Keywords: Google, Google Glass
Calculated Risk provides an animated chart above of America’s population distribution by age from 1900 through 2060 (updates every seconds in five-year intervals), based on population data from the Census Bureau (actual data through 2010 and projections through 2060).
Keywords: Population, Population Distribution
Keywords: Jeff Bezos, Media, Online, Print, Washington Post
"Average time spent with digital media per day will surpass TV viewing time for the first time this year, according to eMarketer’s latest estimate of media consumption among US adults.
The average adult will spend over 5 hours per day online, on nonvoice mobile activities or with other digital media this year, eMarketer estimates, compared to 4 hours and 31 minutes watching television. Daily TV time will actually be down slightly this year, while digital media consumption will be up 15.8%.
The most significant growth area is on mobile. Adults will spend an average of 2 hours and 21 minutes per day on nonvoice mobile activities, including mobile internet usage on phones and tablets—longer than they will spend online on desktop and laptop computers, and nearly an hour more than they spent on mobile last year."
Keywords: Media, Online, Internet, Print, Digital, TV
Fang, Lily H., Ivashina, Victoria and Lerner, Josh, The Disintermediation of Financial Markets: Direct Investing in Private Equity (August 2013). NBER Working Paper No. w19299. Available at SSRN: http://ssrn.com/abstract=2308268
"One of the important issues in corporate finance is the rationale for and role of financial intermediaries. In the private equity setting, institutional investors are increasingly eschewing intermediaries in favor of direct investments. To understand the trade-offs in this setting, we compile a proprietary dataset of direct investments from seven large institutional investors. We find that solo investments by institutions outperform co-investments and a wide range of benchmarks for traditional private equity partnership investments. The outperformance is driven by deals where informational problems are not too severe, such as more proximate transactions to the investor and later-stage deals, and by an ability to avoid the deleterious effects on returns often seen in periods with large inflows into the private equity market. The poor performance of co-investments, on the other hand, appears to result from fund managers’ selective offering of large deals to institutions for co-investing."
Keywords: Private Equity, Private Equity Intermediates
Overblown story No. 1: Student loans now exceed credit card loans
Overblown story No. 2: The recovery is being driven by part-time jobs
Overblown story No. 3: The pension crisis
Keywords: Recovery, Job Creation, Pension Obligation, Student Loans
Creative Destroyer 1: E-Cigarettes
Creative destroyer 2: Cancer Immunotherapy
Creative Destroyer 3: LEDs
Creative Destroyer 4: Alternative Capital In The Reinsurance Market
Creative Destroyer 6: Software-Defined Networking
Creative Destroyer 5: Natural Gas Engines
Creative Destroyer 7: 3D Printing
Creative Destroyer 8: Big Data
Keywords: Creative Destruction, Innovation
We believe that some more very powerful destroyers could be imaginable. What about robotics in agricultural base work or companies like Apple and Google going into banking?
Keywords: Tesla, Electric Car
Harris, Robert S., Jenkinson, Tim, Kaplan, Steven N. and Stucke, Rüdiger, Has Persistence Persisted in Private Equity? Evidence from Buyout and Venture Capital Funds (April 1, 2013). Available at SSRN: http://ssrn.com/abstract=2304808
"The conventional wisdom for investors in private equity funds is to invest in partnerships that have performed well in the past, so-called top quartile funds. This conventional wisdom is based on the belief that performance in private equity persists across funds for the same partnership. We present new evidence on the persistence of U.S. private equity (buyout and venture capital) funds using a new research-quality dataset from Burgiss, sourced from over 200 institutional investors. Using detailed cash-flow data for funds, we study the persistence of buyout and venture capital fund performance of the same general partners across different funds. We pay particular attention to persistence pre- and post-2000. Previous research, studying largely pre-2000 data, has found strong persistence for both buyout and venture capital firms.
We confirm the previous findings on persistence in pre-2000 funds. There is significant persistence for buyout funds and, particularly for venture funds.
Post-2000, we find mixed evidence of persistence in buyout funds. When funds are sorted by the quartile of performance of their previous funds, performance of the current fund is statistically indistinguishable regardless of quartile. Returns for partnerships in all previous fund quartiles, including the bottom, exceed those of public markets as measured by the S&P 500. At the same time, however, regression estimates do find that current fund performance is significantly related to previous fund performance.Post-2000, we find that performance in venture capital funds remains as statistically and economically persistent as pre-2000. Partnerships whose previous funds are below the median for their vintage year subsequently tend to be below median and have returns below those of the public markets (S&P 500). Partnerships in the top two quartiles tend to stay above the median and their returns exceed those of the public markets."
