… 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/