So you haven’t heard of behavioral accounting? Wow you haven’t lived! It does exist and it has generally been defined as accounting for the differential impact of behaviors on the value of an organization. But I have a different perspective on behavioral accounting. As in, how does the behavior of the preparer of an accounting document impact its r...
So behavioral finance is hot these days. Authors such as Nouriel Roubini and Malcolm Gladwell have popularized it with the Great Unwashed. And academics are starting to catch on too, so that's progress. The problem is that for all its intellectual fecundity, behavioral finance suffers from a major problem. That is, that it hasn’t been useful from a...
I guess you noticed that Calpers has just ditched investing in hedge funds. The official line was that it was too complicated. The truth of the matter was that it didn’t work. . That tells us a lot about hedge funds and investing generally and you know I am going to draw my own conclusions from that. First it’s been clear for a long tim...
Many wise words have been penned about women in leadership. Most of them focus on the work-life balance, the glass ceiling and the leadership characteristics of women as distinct from men. But what about women’s profitability performance versus men? Why wouldn’t we be interested in that? Ever heard of a women investment manager? Yeah, I know, there...
I guess you’ve noticed all the comment and analysis about private equity doing worse than the S&P or at least not doing better? Seems that while PE has done much better than the S&P over a 10 year period, over the past 5 years they have been way behind. But alternative investments are supposed to beat the pants off the old ways of doing thi...
So now genetic testing has become de rigueur amongst the jet set, the biological equivalent of Google Glass. As well it might be since Google has invested in this area also (is there anything that Google hasn’t invested in?). What does this mean for everyone else? Well there was a time there when it looked like once you could read the human genome,...
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