The News Review:
- Broker paid hefty fees for state investment work
- Ivy League Lessons
- Reid Hoffman: My Rule of Three for Investing
Broker paid hefty fees for state investment work
The Associated Press
(AP) — A Chicago-based financial firm paid a politically connected New Mexico broker to help obtain a $50 million state investment that a whistleblower lawsuit alleges was made as part of a pay-to-play scheme. The money paid to Santa Fe investor and broker Marc Correra was part of more than $11 million in fees he potentially shared in for helping investment firms secure business with the State Investment Council according to records released by the state agency that’s responsible for managing and investing New Mexico’s permanent funds. Those funds were valued at about $11 billion at the end of last year. The fees were disclosed in a report prepared by the investment council staff in response to an ongoing corruption investigation involving a New York state pension fund. The conduct of several executives including auto task force leader Steven Rattner is being examined by state and federal officials as part of New York Attorney General Andrew Cuomo’s investigation into whether top aides to former New York Comptroller Alan Hevesi took bribes from investment firms seeking deals with that pension fund.
Related from Restorehousatonic: Iowa State awaits approval on rec center
Ivy League Lessons
Wall Street Journal
They grew and grew and their strategies became widely popular among professional investors. Yale’s lead money manager David Swensen became a kind of guru for endowment investing and published “Pioneering Portfolio Management” in 2000 to codify his insights. In 2005 he brought out “Unconventional Success” a popular book that tried to explain to individual investors how they could mimic aspects of his approach to managing Yale’s money.
Reid Hoffman: My Rule of Three for Investing
Washington Post
This is a great time to stimulate investment and recognize and encourage tech entrepreneurs ?starting up is cheaper talent is more fluid and people are more inclined to take calculated risks. If we can find more ways to spur investment it will be good for the entrepreneur now and good for society later. As a serial investor I?ve enjoyed backing some good Web 2. 0 companies and it?s helped me develop a shortlist of criteria to cut the wheat from the chaff. After five minutes of a pitch I know if I?m not going to invest and after 30 minutes to an hour I generally know if I will.