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Showing posts from December, 2010

OPAL Public Funds Summit, 1/12-14/2011

The Public Funds Summit will address the issues that are critical to the investment success of senior public pension fund officers and trustees. Although attendance is not limited to those in the public sector, the conference takes aim at topics that are of particular relevance to public pension funds.We will closely cover the processes for selection and evaluation of investment managers, review legal concerns with fund investment and management policies and explore the benefits and pitfalls of a wide variety of investment strategies.The Summit will take place on January 12-14, 2011 at the Phoenician in Scottsdale, Arizona. The preliminary agenda can be seen at: http://www.opalgroup.net/conferencehtml/current/public_funds_summit/public_funds_summit_agenda.php

Recent economic data releases: what's really going on

Two recent releases economic data releases raise grave questions. We refer to the following:
A. "The Fed cuts US economy growth estimate for 2011 and ups unemployment. The Federal Reserve has cut its 2011 growth forecast for the US economy, newly released minutes of its last policy committee meeting reveal. The Fed expects growth of 3-3.6% next year, down from its previous 3.5-4.2% estimate. It also forecasts higher unemployment and lower inflation than before."
B. "After holding steady for three months, the U.S. unemployment rate rose to 9.8 percent in November, according to the U.S. Bureau of Labor Statistics.The report out Friday was a letdown for the country’s economics, many of whom had predicted much larger job growth figures. The disappointing news was another sign that the nation’s economy remains in a fragile state."
What's really going on.
The Federal Reserve faced a firestorm of criticism after implementing QE2, or Quantitative Easing Number Two. We for…