Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience. February 26, 2014

Municipal Bonds Salesman Moves from Goldman to Hedge Fund

The head of municipal-bond institutional sales at Goldman Sachs & Co. is joining a new hedge fund manager, seeking to take advantage of opportunities in a market that has been rattled by Detroit's re...
Read by 51% of LPs

October 09, 2013

The Crisis Facing Fixed Income Investors

From OpalesqueTV Simon Lack spent 23 years at JP Morgan, running North American Fixed Income Derivatives and Forward FX trading for much of that time before founding SL Advisors, a Registered Investment Advisor. His latest book, "Bonds Are Not Forever: The Crisis Facing Fixed Income Investors," examines the variety of factors that make U.S. Treasuries a bad long-term investment. According to Lack, a combination of long-term secular trends of the last 30 years has created too much debt to be financed. The public policy response has favored borrowers by keeping interest rates down and thus making bonds “really a return-free asset class”. Inflation is the real threat: Lack believes it is a bad bet that inflation will not go up and shares thought-provoking insights regarding systemic flaws of inflation statistics. Learn more about: • The convergence of three big secular trends of the last 30 years that have created too much debt to be financed. • Why inflation statistics are misleading. • Inefficiencies for retail investors in the municipal bond market: Transaction costs of between 1 and 2%. • The come back of cash: With low interest rates, combination of stocks and cash is beneficial from a risk standpoint. Following 23 years with JPMorgan, Simon Lack founded SL Advisors, LLC, a Registered Investment Advisor, in 2009. Much of Simon Lack's career with JPMorgan was spent in North American Fixed Income Derivatives and Forward FX trading, a business that he ran successfully through several bank mergers ultimately overseeing 50 professionals and $300 million in annual revenues. Simon Lack sat on JPMorgan's investment committee allocating over $1 billion to hedge fund managers and founded the JPMorgan Incubator Funds, two private equity vehicles that take economic stakes in emerging hedge fund managers. Simon Lack's deep experience in financial markets, managing complex trading businesses and overseeing hedge funds provide him with a unique perspective from which to manage investments and advise clients. Simon chairs the Investment Committee of Wardlaw-Hartridge School in Edison, NJ and also chairs the Memorial Endowment Trust Investment Committee of St. Paul's Episcopal Church in Westfield, NJ. Simon is a CFA charterholder, and the author of The Hedge Fund Mirage.
Read by 55% of LPs July 24, 2013

Ex-UBS Muni Derivative Desk Head Ghavami Gets 18 Months

Former UBS AG executive Peter Ghavami was sentenced to 18 months in prison for rigging what should have been competitive bids to handle municipal-bond investment deals....
Read by 37% of LPs June 26, 2013

Elaine C. Greenberg to Leave SEC After More Than 25 Years; Release No. 2013-116; June 21, 2013

Ms. Greenberg will step down at the end of July for the private sector. She has served in dual roles at the SEC for the past three and a half years, leading the Municipal Securities and Public Pensi...
Read by 80% of LPs June 24, 2013

Viewpoints - Julie Kim: Time is right for California to tap private infrastructure financing | California Economy, California Economic Summit

The California Economy needs to be fixed and the people know it. They are standing up and demanding change. We must attract capital, generate jobs and encourage sustainable communities all over Califo...
Read by 57% of LPs