- 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.