Buffett: US Fed greatest hedge fund in history (NineMSN)
According to Bloomberg, Buffett told students at Washington’s Georgetown University that the central bank was probably generating US$80 to $90 billion a year in revenue for the US government, and that wasn’t the case a few years back. The US Fed is buying US$85 billion worth of bonds each month, which has seen its balance sheet expand to more than US$3 trillion, with payments to the US Treasury Department growing accordingly. Last year the central bank remitted US$88.4 billion.
Hedge funds enjoy post-crisis popularity with ‘safe’ image (BRecorder)
Hedge funds may be making their clients less money than mainstream financial markets, but with their portfolios increasingly seen as a safer, low-volatility option in a tough investment landscape they have more cash to manage than ever. The industry’s coffers hit a record $2.4 trillion globally in 2013, swollen by money from US and European pension funds seeking help to find returns in the face of low interest rates and unpredictable markets post-financial crisis.
Third time lucky? Multi-billionaire George Soros gets married again, to bride half his age (Independent)
George Soros, the 83-year-old billionaire investor, got married for the third time on Saturday. In a modest New York ceremony, he wed 42-year-old education consultant Tamiko Bolton. His five children were among guests, and the service – presided over by federal judge Kimba Wood – was followed by a reception for more than 500 at the Caramoor Centre for Music and the Arts. Other guests included IMF chief Christine Lagarde, World Bank president Jim Yong Kim, Kofi Annan and New York governor Andrew Cuomo. Bono also attended.
JIM ROGERS: ‘The Wolf Is Now At The Door In India’ (BusinessInsider)
Jim Rogers thinks there is a crisis coming in some emerging economies. In India, where GDP growth is at a 10-year low, Rogers thinks the “wolf is now at the door in India.” On the other hand, he thinks investors need to be prepared to take advantage of the problems in China. Some of these areas include agriculture, pollution, tourism, and China’s railroad system. When Chinese tourism expands “they’re going to change the name of Madison Avenue to China Avenue.,” he said.
Roubini urges Ukraine, EU tie-up (BDLive)
Ukraine should work with the European Union (EU) rather than a Russian-led customs union in order to boost its economy, says Nouriel Roubini, a professor of economics and international business at New York University. Ukraine’s “macroeconomic condition is fragile” because of widening current-account and fiscal deficits and growing needs for external financing, Prof Roubini said on Saturday at the annual Yalta European Strategy Conference on Ukraine’s Black Sea coast. Ukraine plans to sign the EU Association Agreement, which includes a free-trade accord with the 28-member bloc, in November. Russia wants Ukraine to join the customs union it formed with Kazakhstan and Belarus instead.
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