Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 24. Mai 2017

Bawag könnte im Herbst an die Börse kommen

Posted by hkarner - 24. Mai 2017

24. Mai 2017, 14:11, derstandard.at

Angeblich sollen schon im Juni Emissionsbanken beauftragt werden – Kein Kommentar von der Bank

Wien/Stuttgart – Die österreichische Bank Bawag P.S.K. bereitet sich Finanzkreisen zufolge auf einen Sprung an die Börse im Herbst vor. Bei der Erstnotiz könnte die viertgrößte österreichische Bank mit bis zu 5 Mrd. Euro bewertet werden, sagten mehrere mit der Sache vertraute Personen am Mittwoch zu Reuters.

Bawag kommentiert nicht

Die Bawag wollte sich dazu nicht äußern. Marktgerüchte kommentiere man nicht, beschied eine Sprecherin. Mehrheitseigentümer Cerberus plane, möglicherweise schon im Juni Banken mit den Vorbereitungen für einen potenziellen Börsengang nach der Sommerpause zu beauftragen, hieß es von namentlich nicht genannten Insidern. Den Rest des Beitrags lesen »

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China’s Big Brother Is Watching You Do Business

Posted by hkarner - 24. Mai 2017

Date: 24-05-2017
Source: The Wall Street Journal

Beijing aims to harness big data to monitor and rate companies; ‘IT-backed authoritarianism’

China is harnessing big data to keep tabs on companies as part of a ‘social-credit’ system to be rolled out in 2020.

SHANGHAI—The all-seeing eyes of the Chinese state are focusing on businesses.

China is already rolling out an IT-enabled rating system to govern the behavior of individuals. Less attention is being paid to its other application: Big Brother is also harnessing big data to create the world’s most extensive system of corporate surveillance and control.

Think of it as the ultimate tool of Chinese state capitalism. Den Rest des Beitrags lesen »

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Understanding Today’s Stagnation

Posted by hkarner - 24. Mai 2017

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How Macron Can Unite Europe

Posted by hkarner - 24. Mai 2017

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The Great Reset: How Should We Then Invest?

Posted by hkarner - 24. Mai 2017

By John Mauldin, May 22, 2017

– John Maynard Keynes

“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.”
– Ray Dalio, founder, Bridgewater Associates, LP

This letter and next week’s will be two of the most important I’ve ever written. They will set out my philosophy about how we have to invest in the coming days and years. They are the result of my years of actually working with clients and money managers and thinking about the economic and particularly the macroeconomic world. Because of some of the developments I will be discussing, I think the future is likely to be extremely challenging for traditional portfolio allocation models. The letters also discuss my thinking on new developments in markets that allow us to more quickly adapt to our ever-shifting environment, even when we don’t know in advance what that environment will be. I hope you find the letters helpful. Den Rest des Beitrags lesen »

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Bundesbank Head Says ECB Needs to Be Ready to Rein In Stimulus

Posted by hkarner - 24. Mai 2017

Date: 23-05-2017
Source: The Wall Street Journal

But Jens Weidmann says easy-money policies are currently appropriate

President of the German Bundesbank, Jens Weidmann

The European Central Bank shouldn’t wait too long before withdrawing its large
monetary stimulus, German central-bank president Jens Weidmann warned on Monday, wading into a debate over how quickly the ECB should signal a policy shift.

Pressure has been building in Northern Europe for a policy change from Frankfurt as the region’s economy picks up. Eurozone inflation recently jumped to 1.9%, within the ECB’s target range, after languishing close to zero for years.

But top ECB officials have yet to signal they are ready to change course and start winding down their €60 billion-a-month bond-purchase program, known as quantitative easing or QE. ECB President Mario Draghi says the topic hasn’t even been discussed by the bank’s 25-member governing council. Den Rest des Beitrags lesen »

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ONLY ROBOTS CAN TALLY WHAT THE LARGEST U.S. PENSION FUND PAYS IN FEES

Posted by hkarner - 24. Mai 2017

Date: 23-05-2017
Source: The Wall Street Journal

The nation’s largest pension plan has 380 people overseeing roughly $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew.

“We can’t track it today,” said Wylie Tollette, the chief operating investment officer of the California Public Employees’ Retirement System, at the 2015 meeting. The disclosure surprised board member JJ Jelincic, who said: “If you can’t track them they are kind of hard to manage.”

“WE CAN’T TRACK IT…”

Only algorithms could find the answer. A software program developed by outside firms determined at the end of 2015 that Calpers had paid $3.4 billion in performance fees over the past quarter-century to the private-equity firms that managed its money. In 2016, that number was $490 million. Den Rest des Beitrags lesen »

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