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After huge coverage of his recent investor letter, Hugh Hendry is back writing a fantastically titled Op-Ed piece for the Financial Times. For those who read his investor letter, the topic will be familiar; Hendry discusses the convergence of fund returns and the failure of risk management. [T]here exists, in terms of my parochial world of hedge fund investing, a bigger issue. I fear that my no longer small community has been compromised. Last year was generally very tough . . . Lakshman Achuthan of the Economic Cycle Research Institute was recently on CNBC discussing his recession call. What do you think of this?
Author Disclosure: None Talk to Frank about Lakshman Achuthan . . . In a stunning victory for shareholder rights, Telus Corp (TSE: T) has withdrawn its proposal to consolidate its dual class share structure on a 1:1 ratio. In an embarrassing move, the company is still unwilling to admit to the fundamental flaw of its plan and the CEO is still clinging to the idea of disenfranchising its voting class: Telus Corp. may have been outfoxed by a cunning U.S. hedge fund, but its top executive is not ready to admit . . . Zerohedge has a post that gives some much needed context to the current debate over austerity and its “failure.” What Austerity? By mainstream media accounts, the presidential election in France and parliamentary elections in Greece on May 6 were overwhelming verdicts against “austerity” measures being implemented in Europe. There is only one problem. It is a lie. First off, austerity was never really tried. Not really. In France for example, according to Eurostat, annual expenditures have actually increased from €1.095 . . . For God’s sake, let us sit upon the groundAnd tell sad stories of the death of kings; - King Richard II, Shakespeare’s Richard II
This week I closed my position in GTSI Corp (NASDAQ: GTSI) which was one of my longest holdings and I think the subject of more posts on this site than any other (I was young and had too much focus to talk about much else). It has been quite a . . . |
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