Contrary to popular belief most active managers don’t underperform due to a lack of stock-picking skills.The true cause of underperformance is a toxic combination of asset bloat, closet indexing and over-diversification.
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The U.S budget deficit has widened as the corporate and individual tax receipts and other revenue declines in the face of federal spending reaching new heights.Last year’s fiscal gap for February was $215.2 billion.
CNBC Excerpts: General Motors Chairman and CEO Mary Barra Speaks with CNBC’s Phil LeBeau Today The following is the unofficial transcript of excerpts from a CNBC interview with General Motors Chairman and CEO Mary Barra and CNBC’s Phil LeBeau today,
Bruce Flatt, chief executive officer at Brookfield Asset Management, and Howard Marks, co-founder at Oaktree Capital, discuss the background of Brookfield’s purchase of a majority stake in Oaktree Capital and how the deal could impact the industry.