55152924-3ae4-476e-b16e-2f0b2f1a1ee1

Greetings, We begin with the United States where wholesale inventories posted the biggest gain in 10 months. Goldman’s economists raised their Q2 US GDP forecast to 3.2% in response to the higher than expected inventories build. Source: Goldman Sachs This 3.2% GDP growth forecast is inconsistent with the latest Markit PMI report (discussed a couple of

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mer

A few weeks ago, I attended an interesting and informative event on women and investing. One of the sessions was focused on how to increase gender parity within the investment industry. The discussion eventually coalesced around five key drivers of diversity in investments: Pipeline, Parenting, Presence, Pay and Promotion.  

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ForesightHindsight

The Lake Wobegon Effect—where, according to its creator, Garrison Keillor, ‘all the women are strong, all the men are good looking, and all the children are above average’—relates to the tendency to overestimate one’s achievements and capabilities in relation to others. Lake Wobegon seems to be alive and well in the hedge fund industry, where every manager thinks they are above average, despite a wide range of evidence to the contrary

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