- Hedge funder Paul Tudor Jones continues to double down on his big short of the U.S. stock market. He now owns puts on 8.34 million shares of SPDR S&P 500 (SPY). Meanwhile, as the stock market chugs along, seemingly defying gravity and logic, the billionaire's big bet is forcing him to cut 15% of the workforce at his $11 billion hedge fund.
- If you're already unhappy about not having a pension to fall back on, you will be doubly unhappy about the $6 trillion bill taxpayers are being stuck with because public pension plans made an actuarial snafu. Math is hard.
- A strict focus on each company's return on equity puts the Jensen Quality Growth Fund (JENIX) consistently above the benchmark. Looking for business returns above the cost of capital.
- The plight of the golf business is creating awkward stances and uneven lies in the suburbs. “Nobody's tracking what's happening to the land.”
Investment Insights: The Blogblog
Jeff Benjamin breaks down the game for advisers and clients.
Billionaire Paul Tudor Jones makes a costly big short on the market
Plus: Public pensions will need lots of taxpayer help, this fund keeps beating the S&P, and the dire state of the golf course business
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InvestmentNews editor Frederick P. Gabriel Jr. and reporter Greg Iacurci talk about this week's cover story that looks at whether Fidelity Investments is stepping on the toes of retirement plan advisers.
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