FA Notes Monday October 24, 2011
Eurozone Flash Manufacturing PMI 47.3 vs. 48.1 est. 48.5 prior
Eurozone Flash Services PMI 47.2 vs. 48.6 est. 48.8 prior
HSBC Flash Manufacturing PMI 51.1 vs. 49.9 prior Link
German October manufacturing PMI 48.9 vs. 50.0 est. 50.3 prior Link
German October services 52.1 vs. 49.7 est. 49.7 prior
France October Manufacturing PMI 49 vs 48 est. Services 46 vs. 50.5 est. Composite 46.8 vs. 50.2 est. Link
France Composite PMI vs. France GDP Chart
Source: Markit
"If they are having a bad year in that returns are down but can explain it in a way that convinces us they haven’t lost their discipline, then we might give them a pass," said Sam Katzman, the chief investment officer of Constellation Wealth Advisors, which invests in hedge funds and has $4.5 billion under management. Constellation is likely to redeem from some managers who have underperformed this year, he said. "In times like these, investors will give you a chance if they understand your thought process and strategy," Ms. Tapia said. Link
60 Minutes video segment on Steve Jobs. Link
PBS video interview with Michael Lewis. Link
Charlie Rose interviews Ray Dalio, PM of largest hedge-fund in the world. Link