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America’s pensions are paying high management fees for a whole lot of nothing

“Too many pension system managers pay above-average fees to investment managers in exchange for below average investment returns” reports washingtonexaminer.com. When confronted with such evidence, state investment managers typically argue that they do not design their portfolios to beat a single benchmark.These investment returns suggest a huge opportunity cost in lost income that would have helped to shore up retiree savings.In the three years after that shift, the county consistently outperformed neighboring pension systems that were weighed down by hefty investment manager fees. Source: washingtonexaminer.com Share This:

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With trade confusion this week, Wall Street learns once again Trump tends to ‘speak harshly but carry a small stick’

“On the “trade war rhetoric [the] bark is louder than the bite,” Eric Ollom, head of emerging markets corporate debt strategy at Citi Research, said in a note to clients entitled “Trade War or Trade Bore?” on Apr. 5″ writes unknown author for cnbc.com. “We find the latest salvoes in US-China trade … latest twist in a now familiar pattern of the Trump Administration regarding trade: speak harshly but carry a small stick.”. One Wall Street analyst believes Trump’s move is just a ploy to get attention off the sputtering…

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Why it’s meaningless to accept a GDPR privacy policy

“The European Union’s General Protection Privacy Regulation takes effect Friday, and your email inbox has been slowly choking on alerts about the new privacy law” reports cnet.com. That’s because privacy policies don’t really tell you about all the things that can be done with your data.You know, the dozens of privacy policy updates you’ve probably received in the past few weeks.But here’s the thing: When you click “accept” on a privacy policy, even if you’ve read it from start to finish, you’re most likely still in the dark about what…

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WordPress.org Privacy Policy Updates

“The WordPress.org privacy policy has been updated, hurray!” reports wordpress.org. While we weren’t able to remove all the long sentences, we hope you find the revisions make it easier to understand: There hasn’t been any change to the data that WordPress.org collects or how that data is used; the privacy policy just provides more detail now. Source: wordpress.org Share This:

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Turkey’s leadership scrambles to regain investor confidence in its monetary policy

“The central bank on Wednesday convened an extraordinary meeting to hike rates by 300 basis points to 16.5 percent, amid a currency rout and double-digit inflation” writes Natasha Turak for cnbc.com. Turkey may have made a long overdue move to raise interest rates in an attempt to rescue its plummeting national currency, but investors are still in doubt over the independence of its central bank ahead of national elections in June.But asked if this changed his mind on the central bank’s independence, he said, “Not really.”.  Source: cnbc.com Share This:

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Policy Daily Review May 25, 2018

Policy Daily Review for May 25, 2018 Argentina Needs The Best IMF Deal Ever, Or It’s Curtains For Macri In 2019 Bond lords giving Macri a year to fix Argentina’s cash crunch.   Bitcoin (BTC) Slump Continues on US Justice Department Probe Talk Bitcoin (BTC) continues to weaken and is likely to make fresh lows for the year as talk of a US Justice Department probe into illegal   A crypto exchange hired a top lawyer portrayed in a Netflix series about a big bank robbery to help it navigate…

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Erdogan Needs to Leave Turkey’s Central Bank Alone

“For months, President Recep Tayyip Erdogan has pressed the central bank not to raise interest rates to support the lira” writes Andy Mukherjee for bloomberg.com. Turkey’s central bank has since shifted tack: On Wednesday night, it raised one of its benchmark interest rates from 13.5 percent to 16.5 percent.Turkey’s central bank can effectively fight inflation only if the president leaves it alone.The country’s inflation rate stands at 10.9 percent, well above the central bank target of 5 percent.But if Turkey is to arrest an inflationary spiral, the president will need…

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Spotify to Move Back on XXXTentacion Policy After Outcry

“Now, Spotify is telling industry executives that it will eventually restore songs by XXXTentacion to playlists, as Bloomberg reports” writes Rob Arcand for billboard.com. Spotify executives are currently speaking with both the music industry and civil-rights activists to determine the best course of action in the circumstances.After instituting a new policy for handling “hate content” and “hateful conduct” earlier this month, the company removed artists like R. Kelly and XXXTentacion from its editorial and algorithmically-determined playlists, leading to public outcry from the music industry.According to Bloomberg, the policy changes are…

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Bill would let lawmakers hide past offenses and only be punished for “severe or pervasive” harassment, the ACLU said.

“The Senate has had a much harder time overhauling sexual harassment policy than the House, which unanimously passed its bill in early February” writes Jennifer Bendery for huffingtonpost.com. WASHINGTON ― Civil rights groups contend a new Senate bill that is supposed to crack down on sexual harassers in Congress is full of problems and lets lawmakers off the hook too easily. Source: huffingtonpost.com Share This:

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