Sort content by

State pension funds tilt towards politically-connected stocks

It is well documented that local bias exists in US state pension fund holdings, but now an article in the Journal of Financial Economics (forthcoming) finds evidence not only of local bias, but bias towards politically-connected stocks.  Not only that, but the article finds that political bias is detrimental to fund performance. “Political bias is […]
Uncategorised posts

Kurtzer on Holy Land of opportunity

The Middle East is in a state of dynamic flux, with positive change manifesting itself in the countries going through an economic and financial revolution as much as a political one. Institutional investors from all parts of the world have a role to play in that revolution, according to former US ambassador to Egypt and […]
Uncategorised posts

Complexity: thinking ahead

Complexity is, well complex. And as trite as that sounds, it’s something investors, even professional investors, don’t understand well enough, according to Tim Hodgson, head of the Thinking Ahead Group at Towers Watson. The Thinking Ahead Group (TAG), as has been reported here before, gets paid to think – a gig is envious of. […]