevertheless, on the eve of yet another general strike, Greece’s aid is caught once again in the complex game that is European politics.

    • About Ryan

      "Ryan McCarthy is a Deputy Editor of Reuters.com and edits Counterparties.com with Felix Salmon. Previously, he was the Business Editor of the Huffington Post."
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