News & Blogs

U.S. Employment Data Mixed

The 288,000 gain in employment in the U.S. was the biggest since January 2012 and followed a revised 203,000 increase the prior month that was stronger than initially estimated, Labor Department figures showed today. The median forecast in a Bloomberg survey of economists called for a 218,000 advance. Unemployment dropped from 6.7 percent to the lowest level since September 2008 as fewer people entered the labor force. Wages and hours worked were stagnant.  More concerning, participation levels declined dramatically. Once again, we are reminded of statistical biases in Labor Market Statistics in the U.S., as provided by the Department of […]

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Mapping the World’s Prices 2014 – Deutsche Bank Report

One of my favorite research reports is the Deutsche Bank annual survey of global prices relative to the U.S.  . Just like the previous editions, it is a comprehensive overview of prices and price indices of a wide array of goods and services from around the world.  In order to ensure that prices in USD are comparable across countries, they do a great job of using products that are standard across countries or have close substitutes. As in previous years, Australia is overall the most expensive major economy while the United States is still generally one of the cheapest developed […]

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Zero Hedge on the Death of Equity Hedge Funds

Details Created on Saturday, 10 May 2014 15:24 Written by Albert Ottoni Zero Hedge presented a very compelling analysis on Friday showing the weaker recent performances of global hedge-fund managers.  There are some statistical biases in the data, but nevertheless, they are worth noting on an aggregate scale. I like Tyler Durden’s opening to the data presented, “There’s “hedged” funds and then there’s this”… Zero hedge makes a compelling case that Equity Hedge fund managers have simply become a high cost version of their index-tracking ETF brethren… And performance advantages have dwindled… as style tilts (growth vs value for instance) […]

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