Monzo founder Tom Blomfield is quitting the digital bank after asking execs for “help” | Sifted
https://sifted.eu/articles/monzo-tom-blomfield-quits/
https://sifted.eu/articles/monzo-tom-blomfield-quits/
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 – https://on.ft.com/2IZdmgC via @FT
Has the investment allocation paradigm radically shifted? https://www.ft.com/content/fdb793a4-712e-477f-9a81-7f67aefda21a
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 …
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’ – https://on.ft.com/39rOiHC via @FT
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 …
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
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”]