Despite Campaign Promises, Republican Tax Legislation Avoids Closing a Major Loophole
President Trump promised that he would end the carried interest loophole, but the most recent Republican tax reform bill leaves it intact.
Hedge Funds
The Dangerous Mathematical Con of Hedge Funds and Financial Advisers
Using too many trials to design investment algorithms renders them statistically useless and potentially devastating.
Banks Don’t Do Much Banking Anymore—and That’s a Serious Problem
As hedge funds, private equity firms, and other asset managers that make up the shadow banking system gradually take over the role of lending, their risks—and the borrowed money they use to make them—are largely shielded from view.