More pain for stock pickers as Moody’s sees big shift to passive... [more]From Bloomberg.com: Active investment managers are in for more pain as investors stung by underperformance will continue to move assets into low-cost index funds, Moody’s Investors Service said. “The shift toward passive investing is not temporary, and flows could accelerate,” Moody’s said in a repo
Comment - How billionaire Tepper's Move to FL changed NJ's economy... [more]From Investopedia.com: It's not quite on realm of a corporate inversion deal, but the move is expected to have a similar effect, particular in terms of tax benefits. But who's left to fill the void? When billionaire hedge fund manager David Tepper relocated his $18 billion Appaloosa Management hedge
North America - Connecticut-based hedge fund earnings wash ashore... [more]From Journalinquirer.com: The state has the potential to reap an extraordinary tax windfall in the coming years as a loophole closes preventing hedge fund managers from keeping certain earnings in offshore accounts.
While experts say it’s impossible to tell exactly how much of an influx the st
…And Finally - Now you know why everyone has been shorting Valeant... [more]From Newsoftheweird.com: CEO Michael Pearson told a Senate committee in April that he "regret(s)" the business model he instituted in 2015 for Valeant Pharmaceuticals -- the one that, for example, allowed a drug (Cuprimine) that treats liver failure and formerly cost a typical user out-of-pocket abo