Monzo founder Tom Blomfield is quitting the digital bank after asking execs for “help” | Sifted
https://sifted.eu/articles/monzo-tom-blomfield-quits/
Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says
Another nail in the trickle down coffin Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says [“https://www.bloomberg.com/news/articles/2020-12-16/fifty-years-of-tax-cuts-for-rich-didn-t-trickle-down-study-says”]
Robinhood faces legal action over ‘gamification’ of investing
Robinhood faces legal action over ‘gamification’ of investing – https://on.ft.com/2IZdmgC via @FT
Investors wonder if the 60/40 portfolio has a future | Financial Times
Has the investment allocation paradigm radically shifted? https://www.ft.com/content/fdb793a4-712e-477f-9a81-7f67aefda21a
EY chairman admits ‘regret’ over Wirecard failures in letter to clients
Is lax oversight a feature or a bug in the global audit industry? It seems every time a major fraud is uncovered the leadership breaks out the standard playbook: 1) We were fooled as well, 2) It’s not our job to uncover fraud and 3) we promise to do better. Though massive fraud garners the …
Don’t Be Surprised if Target-Date Funds Miss the Mark | Sound Mind Investing
Sensible discussion of target date funds. Article discusses variations across different funds in terms of allocation and glidepath (ie how the portfolio changes as it approaches the target date). https://soundmindinvesting.com/articles/view/dont-be-surprised-if-target-date-funds-miss-the-mark
Jim Chanos: ‘We are in the golden age of fraud’
Jim Chanos: ‘We are in the golden age of fraud’ – https://on.ft.com/39rOiHC via @FT
On eve of bankruptcy, U.S. firms shower execs with bonuses | Article [AMP] | Reuters
Bonus before bankruptcy or BBB. Where is the governance? Hopefully some of the bonuses will be subject to clawback. The beauty of the “heads I win, tails you lose” C-Suite. When company does well bonus is well deserved, when company does poorly they need to retain management to execute “visionary” turnaround. And when board is …
Wirecard fights for survival as it admits scale of fraud
Once again failed by auditors and rating agencies (investment grade until last week). Wirecard fights for survival as it admits scale of fraud – https://on.ft.com/311vflw via @FT
Private Equity Lands Billion-Dollar Backdoor Hospital Bailout
Ridiculous how PE pumps debt into a company and only uses dry powder for new companies rather than supporting the companies they layered in debt. Private Equity Lands Billion-Dollar Backdoor Hospital Bailout [“https://www.bloomberg.com/news/features/2020-06-02/private-equity-lands-billion-dollar-backdoor-hospital-bailout”]