Subject: Share the View: Fracking Fears and a Hedge Fund Exodus
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Wed, 17 Sep 2014 03:03:36 -0600

Share The View
http://click.email.bloomberg.com/?qs=af7963fc595c2c563e3d561b4592131a2158aca5bd98a72f167568e7ed81f2a5 
Share The View

The Latest Opinions From Bloomberg View

September 17, 2014

http://click.email.bloomberg.com/?qs=af7963fc595c2c563e3d561b4592131a2158aca5bd98a72f167568e7ed81f2a5 
bloombergview.com 

http://click.email.bloomberg.com/?qs=af7963fc595c2c56cb1ea5444e3ebb71bab93026d6001b9843182821c14f7ba9 
Wall Street 

Matt Levine:&#xA0;The news that the California Public Employees&#x2019; Retirement System will stick to indexing is "pretty fascinating. Calpers, of course, is good at indexing. ...&#xA0;The weird thing is that Calpers seemed to apply a not-dissimilar approach to its $4 billion of hedge fund investments; it apparently had &apos;24 hedge funds and six hedge fund-of-funds&apos; in its portfolio."
http://click.email.bloomberg.com/?qs=af7963fc595c2c564a603107c8be001635f762cc54c1cdab4d6867ff0b542acf 
Read more... &#xA0;

Barry Ritholtz:While&#xA0;Calpers eliminating&#xA0;its hedge fund program&#xA0;may shock some people, "it was one of the most-telegraphed actions that the nation&#x2019;s biggest pension fund has made. The seeds for this were planted last year, when Calpers moved the authority over hedge funds from its equity desk to its fixed-income group. Bond investors look at the world very differently from equity investors."&#xA0;
http://click.email.bloomberg.com/?qs=af7963fc595c2c569758a7334a21b856f295e442e87efca75d093b6cda850e41 
Read more... 

Megan McArdle:&#xA0;"If you are a giant public-employee pension fund and you are asking yourself, &apos;Should I invest in hedge funds?&apos; the answer is almost certainly &apos;no.&apos; ...&#xA0;For those who are lazy and disobedient, however, I&#x2019;ll note a few highlights:&#xA0;Hedge funds are not an asset class, they are a legal structure."&#xA0;
http://click.email.bloomberg.com/?qs=af7963fc595c2c56147a7b695f9166d2761b2f993e40fe5c69cb5ef9574e5483 
Read more... 

http://click.email.bloomberg.com/?qs=af7963fc595c2c56f979120195ed5b544da4ff8e652af6ef63ec9c5034de1123 
Environment 

The Editors: "As it turns out, fracking doesn&apos;t necessarily pollute the water supply. But the wells used for fracking might. The distinction matters because drilling companies know how to make wells more reliable, even if all the effects of the fracking process are not yet well understood."&#xA0;
http://click.email.bloomberg.com/?qs=af7963fc595c2c56071b59892f7c800bcac1f0033d97c3b60105735dbbbbc648 
Read more... 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bde6cba80e21eadab6b2a81af899cffda10a374109c58ae18 
Law 

Noah Feldman: "Just what, exactly, is going on with the advocacy group United Against Nuclear Iran? That&apos;s a question U.S. Attorney General Eric Holder doesn&apos;t want answered."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b17abc37cb81a67a3a63aaec89c7a47b77e38ef9d88158b18 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bfdb62de438535f94882fd1ebca3c2dda047ea79cd24f93b0 
Banking 

Ritholtz:"I&apos;ve been paying attention to so many other stories that I almost let the anniversary of the Lehman Brothers&apos; Chapter 11 bankruptcy filing" go&#xA0;by unnoticed. "That would be a shame."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bf2d9abeffe3f9b6eceb07061b3c61fee79525c8b962916fb 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b92c2fa2f5998d6e33cf45e3d3e3883451d5d365368563562 
Cars 

Leonid Bershidsky:"Auto-parts manufacturers have always been in the shadows of carmakers -- it&apos;s never been a glamorous business. The recent realignment in the parts industry, though, shows the biggest players are preparing for a new era in which they can be more important than ever with the advent of the driverless car."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bad1355e76924cf22d7bc25a1863e7d15dfbe74fe7df0a1dc 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b725fcc87d27226b3fb9a9fe4f6e994a1c9a486700b738a45 
WORK 

McArdle: "If one spouse earns a lot less than the other, you need lots and lots of life insurance. If you are in this situation, and you do not have large amounts of life insurance or a multimillion-dollar nest egg for your spouse to live on, then you need to run right out and get some immediately."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1becb31287944c0b00353eeb2b4383ac9206eb64f67d634ba2 
Read more... 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b591ce82102fdd9c4b395fbf0efcaa124e43d9434b7b72d97 
Investing 

Mark Gilbert:&#xA0;"Volatility, which reached record lows in stocks, bonds and foreign exchange markets this year, is starting to edge higher in currencies. The slow return of volatility is good news for those concerned about financial whiplash if yield-chasing investors all rush for the exit at once."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bbb5a77e30d5f60cb099aada1768235b85159099b274efceb 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1bbdd1c97542613fd80892cffe88d63f83dde19b1deca47394 
Economics 

Noah Smith:"Lots of people seem to think that national economies work something like this. Credit, we are told in article after news article, &apos;fuels&apos; or &apos;drives&apos; growth. ... It seems like the only people who don&#x2019;t instinctively believe in credit-fueled growth are academic economists. The academics have good reason for being skeptical."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1ba69614e4002799fe0161e08415625f60f1456a1534c3131a 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b82a5e0c5b323987aa0ec3c058259379727e3bde1b173c87e 
Midterm Elections 

Jonathan Bernstein:"We could be in for the longest of election nights. Any very close election can take days or even months to be decided, and this time we already have four seats with known risks of continuing past your bedtime."&#xA0;
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b05180b6c8af6218c44c38383d333ad0cc206b17264a53846 
Read more... &#xA0;

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b1998764b525e5f30e0710ad3d77e1b4a5c4cc7fc9c2afb61 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b505d18c9a8a7013259bff6a3a4fd5675f7bc6a152382145a 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b5d506a5bd8c78784d92bff0f026b088d7feacfb757bfe2c9 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b6026cbfc4500c1ab9884aa853d8e9715950b5794f3a12560 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1ba6d51e240139d0c998fe9023099740aebb401646c2b08c7b 

For more information, email 
mailto:[email-masked] 
[email-masked] .

For media inquiries, contact Farrell Sklerov at +1-212-843-8289 or 
mailto:[email-masked] 
[email-masked] .

You received this message because you signed up for 
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b51f27d935e8c9bf3be61c8bb3ec3a8062499885ff8716718 
Bloomberg.com  newsletters.

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b7e199aa1fd6c9764141e1c6c0cf199d91611125a5a5b46e1 
Unsubscribe  |

Send to a Friend 

http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b51f27d935e8c9bf3be61c8bb3ec3a8062499885ff8716718 
Bloomberg.com  | 731 Lexington Avenue, New York, NY 10022 | 
http://click.email.bloomberg.com/?qs=7f1b10c8bd75eb1b8486d26d91381131c15a51181f29434ed4482ba568800f0d 
Contact Us