UPDATE #HedgePapers No. 26 – Puerto Rico: Pain and Profit

21 Mar 2017

UPDATE: After years of crisis and austerity that have resulted in a poverty rate of 45 percent, it’s hard to imagine that conditions could get much worse for the people of Puerto Rico. But if the island’s bondholders have their way, that’s exactly what’s going to happen. Puerto Rico is facing a new round of draconian budget cuts that promise to intensify the hardships that the population is already facing.... Read More

Partner Paper No. 2: All That Glitters Is Not Gold — An Examination of US Public Pension Investments in Hedge Funds

9 Nov 2015

A new report by our colleagues at the American Federation of Teachers and the Roosevelt Institute has found that public pension investments in hedge funds aren’t paying off. The eleven pension systems studied received absolutely no benefit from their investments in hedge funds, with high fees eating up all of the returns and stated investment strategies failing to pan out.... Read More

#HedgePapers No. 20 – New York City’s Public Pension Vultures In Puerto Rico

21 Sep 2015

Hedge Funds Preying on Puerto Rico Manage Over $550 Million in NYCERS Funds Puerto Rico’s 3.5 million residents face frightening austerity measures in an economic crisis that is unfolding rapidly. Hedge funds have been buying up a large portion of the island’s debt, sometimes for pennies on the dollar. These hedge funds are betting on big profits if Puerto Rico is not permitted to declare bankruptcy or refinance its $72 billion debt and is forced to repay all creditors in full.... Read More

Mansion Paper #1: Paul Tudor Jones

9 Apr 2015

Paul Tudor Jones, self-described income inequality crusader, purchases $71.2 million mansion Hedge fund billionaire Paul Tudor Jones, who waxed apologetic about income inequality at his recent TED Talk, has just snapped up another waterfront mansion, this time on Palm Beach Florida’s “Billionaires’ Row.” It’s an important investment for Tudor Jones, who only owns two other waterfront mansions.... Read More

#HedgePapers No.6: Daniel Loeb

19 Mar 2015

Daniel Loeb: BAD BEHAVIOR, BAD POLITICS, BAD KARMA A yoga devotee is calm, spiritual and concerned about the welfare of others—unless the yoga devotee in question is Dan Loeb, who is known for publicly excoriating executives and relentlessly pursuing the accumulation of more wealth than most people could spend in a hundred lifetimes.... Read More

#HedgePapers No.3: Hedge Funds and the Destruction of the Upstate Economy

2 Mar 2015

Alternative asset managers and the damage they inflict on New York communities: It’s a real life Hunger Games. The financial elite cloister themselves away in gleaming taxpayer-subsidized towers, sitting on riches they earned by devastating economies in upstate New York and beyond. They earn special treatment from Governor Andrew Cuomo and his buddies in the State Senate by splashing their ill-gotten gains into political races.... Read More