Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Jeff Hooke, the author of "The Myth of Private Equity: An Inside Look at Wall Street's Transformative Investments," is a senior finance lecturer at the Johns Hopkins Carey Business School and a former investment banker and private investment executive. Seven hundred and forty-four million dollars. That is the amount of Wall Street fees paid by the Maryland state pension plan for investment advice in fiscal 2021.
Ken Yook and Jeff Hooke The Journal of Investing ESG Special Issue 2020, joi.2019.1.110; DOI: https://doi.org/10.3905/joi.2019.1.110 Abstract A growing number of institutions now consider fossil free investing, a portfolio strategy that seeks to minimize exposure to companies that are sources of current and future carbon emissions, such as coal, oil, and natural gas companies.
The recent U.S. Supreme Court decision to allow sports betting in all 50 states met with excitement in the affected industries. Gambling companies' share prices rose in anticipation of those firms being the logical purveyors of sports betting. Media firms that broadcast sporting events also experienced share price gains, under the assumption that TV and streaming ratings will go up. And many observers suggested that legalization will bolster sports franchise values.
The Maryland Pension Fund spent over a half billion dollars on Wall Street fees in fiscal 2015, according to this analysis by the Maryland Public Policy Institute. Those fees canceled out the revenue that the state collected from the lottery and casino industry in taxes.[1] In 2015, for every $1 in investment income (net of fees) in 2015, the Fund spent 50 cents on fees. Over the last five years, the fee-to-return ratio is better, but still not good.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
