This content is from: Corner Office

Vacation Reading, August 23 – September 1, 2014

Summer is nearing its end. Here’s some reading to tide you over until school’s back in session.

I’m off for a few weeks. Here’s some reading for while I’m gone.

- Libya: The Libyan sovereign fund will name World Bank executive Ahmed Ali Attiga as its chair. What should Attiga’s first job be? To finally locate all of LIA’s assets...

- Penny Wise, Pound Poor: This sovereign wealth fund cannot “afford” a $200,000 trading platform, so it executes trades by phone via brokers — thereby losing tens of millions in spreads & fees. The insanity!

- In-Sourcing: The $90 billion North Carolina Retirement Systems is now managing $26 billion internally. The Canadian model ain’t just for Canadians anymore.

- Some Kind Of New Thing: There’s a new Chinese, $8 billion multicompany investment vehicle called “China Minsheng Investment Corporation” being sponsored by an industry group that sits between the government and the private sector. What is it about? Not really sure. But whatever it is, it’s only the second of its kind in China. The first was the China Investment Corp.

- The Law: Goldman Sachs will face off against Libya’s sovereign wealth fund over the $1 billion trade that resulted in a $1 billion loss.

- Governance: Norway’s government asks its SWF to improve its governance before moving into additional risky asset classes.

- Too Good: A former mob boss that spent 10 years in jail says that Wall Street is shady and that he doesn’t trust them.

- Selfie I: A sympathetic critique of sovereign development funds.

- Selfie II: The “gods” of venture capital are not nearly as divine as they would have you believe.

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