Topic
Valuation
279 published works
Pension Risk Matters
The Abracadabra of Valuation – Pension Fiduciaries Beware
Wall Street Journal reporters Susan Pulliam, Randall Smith and Michael Siconolfi fascinate with some interesting statistics about "hard-to-value" assets. In "U.S. Investors Face An Age of Murky Pricing Values of Securities, Tougher to…
Pension Risk Matters
Pension Risk and Hedge Fund Cherry Picking
An October 9, 2007 Wall Street Journal articledescribes new academic research that suggests foul play in hedge fund orchards everywhere. In "Pricing Tactics Of Hedge Funds Under Spotlight: Some Managers Select Favorable…
Wills, Trusts & Estates Prof Blog
9th Circuit Quotes Professor Brant’s Rationale for a Partnership Interest Discount
Brant J. Hellwig (Assistant Professor, University of South Carolina School of Law) article entitled Revisiting Byrum, 23 Va. Tax Rev. 275, 278 (2003), was recently cited by the Ninth Circuit…
Wills, Trusts & Estates Prof Blog
Appraiser Penalties for All? The New and Troubling IRS Code Provision
William S. Forsberg (Attorney at Law at Leonard, Street & Deinard) and Hugh F. Drake (Attorney at Law at Brown, Hay & Stephens, LLP) have recently published an article entitled…
Delaware Corporate & Commercial Litigation Blog
Chancery Rejects Both Parties’ Experts; Reaches Appraisal Valuation Independently
In Highfields Capital, Ltd. v. AXA Financial, Inc., 2007 WL 2410295 (Del. Ch., Aug. 17, 2007), read opinion here, the Chancery Court rejected the expert testimony of the experts of…
Pension Risk Matters
Some Pension Funds Say to Hedge Funds – Hold On There
Wall Street Journal reporter Craig Karmin reports that, post credit crunch, some public pension funds are having second thoughts about hedge fund and private equity investments. Cited as a "significant reversal…
Delaware Business Litigation Report
Court of Chancery Adopts New Approach For Insurance Company Appraisal
Highfields Capital LTD. v. AXA Financial Inc., C.A. No. 804-VCL (August 17, 2007). This decision illustrates the point that in an appraisal proceeding the type of business involved may lead…
Pension Risk Matters
Model Risk – Great Unknown for Pension Plans
In "How Street Rode The Risk Ledge And Fell Over," Wall Street Journal reporter Justin Lahart writes that "many lenders, funds and brokerages were following statistical models that grossly underestimated…
Pension Risk Matters
Two Hedge Funds Report Assets Are Nearly Gone
Wall Street Journal journalists Kate Kelly, Serena Ng and Michael Hudson report that two once-large hedge funds are barely worth the paper that documents their existence. According to a letter to…
Pension Risk Matters
Hedge Fund Returns – Illusion or Fact?
Financial News reporter William Hutchings writes that more than a few hedge funds trading in "illiquid" securities engage in smoothing of returns. Citing research conducted by his firm, RiskData CEO…