2023-05-12 Markets
Supportive news on inflation and improving prospects for less restrictive monetary policies pushed the markets higher, despite the increasing tensions about the debt ceiling negotiations in the US.
As structural changes go, the one taking place in office buildings around the world may end up being one of the most notable and lasting side effects of the pandemic (see cover graph).
In the world of investing, few areas are less transparent, more expensive and use more arcane calculations than private equity. The persistence of the enthusiasm for the sector is in part explained by the reluctance of the specialized press (see a recent FT article here) to highlight how, for example, on average anywhere between 15-30% of the gross returns are kept by the managers. (I Google-checked the article: the word ‘costs’ never appears.)
[Cover: forgot the source…]
As structural changes go, the one taking place in office buildings around the world may end up being one of the most notable and lasting side effects of the pandemic (see cover graph).
In the world of investing, few areas are less transparent, more expensive and use more arcane calculations than private equity. The persistence of the enthusiasm for the sector is in part explained by the reluctance of the specialized press (see a recent FT article here) to highlight how, for example, on average anywhere between 15-30% of the gross returns are kept by the managers. (I Google-checked the article: the word ‘costs’ never appears.)
[Cover: forgot the source…]
