Bloomberg: The Poison in Your Pension
It may sound a bit strange, but I was maintaining a blog on my prior employer’s intranet. If you knew the place, you might agree it actually makes sense. A massive asset management firm struggling to maintain effective communication between analysts and portfolio managers. Email and hard copies of research were becoming ineffective (in my opinion). I thought blogs presented a fantastic and effective solution to the communication challenges. Some people were excited, but others were soundly against the idea. These were the same dinosaurs who were against introducing email, so I didn’t take the detractors too seriously.
Anyway, now I am gone and all that is history. However, before leaving, one of my last posts on the intranet blog pointed to this Bloomberg article. I think it is good enough that I will point to it again here:
I don’t think my disdain for CDOs has been a secret, e.g. see
We are just now starting to see stories crop up about about pensions funds suffering losses so a second look at the Bloomberg article seems maybe appropriate.