• Worldwide Capital Advisory Partners LLC

New Active ETFs: It's the Manager that Matters

On November 7, 2014, the SEC announced its intention to accept the proposal by Eaton Vance to offer actively managed ETFs without requiring daily information on the holdings of securities. Instead, Eaton Vance will provide the information every quarter, similar to mutual funds. This is in contrast to the SEC’s […]

| |April 16th, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

Recent Developments in the Measurement of Pension Plans: Unfunded Issue Remains

On July 31, 2013, the Bureau of Economic Analysis (BEA) changed the measurement of defined pension benefits from a cash basis to the accrual method of accounting. Defined pension benefits are commitments to pay benefits to employees after they retire and the amount per individual is based on a formula […]

| |April 11th, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

Sounds Like a Box of Cereal but CoCos are Here to Stay

A recent development in the bond market has been the growth of contingent convertible bonds (CoCos). They are issued primarily by banking institutions to satisfy the additional capital requirements imposed by Basel III in the aftermath of the financial crisis. Although U.S. and European banks have increased their capital since […]

| |April 4th, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

Corporate Governance and Banking Crisis: The case of Japan

On January 23, 2014, Mizuho Financial Group announced that its Chairman Mr. Yasuhiro Sato will give up his position as CEO of its subsidiary, Mizuho Bank Ltd, which has been cited by the Financial Services Agency of Japan (FSA) for improper loans to organized crime syndicates. In addition to separating […]

, | |April 3rd, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

CEO’s Point of View: What is Big Data and how can it help ? – Part 2

In our previous blog article “CEO’s Point of View: What is Big Data and how can it help” we introduced the concept of Big Data and its implications for companies. In this blog, we ask questions on its applications by companies. 1. How is big data going to help my […]

, | |April 2nd, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

An Economic Case for a Change in Immigration Policy

A couple of articles in the issue of The Economist of February 8th to 14th) are worthy of special attention.  The first concerns the Congressional Budget Office’s (CBO) estimate that the Affordable Care Act (ACA) will result in a reduction of 2.5 million participants in the U.S. labor force by […]

| |April 1st, 2014|Comments Off
  • Worldwide Capital Advisory Partners LLC

The Volcker Rule: Finally Implemented But Will It Prevent Another Crisis?

On December 10, 2013, five regulatory agencies jointly announced the adoption of final rules that would ban banking entities from a) engaging in proprietary trading of securities and derivatives for their own account and b) owning hedge funds and private equity firms.[1] It is a very lengthy document covering 900 […]

| |April 29th, 2013|Comments Off
  • Worldwide Capital Advisory Partners LLC

FHFA and GSEs conforming loan limits

Home Ownership: A Thing of the Past? The National Association of Realtors and the National Association of Home Builders are lobbying to prevent the Federal Housing Finance Agency (FHFA) from lowering the size of conforming loans guaranteed by the two government-sponsored agencies (GSEs), Fannie Mae and Freddie Mac.* The conforming […]

| |April 28th, 2013|Comments Off
  • Worldwide Capital Advisory Partners LLC

China GDP below 7% – A Real Possibility

China’s announcement on July 19 that it will remove the floor on interest rates charged by banks to borrowers has been viewed as signs of monetary easing by the government. The policy of easing began as early as December 2012 when they reduced the reserve requirements for banks for the […]

| |April 28th, 2013|Comments Off
  • Worldwide Capital Advisory Partners LLC

Caution: Have We Seen this Movie Before?

The WallStreet Journal reported on July 16, 2013 that large publicly-traded home builders are acquiring smaller privately-held real estate firms and increasing their market share. Smaller firms are selling out because they are unable to acquire financing for their growth plans. The big builders have been able to tap the […]

| |April 19th, 2013|Comments Off