Shared posts

12 Jan 21:41

Why cities are where they are

by Jason Kottke

It makes sense that villages and towns would develop a short distance away from each other so that people living nearby wouldn’t have to travel far to sell their goods, bank, or go to school. But what about cities? Geography has a lot ot do with where cities are located.

If you enjoy this video but haven’t read Jared Diamond’s Guns, Germs, and Steel yet, you probably should.

Tags: books   cities   geography   Guns Germs and Steel   Jared Diamond   video
14 Jun 08:55

Manulife launches UK asset management business

by Jessica Tasman-Jones

Parliament-UK-London-Bus-Transport-700x450.jpgCanadian firm Manulife Asset Management has officially launched in the UK and is looking to expand its business through individual hires or team buyouts.

The asset manager, which has £226bn in global asset under management and significant scale in Asia and North America, has recruited almost 40 people to its London team over the past 18 months.

Chief executive Kai Sotorp, visiting from Toronto to announce the launch, says he would like to increase this to around 60 staff in a year’s time, either through individual recruitment or team buyouts.

Chris Fellingham is one of its most recent appointments, becoming head of liquid alternative strategies. The earliest hires in the European expansion started in December 2014 with Kathryn Langridge and Philip Ehrmann both appointed to the global emerging markets team, becoming head of equities and senior portfolio manager respectively.

London-based global head of distribution Claude Chene says: “We’re always looking for investment talent in the marketplace, we’re always looking at what types of people are out there.”

Although the asset manager has traditionally been focused in the institutional space, Chene says a unified investment team would service wholesale clients as well.

The firm hired Alan Burnett to be its head of wholesale sales and relationship management in the UK and Ireland in May.

“The buying patterns of some of the bigger IFAs and wealth managers are all starting to look at much more institutional quality offerings. We come with that mentality to the marketplace,” Chene says.

Regulatory pressure was one reason institutional and wholesale investors were becoming increasingly aligned, says Chene. “On another front, the pressure from passive and smart beta is forcing higher quality investment strategies to be offered as competition.”

Manulife Asset Management has already established a Dublin-domiciled fund platform, which has 11 funds registered for sale in the UK and Ireland, and has begun passporting its funds into other European countries.

Speaking about the timing of the launch, with the UK’s EU referendum just over a week away, Sotorp says it would not change the needs of Manulife’s client base in the UK or Europe, adding: “It might shift whether we can do things from a hub in London versus a hub in London with outposts on the mainland.”

The post Manulife launches UK asset management business appeared first on Fund Strategy.

07 Dec 21:32

How much do demographics really matter?

by Matthew C Klein

Expected changes in the number of people of different ages is a hot topic these days.

Over Thanksgiving week, the Wall Street Journal ran a big series on it, as well as a thoughtful column on what these changes might mean for the economy and asset prices. HSBC just came out with an 80-plus page report on the subject. Toby Nangle and Charles Goodhart are among the most high-profile analysts who believe demographic changes will reduce inequality and reverse the secular downtrend in real interest rates.

Acknowledging population shifts is better than not — we’ve previously noted Japan’s post-bubble experience looks quite different when you bother to consider what’s happened to the number of Japanese people since 1990, for example — but it’s possible some of the recent demographics-derived predictions of interest rates and labour bargaining power may be overdone.

Continue reading: How much do demographics really matter?
27 Oct 21:55

Alternative managers: a rough patch

Pressure to grow can lead to awkward relationships
28 Sep 08:23

Risk Parity: Riding an Unpleasant Arc

Risk parity may just be one of many strategies that follow a familiar arc, from promising new idea to crowded trade to crowded unwind. If this is so: where in that arc is it now?
12 Sep 12:31

BlackRock Research PM, Diversified Strategies, Multi-Asset Strategies (MAS) (London, England)

we believe that there are better ways to gain exposure to asset markets than simply buying the market. Clients come to us because (a) they also believe this to be true, and (b) they believe......For Full Jobs Details CLICK:Apply-Now-Button...
28 Aug 14:10

Resist Nostalgia to Improve Your Outlook For the Future

by Eric Ravenscraft

Resist Nostalgia to Improve Your Outlook For the Future

Nostalgia is a tricky feeling. Sometimes, it brings us exciting new Star Wars movies. Other times it brings us yet another damn Transformers film. For your own life, nostalgia for the old days can feel nice, but it can also hold you back from improving your future.

As business blog Inc. explains, getting too nostalgic for the “good old days” can make us neglect our own futures. After all, if you’re convinced your best days are behind you, you’re less likely to invest in what comes next. As long as you’re alive and physically able, you can always look forward to a new job, relationship, or stage in your life. You just have to look for it:

It’s a terrible, self-defeating temptation, Siebold says, to believe that your best days are behind you. Instead: “Self-made millionaires get rich because they’re willing to bet on themselves and project their dreams, goals, and ideas into an unknown future.” The past, he says, is only there for them to learn from.

Of course, nostalgia isn’t inherently evil. Remembering your college days fondly, or reminiscing about an old exciting job is fine. The problem arises when the longing for your past convinces you that your future won’t measure up to those old times. Your attitude can affect your reality. If you want to invest in your future, don’t idolize your past.

