Thursday links: double dipping

13Sep07

Abnormal Returns will be off-line for a couple of days. Look for our next linkfest on Monday.

Tennille Tracy at WSJ.com on research into the source of private equity fees, “Private-equity firms say they are experts at wringing profits out of flagging businesses. It turns out they are almost twice as good at wringing fees out of their investors.”

Daniel Gross at Slate.com on how private equity firms are looking to profit two ways from recent deals that include stalled financing packages.

Unfortunately for private equity firms the “secondary market” for companies is slamming shut. (DealBook)

The market for “private” public equity is getting crowded. (WSJ.com)

The Epicurean Dealmaker on the challenges of building an investment banking franchise from the bottom up.

“(S)ome relaxation of tensions” in the commercial paper market. (Market Beat)

Industry sector correlations have tended to one in the current correction. (Bespoke Investment Group)

Small caps are not the place to be right now. (FT Alphaville)

Not every emerging market is on a sound economic footing. (WSJ.com)

Greg Newton at IndexUniverse.com takes a look at an asset class that is “correlated with nothing at all.”

Not every quant hedge fund bounced back from early losses in August. (FT Alphaville & naked capitalism)

Shareholder activism does not always pay. (Crossing Wall Street)

All About Alpha on the potential difficulties in hiring managers for university endowments.

Another money manager jumps into the distressed debt fray. (WSJ.com & Market Movers)

David Merkel at the Aleph Blog has a handful of observations on residential real estate.

CXO Advisory Group looks at how good (not really) oil is in predicting moves in the stock market.

Brett Steenbarger at TraderFeed has been exploring the relationship between emotion, action and trader discipline.

Jeff Miller at A Dash of Insight reminds us that “Not understanding the limits to expertise is a costly mistake.”

Felix Salmon at Market Movers writes “Monetary policy, at heart, is largely about confidence.”

Shots from lawmakers aside, how is Ben Bernanke doing as Fed chairman. (FT Alphaville)

Paul Kedrosky at Infectious Greed highlights the rising expectations of market participants that a recession is on the horizon.

Has the Fed already cut the Fed funds rate? (Mankiw Blog & Free Exchange)

Are recession fears a replay of 1998? (Real Time Economics)

Jillian Cohan at American.com on how corporate jets are now seen as “smart investments.”

Good news item of the day. The earth may survive the sun’s demise in 5 billion years (or so). (NYTimes.com)

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