Tuesday, 21 October 2014
Last updated 10 hours ago
Aug 15 2011 | 1:15pm ET
Centaurus Advisors' John Arnold lives in Texas, but he's taken a keen interest in California's pension system.
Arnold and his wire, Laura, have given $150,000 to a California group that is pushing for changes to the state employee retirement plans in an effort to limit its obligations.
"Our attention to pension reform is not California-specific," Meredith Simonton, a spokeswoman for the Laura and John Arnold Foundation, told Bloomberg News. "We chose to get involved there because there are people who are engaged and choosing to illuminate the problems and address possible solutions."
The Arnolds' beneficiary, the California Foundation for Fiscal Responsibility, is advocating individual retirement savings accounts for California employees, benefit limits and an increase in the minimum retirement age.
"I'm looking to avoid the fights we’ve seen in Wisconsin and New Jersey," the group's head, Marcia Fritz, told Bloomberg.
The donation to the California group is part of the Arnolds' pledge to give away the bulk of their fortune.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...