The One Mindset Really, Really Rich People Always Avoid | Inc.

Photo by Bruce Fingerhood.

12 Aug 10:26

IMD, PWM, Portfolio Advisory Group, Vice President - Goldman Sachs - London

PWM assists clients with building and preserving their financial wealth by creating and implementing long-term asset allocation within the context of each...
From Goldman Sachs - 07 Aug 2015 08:56:50 GMT - View all London jobs
17 Jul 11:01

Blackstone earnings slide, but payouts still healthy

by Financial News
The world’s largest private equity firm reports slower pace of asset sales
30 Sep 16:30

Why You Should Drive the Agenda During a One-On-One With Your Boss

by Tori Reid

Why You Should Drive the Agenda During a One-On-One With Your Boss

Use one-on-one time with your boss wisely by preparing your own talking points. Take pre-meeting time to prepare a list of things that need discussed, then use it.

Instead of just checking in during a one-on-one meeting, start a dialogue about things that might be making your job more difficult. This initiates a mutual exchange of feedback, which is much more powerful than a one-sided lecture from your boss.

The Fast Track details how to make this part of the one-on-one more productive:

Before each meeting, spend ten minutes thinking about what would be most helpful for you to discuss. Is there a project you want her feedback on? Do you need to communicate that there's some time-sensitivity on that draft that's been sitting in her in-box for two weeks, and that you can't move forward until she signs off on it? Are you struggling with getting something from a partner organization that she might have more pull with? By thinking through what you need from her, you can come prepared to get more out of the meeting time.

It's good to be transparent with your boss so you both can collaborate on how to succeed, and a one-on-one is the best time and place to do it. The Fast Track has some other tips for handling a one-on-one well below.

5 Mistakes to Avoid in Your One-On-Ones With Your Manager | The Fast Track

Photo by FTTUB.

07 May 22:17

SEC: Private Equity Firms and Illegal Fee Collections

An examination of private equity firms the last two years revealed an “enormous grey area” of hidden fees and expense-shifting, costing investors proper monitoring of investments.
13 Mar 00:27

Ovia Fertility Adds Real Science to Your Family Planning

by Alan Henry on Lifehacker After Hours, shared by Whitson Gordon to Lifehacker

Ovia Fertility Adds Real Science to Your Family Planning

Android/iOS: If you're thinking about starting a family, you quickly learn that having a baby—for many people—isn't as simple as just trying really hard. That's where Ovia Fertility comes in. The app tracks your cycles, pairs with your fitness tracker, and brings the science of health tracking to the art of making babies.

Some people are lucky enough to just "get pregnant" when they want to have kids, but others have to plan things out a bit more. Tracking your cycles and mood can be pretty daunting, and it can actually be a lot of frustrating work, but Ovia makes it surprisingly easy. Sign up for a free account, and the app helps you track all of your health data, not just your cycles, but your blood pressure, weight, sleep, sexual activity, even your eating habits to make sure everything is on the up and up and you're living as healthfully as you can. The service has expert advice to help you get pregnant sooner, reports you can share with your doctor, and the ability to share all of this information with your partner, since, after all, it takes two to tango.

The app is free for iOS and Android, and if you have a health or sleep tracker like a Fitbit or Withings monitor or scale, Ovia can pull information from those devices into its dashboard so you have one place to go for all of your fitness data. You can grab the app in the iTunes App Store or over at Google Play, or hit the link below to sign up on the web and learn more.

Ovia Fertility

26 Feb 10:34

P-Solve and River & Mercantile set to merge

Investment consultant and asset manager are merging to create a group servicing client assets estimated at £50 billion
21 Feb 16:01

USS recruits BT's former head of hedge funds for strategy role

£40 billion pension fund hires Kathryn Graham for senior role as it moves to a 'more holistic' approach to investment
19 Feb 13:49

Asset managers eyeing headcount growth in 2014

by beechertuttle

When it comes to hiring, asset management may be the hottest sector in all of financial services in 2014. The only problem is that firms aren’t necessarily looking to add headcount in revenue-generating areas. Like with banks, much of the hiring will occur in the middle and back office.

Nearly 60% of asset management firms plan to add headcount in 2014, according to a new report from PwC. Two years ago, just 25% of firms said they would look to add external staff.

The optimistic plans are born from an improved economy – CEO confidence numbers are way up – but also the need to prepare for and respond to all the regulations that are crashing down on money managers. Staffers with operational risk backgrounds will be highly sought-after, according to the report.

While the clear focus will be on middle-office roles, one would still have to assume that asset managers will need to add at least some revenue-generators. In a previous report, PwC speculates that, in 2020, asset managers will control over $100 trillion, up from the $64 trillion currently under management. That’s a 6% annual growth rate. Surely they’ll need more folks to recruit and manage all that money.

Meanwhile, you can expect plenty of movement between firms in the coming months, even if it doesn’t necessarily result in immediate headcount gains. With bonuses already delivered, headhunters and compensation experts expect some of the senior heavy-hitters to change addresses. Certain asset managers appear willing to buyout deferred bonuses for the right people.

