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Takeaway: Below are a selection of interesting links to stories that caught our attention (for both good reasons and bad).

From Central Planning Shenanigans To Evaluating Hedge Fund Returns - wall street sign

At Hedgeye, we rarely mince words in assessing Old Wall and it's media. Below are a selection of interesting links to stories that caught our attention (for both good reasons and bad). 

  1.  Ben Bernanke, Brookings Blogs, "Ending "too big to fail": What's the right approach?" An interesting read, if only to get up to date on the latest central planning orthodoxy surrounding "too big to fail."
  2. MarketWatch, "Fed’s Yellen says negative rates would need careful consideration." NIRP! Rep. Brad Sherman (D., California) released a letter from Fed head Janet Yellen in which she writes she cannot "completely rule out the use of negative interest rates in some future very adverse scenario."
  3. Wall Street Journal, "WSJ Survey: Economists Divided Over Next Fed Rate Increase." This one is just silly. "About 31% of economists surveyed by WSJ this month said the Fed will raise rates in June, down from 75% in April." As we Tweeted yesterday, in other words, "Faulty forecasters are uncertain about the whims of unelected bureaucrats."
  4. Reuters, "BOJ will act decisively using its 'ample' tools: Kuroda." BoJ head Haruhiko Kuroda said that the "risks to [Japan's] economy are tilted to the downside" but that the central bank will act "decisively" to achieve the 2% inflation target and reiterated that it has "ample" policy octions available to expand stimulus. Nope. Macro markets disagree. Nikkei was down -1.4% today.
  5. Clifford Scott Asness, BloombergView, "Hedging on the Case Against Hedge Funds." A thought-provoking op-ed on how best to evaluate hedge fund returns from the founder of hedge fund and asset management firm AQR Capital Management. It's as balanced an appraisal as you'll read.