8AM Insights: Feb. 22, 2013

Enjoy:8AM Insights: Feb. 22, 2013

... Choose the right team. Ask yourself: What’s the experience of the people on the team? For example, if you have a concentrated position in equities, does the person responsible — the portfolio manager — have experience dealing with a concentrated position? Has he ever managed a fiduciary account before? What are the assets? If the position is concentrated in real estate, do you have anyone who knows anything about real estate? How Not to Bungle a Trust: A Checklist for Investment Trustees

"Sparse Thoughts of a Gloomy European Economist" with a sense of humor/sarcasm:

Eurostat GDP data are out. The eurozone is in recession, and it is worse than expected (-0.6% in 2012). Austerity is not working, and is recessionary. Wow, who would have said it…

Seriously, so long for the widespread optimism of a few weeks ago. The crisis is not over, we actually are in the middle of it. The way I see it, things will get worse before they get better (if they do get better).

[...]

So, we learned today that austerity does indeed reduce growth, and that it spills to other countries. Two surprises in one day. It will need a hell of an effort to forget all of this before tomorrow! https://fsaraceno.wordpress.com/2013/02/ 14/surprise-spillovers-exist/

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