Dean Starkman previously covered Wall Street for the Los Angeles Times; he left in 2016. An award-winning journalist and media critic, he is the author of 2014’s “The Watchdog That Didn’t Bark: The Financial Crisis and the Disappearance of Investigative Journalism,” an analysis of business-press failures prior to the 2008 financial crisis. Starkman most recently ran the Columbia Journalism Review’s business section, “The Audit,” and was also an Investigative Fund fellow at the Nation Institute. He has been lead editor of “The Best Business Writing” series. His work has also appeared in the New Republic, the Nation, Mother Jones and Washington Monthly, among other publications. An investigative reporter for more than two decades, Starkman covered white-collar crime and real estate for the Wall Street Journal and helped lead the Providence Journal’s investigative team to a Pulitzer Prize in 1994.
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The venture capital sector is heading back to Earth.
The nation’s largest public pension fund peeled back a layer of secrecy to reveal that it has paid private equity managers $3.4 billion in bonuses since 1990, a hefty figure sure to heighten arguments over whether the controversial sector is worth its high risk and expense.
In a much-anticipated disclosure, the California Public Employees’ Retirement System said it paid $3.4 billion in performance fees to its private equity managers since 1990 while the controversial sector generated $24.2 billion in profits for retirees.
Stock markets have been largely uneventful this year, save for the huge drops in August, and they showed through last week’s terrorist attacks in Paris a remarkable characteristic: resilience.
The nation’s largest public pension fund would have endured lower returns and higher volatility over the years had it not invested in private equity, even with its high fees and added risks, experts testified Monday.
The nation’s largest public pension fund will take a deep look Monday into its private equity investments, against a backdrop of growing criticism over the risky and controversial sector.
NEW YORK — Long off the public radar, digital payment network bitcoin has been gaining momentum this fall, bolstering the views of some advocates that bitcoins will be a mainstream currency worldwide in the not-too-distant future.
Pacific Investment Management Co. urged a state court on Monday to dismiss the wrongful termination claim of its co-founder and former star portfolio manager, Bill Gross, calling the suit “a legally groundless and sad postscript to what had been a storied career.”
Bill Ackman found himself in a familiar position on Friday — up against it.
At the start of the year, Wall Street forecasts called for the stock market to rise a few percentage points — a humble performance by recent years’ standards.