Keywords: Private Equity, Venture Capital
Keywords: Media, Newspaper, Print Media, Online Media, Advertising
Read more detailed analysis on the New York Fed homepage:
Keywords: Bonds, Bond Prices, Selloff Bonds
Jeff Bezos, not Amazon, is dropping $250 million in cash to purchase the venerable Washington Post. But it’s not only the paper that Bezos is picking up for his quarter billion. As part of the purchase, the Amazon founder will also become owner of a host of smaller local papers, the Washington Post website, and a printing outfit by the name of Comprint that the Post itself notes “publishes several military publications.”
That’s a slurry. In short, Bezos now owns a minor newspaper empire, crowned with the Washington Post itself.
But just how healthy are the assets that Bezos has purchased? Let’s take a trip through the numbers. Keep in mind that the Washington Post company is only so specific in its breakdown of revenue from its newspaper division. So, our looking glass is slightly dim. read more on Tech Crunch
Keywords: Washington Post, Jeff Bezos, Online Media, Print Media
Keywords: Yield, Stock Market, Bond Market
Have a look at the great charts on the blog "The Short Side of Long":
AAII survey readings came in at 45% bulls and 23% bears. Bullish readings fell by 3% while bearish readings rose by 1%. The AAII bull ratio (4 week average) currently stands at 68%, which indicates very high optimism amongst the retail investment community. According to my own data, this is usually a "sell signal" zone for this indicator. see much more analysis and great charts on "The Short Side of Long"
Keywords: Assets, Stock Market, Commodity Markets, Bond Market, Market Sentiment
Keywords: Smartphones, Samsung, Moto X
Keywords: Government Employment, Federal Administration
The 2007-2009 financial crisis was associated with a huge loss of economic output and financial wealth, psychological consequences and skill atrophy from extended unemployment, an increase in government intervention, and other significant costs. Assuming the financial crisis is to blame for these associated ills, an estimate of its cost is needed to weigh against the cost of policies intended to prevent similar episodes. We conservatively estimate that 40 to 90 percent of one years output ($6 trillion to $14 trillion, the equivalent of $50,000 to $120,000 for every U.S. household) was foregone due to the 2007-2009 recession. We also provide several alternative measures of lost consumption, national trauma, and other negative consequences of the worst recession since the 1930s. This more comprehensive evaluation of factors suggests that what the U.S. gave up as a result of the crisis is likely greater than the value of one years output.
Keywords: Financial Crisis, Great Recession, Output Loss
Keywords: google, Smartphone, Moto X
In May, we began talking bullishly about European stocks and put a position on for select accounts. As Buffett said about his recent European stock buys, the news hadn't gotten better but the prices sure had.
The valuations were absurdly low relative to what investors are paying for the US and Japan. Price to earnings ratios - on both a trailing-12 months basis and cyclically adjusted over ten years - are substantially lower for Euro stocks than for their US counterparts. At the same time, dividend yields in Europe are significantly higher.
In addition, you'd have to leave earth to find a more hated asset class. Everyone's underweight Europe - they think it's the "conservative" thing to do while they chase the Russell 2000 at 20 times earnings. Meanwhile it's the largest economy on earth - 760 million people in 48 countries producing $16 trillion in GDP. read more on The Reformed Broker
Keywords: Europe, European Economy
Job Curtis, co-portfolio manager of the Henderson Global Equity Income Fund, provides his views on the improving economic background and describes the Fund's positioning both geographically and by sector.
Good illustrations and reflections on private equity in the latest IESE Alumni Magazine. There could in dead be a private equity revival ahead.
Keywords: Private Equity, Buy Outs, LBO
Econ Analysis: Selected contributions to economics: articles, papers, podcasts, blogs (constantly updated)__________________________________________________________________________________________________
Recommended search terms (click on terms):
Analysts, Analyst Recommendation, Animal Spirits, Austerity, Bail out, Behavioral Finance, Bubble, Buyout, Carried Interest Taxation, Central Banks, CEO, Compensation, Contagion, Corporate Governance, Creative Destruction, Crisis, Currency War, Decoupling, Deflation, Depression, Economic Outlook, Economic Stimulus, Entrepreneur, Exchange Rates, Fiscal Policy, Forecast, Hedge Fund, Herding, Inflation, Information Cascades, LBO, Innovation Minsky Cycle, Monetary Policy, Moral Hazard, Mortgage, Nationalization, Protectionism, Recession, Regulation, Shareholder Activism, Sovereign Wealth Funds, Subprime, Taxes, Tobin Tax, Venture Capital, Walker Report, Yield Curve,
Finance and Real Estate:
Biofuel, Carbon, Cleantech, Climate Change, CO2, Energy, Food Crisis, Food Prices, Externalities, Gold, Kuznets Curve, Solar, Oil, ______________________________________________________________________________________________________
Natural Resources and Food:
Latest articles of selected institutions:
Imported information which does not show the source will be removed.
_______________________________________________________________________________________ ________________________________________________________________________________________ __________________________________________________________________________________
|<< <||> >>|