“They want senior staff who can generate new business [but] have cut back on pay elsewhere in the organization in order to fund this,” one consultant told eFinancialCareers.

Most Hated Office Clichés (eFinancialCareers)

Every office job has them. Clichéd, often empty phrases that bosses and colleagues utter that make you want to pull your hair out. Financial services is no different. Here are the worst of the worst, as judged by those in the industry.

Yet Another Apparent Suicide (NY Post)

A 33-year-old J.P. Morgan on Tuesday employee leaped to his death from the roof of the bank’s Asian headquarters in Hong Kong. Sadly, there has been a rash of apparent banker suicides in recent months, including a similar incident that occurred at J.P. Morgan’s London headquarters.

Questions to Ask in a Banking Interview (eFinancialCareers)

The questions you ask in an interview are often just as important as those that you answer. If you want to impress rather than bore, ask these five questions.

Currency Traders Have Problems (Bloomberg)

The recent lull in fixed income trading and the ongoing probe into the alleged manipulation of foreign exchange markets has overshadowed a bigger problem facing FX traders. Machines are expected to handle 76% of all currency transactions within five years.

‘Who the Hell Are You?’ (Business Insider)

Here’s another interesting anecdote from Kevin Roose’s new book on junior bankers. He once tried to crash a black-tie Wall Street fraternity party and got busted. Things escalated quickly and almost got physical.

PNC Eyeing Northern Growth (Bloomberg)

PNC Financial Services is set to make a bigger splash in Canada, and will likely need to hire staff as it grows. The second largest U.S. regional bank has been approved to offer lending, credit and trust management services to Canadian firms as well as U.S. companies operating up north.

January Sell-Off (WSJ)

With share prices climbing, bank executives are cashing out. Insiders at the top six U.S. banks last month sold shares that combined to double the value from stock sold a year ago January. It begs the question: are bank stocks now overvalued?

Buzz Around the Office

You’re Fired, Seriously (NY Post)

Buzzfeed wrote a rather negative article about Donald Trump and his propensity to half-heartedly join political races and then drop out. So the Donald fired his top political consultant who happens to be friends with the Buzzfeed writer.

Quote of the Day: “If you think your boss is stupid, remember: you wouldn’t have a job if he was any smarter.” – John Gotti

25 Jan 09:01

Flagship M&G funds hit by slump

Heavy exposure to out-of-favour sectors hits performance at £7bn Recovery fund and two others
14 Jan 21:14

This Long-Exposure Shot of a Boeing 757 Taking Off Looks Like a Runway in the Sky

This Long-Exposure Shot of a Boeing 757 Taking Off Looks Like a Runway in the Sky

Yo dawg, I herd u liek runways...

Submitted by: Unknown

Tagged: runways , planes , boeing , flights
28 Nov 13:52

Head of Asset Allocation - London

You may hail from a multi-asset portfolio management... value through both strategic and tactical asset allocation. We welcome applications from interesting...
From eFinancialCareers SC - 28 Nov 2013 13:21:55 GMT - View all London jobs
24 Oct 22:31

The Paradox of Wealth

by (William J. Bernstein)
Financial Analysts Journal Sep 2013, Vol. 69, No. 5: 18-25.
A recent FAJ article by Laurence Siegel painted a sunny picture of the world’s economic and environmental future. Although the author agrees with Siegel’s analysis, his optimism does not extend to security returns; both theory and long-run empirical data support the notion that economic growth lowers security returns by reducing impatience for consumption and altering the supply–demand dynamics of capital—the price of living in an increasingly prosperous, safe, healthy, and intellectually gratifying world. Self-test
26 Sep 09:36

Financial innovation waits for no one

by abnormalreturns

We didn’t get a chance to put a linkfest today but one post we did read really stood out. While the debate about crowdfunding continues Om Malik has a great up at GigaOM that puts the rise of new funding platforms like AngelList into perspective. Malik points out that AngelList is yet another financial innovation that will before seem decidedly mainstream. Malik talks about how day traders of the 1990s changed the way we trade. He writes:

Some innovation makes some financial product or technique less costly, and it, in turn, becomes more widely available. People race to try it, hoping to earn higher returns, and that works; for a while, anyway. Inevitably, however, the innovation attracts too many newcomers that those returns collapse, leaving huge losses, but also leaving the innovation behind for the future to benefit from.

Now it is angel investing that is getting the treatment. Malik writes:

Once again, financial innovation has cut costs and driven wider participation in a previously closed and clubby market. We have seen it over and over, from derivatives to mortgage-backed securities, and it is playing out again in angel investing.

That doesn’t mean there is easy money to be made in angel investing, Day trading wasn’t easy money eithers. However with the JOBS Act and changing technology we now have a whole new way in which investors can put money to work. Some, like Felix Salmon, argue that this will end badly for many, which may very well be true. But along the way how we invest will change forever. Financial innovation waits for no one

The post Financial innovation waits for no one appeared first on Abnormal Returns.