Be careful where you do your Banking business! Nothing is safe these days!
Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized
31 March 2017
Wealthy prefer Mix of Robo-Advice and Human Contact
All very well, but what kind of mix, and how to offer it?
Wealthy investors prefer mix of human and robo-advice, says survey
Wealthy investors prefer mix of human and robo-advice, says survey
Labels:
Financial Advisers,
Robo-Advice
29 March 2017
Hedge Funds - not perfect, but objective criticism please!
Claiming that Hedge Funds are expensive and offer poor performance is cheap criticism. Long-only Fund Managers are also in the firing line over poor (relative) performance and high fees. Hedge Funds 'suffer' from the fact that a long bull market makes it easy to outperform any 'hedged' fund. The real test has to be over a whole cycle - from peak to peak over one full bear and bull market. And by the way: levered 'Private' Equity Funds escape scrutiny as their performance numbers are not bandied about in the media - not to mention the often excessive compensation that the management of the companies they are invested in enjoys. So-called 'Absolute Return' Funds are now often sold on the premise that they solve the problem - neither too much hedged, but not fully exposed to market cycles - but their performance and fees are also not all that attractive.
http://www.marketwatch.com/story/hedge-fund-buyers-are-getting-soaked-2017-03-29
http://www.marketwatch.com/story/hedge-fund-buyers-are-getting-soaked-2017-03-29
Labels:
Absolute Return,
Fees,
Hedge Funds,
Performance,
Private Equity
24 March 2017
Digital Gold - worse than Paper Gold
The whole reason why you would like to own Gold is to have something to fall back on if Paper Money (or the digits produced by the Central Banks) looses more and more of its value. Paper Gold (Gold ETF for example) and - even worse - Digital Gold can be useful instruments to play the asset class on a short-term basis but will be useless (inaccessible?) when they are really needed in times of crisis.
A New Trend Emerges – Digital Gold "Gifting" Gains Popularity In China
A New Trend Emerges – Digital Gold "Gifting" Gains Popularity In China
Labels:
Gold
Thiam kassierte seit 2010 total 100 Millionen
At least you know what you pay your fees for! Whether you get good performance or not - at least top management will be grateful if you do not shop around for asset management services! Don't wonder how a former Insurance manager is allowed to run a major bank with an ancient history and pedigree!
Thiam kassierte seit 2010 total 100 Millionen
Thiam kassierte seit 2010 total 100 Millionen
Labels:
Fees
23 March 2017
21 March 2017
17 March 2017
S&P 500: World's most popular Momentum Strategy
"Indices are man-made and prone to all the same issues that anything man-made would be. The committee makes decisions about composition all the time. They add stocks at major tops and remove them at major bottoms. Framed this way, the S&P 500 can be described as “the world’s most popular momentum strategy.”
Saving the Mutual Fund Industry
Saving the Mutual Fund Industry
Labels:
Index Funds,
Passive vs Active Investing
16 March 2017
IPO: Canada Goose exploded on its first day of trading
With a broken IPO system the sky is the limit! Would anyone really 'invest' at such valuations if they had to keep the shares for three years?
Canada Goose exploded on its first day of trading (GOOS)
Canada Goose exploded on its first day of trading (GOOS)
Labels:
IPO
Factor Investing: Just another Fad?
No one should be surprised about that statement! While 'Factor Investing' gets a lot of attention recently it is basically old wine in new bottles. And timing is the biggest challenge in all investing decisions!
Cliff Asness: Factor Timing is Hard
Cliff Asness: Factor Timing is Hard
Labels:
Factor Investing,
Timing
15 March 2017
No one has voted for this: Intl Exchange of Tax Information
Quite apart from the fact that there are simpler ways to increase tax revenues the international agreement violates basic rules of a proper democracy. The agreement is negotiated several steps removed from what ordinary citizens care about, or what they want. Anonymous bureaucrats deal over the head of citizens in backroom fashion. A withholding tax would have been simple to introduce and administer and the privacy of savers would have been preserved.
The hypocrisy surrounding this form of legislation is evident when just recently the Italian government announced that the Super rich would be offered tax-haven status in Italy. A billionaire would be able to pay just €100.000 (!!) per year in full settlement of his tax obligations! And an (in)famous Italian, Signore Draghi does his best to confiscate the incomes of hundreds of millions of hard-working and honest citizens in order to bail out his profligate fellow-citizens.
The hypocrisy surrounding this form of legislation is evident when just recently the Italian government announced that the Super rich would be offered tax-haven status in Italy. A billionaire would be able to pay just €100.000 (!!) per year in full settlement of his tax obligations! And an (in)famous Italian, Signore Draghi does his best to confiscate the incomes of hundreds of millions of hard-working and honest citizens in order to bail out his profligate fellow-citizens.
Tax Striptease - Your Freedom is eroded once more
Notwithstanding the fact that Swiss Bank Secrecy saved many a life among those persecuted during the Third Reich the Kleptocrats ruling in our Pseudo Democracies are hell-bent on achieving total control of the lives of their citizens. One day a government will blackmail citizens to hand over all assets held outside its jurisdiction - the 'Land of the Free' is already close to a totalitarian tax dictatorship and others will follow as long as the march to ever-increasing government spending and waste continues unabated.
Ausländer müssen UBS intime Steuerdaten geben
Ausländer müssen UBS intime Steuerdaten geben
Labels:
Democracy,
Privacy,
Switzerland
Bitcoin Hype: is it Digital Gold? Caveat Emptor!
Bitcoins compared to Gold? While Gold may not be the ultimate store of value (problems with fake gold, confiscation, safekeeping) it is still better than some digits in unknown/unsecure computers that can wiped by savy hackers or the friendly government. Remember Tulipmania in the 1600s!
Digital Gold - For Now Caveat Emptor
Digital Gold - For Now Caveat Emptor
12 March 2017
Traders are paying 'extortionate fees' to short Snapchat (SNAP)
Even more amazing that irresponsible Index providers want to herd unsuspecting investors into unproven bubble stocks. It shows that 'passive' investing slavishly hugging indices is no panacea!
Traders are paying 'extortionate fees' to short Snapchat (SNAP)
Traders are paying 'extortionate fees' to short Snapchat (SNAP)
Labels:
Index Funds,
IPO,
Passive vs Active Investing
More Air than Value? Airbnb Raises $1B At $31B Valuation
Remember, the rulebooks that the Regulators publish get longer and longer but none of the rules cover the real important challenges investors face, like buying and selling at the right price
Airbnb Raises $1B At $31B Valuation, Likely Delaying IPO Plans Further
Airbnb Raises $1B At $31B Valuation, Likely Delaying IPO Plans Further
Labels:
IPO,
Regulation
Hedge Funds not as bad as Warren Buffett claims
Comparing an Index (S&P 500) with Funds of Hedge Funds also compares apples and organges, though it is near impossible to invest in a Hedge Fund Index, though that would be the appropriate benchmark
Does Warren Buffett Not Understand Risk-Adjusted Returns? - Bloomberg View
Does Warren Buffett Not Understand Risk-Adjusted Returns? - Bloomberg View
Labels:
Hedge Funds,
Index Funds,
Performance,
Risk,
Volatility
More important than ever that YOU monitor Advisers
Relying on good faith or protection by regulators is not going to do the job in the future!
Trump firing of Bharara leaves void in fight against corruption and Wall Street crime
Trump firing of Bharara leaves void in fight against corruption and Wall Street crime
Labels:
Due Diligence,
Financial Advisers,
Regulation