Seeking Alpha - June 17 - Professor of Finance Russ Wermers’ study "Mutual Fund Performance: An Empirical Decomposition into Stock-Picking Talent, Style, Transactions, Costs and Expenses" is referenced in 'Hurdles are getting higher for active management' column. Read
Bloomberg Businessweek – June 27 – Professor of the Practice Cliff Rossi on Citigroup betting on mortgage funds: Citigroup may be interpreting the exemptions more liberally than other banks… “I would have expected Citi to take a different path.” Read
Sina - June 19 -- Tyser Teaching Fellow David Kass’ fall 2013 blog post recapping a Warren Buffett meeting with Smith MBA students is republished by this Chinese-language media company. Sina’s post is here. Read Kass' original blog here
Wall Street Journal (via MSN Real Estate) - June 17 - Professor of the Practice Cliff Rossi in a report on whether foreclosure sale rules threaten to shut out willing buyers: "The [short-sale] policy may not be perfect, but I believe we would have more fraud without it.” Read
Maryland Public Television - June 12 – Professor of the Practice Cliff Rossi discusses developments surrounding Fannie Mae and Freddie Mac. Watch (15:00)
Bloomberg Businessweek - June 11 - Professor of the Practice Cliff Rossi on shadow banks: “Anytime you’re increasing access to a low-cost, liquid source of financing, that’s a potentially a good thing, because it can be passed on to borrowers in the form of lower rates… The policy question is whether opening up the door to institutions that may not be regulated like banks might pose some sort of counterparty risk in the future.”Read
US News and World Report - June 4 - Professor of Finance Russ Wermers’ study "False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas," is referenced in an overview of research on stock picking and fund performance. Read
Wall Street Journal – May 23 – Pete Kyle, Charles E. Smith Chair Professor of Finance, on IEX's bid for exchange status as a potential "game changer": "The big deal would be having an exchange owned by the customers. The motives of the exchange would be different than what we have now, and that could have benefits for investors." Read.
American Banker (via National Mortgage News) – May 22 – Professor of the Practice Cliff Rossi on big banks and mortgages: “Each bank has a view of the risk of the loan, the costs and what price they can get, net of all that, versus holding a loan on balance sheet." Read.
MNI News – May 22 – Professor of the Practice Cliff Rossi on the housing sector slowdown: "The folks that are responsible for maintaining the integrity of that fund would be wanting to maintain premiums at a level that would make the fund actuarially sound, not just for now, but also for the very long-term which would mean the premiums need to be where they are at - opposed to lowering them." Read.
Wall Street Journal (via Yahoo Finance) – May 20 – Professor of the Practice Cliff Rossi on a Fannie Mae securities sale: This week's sale is in line with efforts of the new FHFA director, Mel Watt, to "expand access to credit in the mortgage market." Read ... Rossi quoted in related coverage by National Mortgage News.
San Francisco Chronicle – May 19 – David Kass, Tyser Teaching Fellow and professor of finance, on Berkshire’s DirectTV deal: "DirecTV makes them look a lot better in the eyes of Buffett… They are proving themselves over and over again." Read … Republished by the Houston Chronicle, San Antonio Express News, others.
Kiplinger's Personal Finance (via Chicago Tribune) – May 19 – David Kass, Tyser Teaching Fellow in finance on why Warren Buffett won't pay a dividend: "He feels he can earn a higher return for shareholders if he invests the company's retained earnings than if the shareholders did it themselves." Read.
USA Today – May 14 – Pete Kyle, Charles E. Smith Chair Professor of Finance, on the regulation of the futures market: "I think you have to be very careful in evaluating regulatory changes... (Regulators in the Commodity Futures Trading Commission) don't have the staff to do what they're required to do. Read.
May 15, 18 – Pete Kyle, Charles E. Smith Chair Professor of Finance, discusses high frequency trading. Watch (Begins at 16:05).