Daily Archives: March 28, 2017

BBC’s Bowen saw no human shields in Gaza – but reports them in Mosul

BBC Watch

The BBC has recently produced several reports concerning an incident in Mosul, Iraq, in which a large number of civilians are alleged to have been killed during a strike on ISIS forces.

Battle for Mosul: US investigating deadly air strike‘ BBC News website, March 25th 2017

“The US military has acknowledged that aircraft of the coalition fighting so-called Islamic State (IS) in Iraq hit a location in west Mosul where dozens of civilians were reportedly killed. […]

The US Central Command said the planes acted at the request of Iraqi security forces. It did not name which country’s aircraft carried out the attack.

In its statement, it said “an initial review of strike data” indicated that an air strike on 17 March was carried out in western Mosul “at the location corresponding to allegations of civilian casualties”.

The coalition “takes all allegations of civilian casualties seriously and…

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Sharp ratios of @NZSuperFund since inception @TaxpayerUnion

The Sharp ratio describes how much excess return you are receiving for the extra volatility that you endure for holding a riskier asset. If manager A generates a return of 15% while manager B generates a return of 12%, it would appear that manager A is a better performer. But if manager A took much larger risks than manager B, manager B may be a better risk-adjusted return.

The Sharpe Ratio such as those below of the NZ Superannuation Fund can be used to compare two funds on how much risk a fund had to bear to earn excess return over the risk-free rate.
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Source:New Zealand Superannuation Fund response to Official Information Act request.

Time to wind-up the NZ Superannuation Fund

croaking cassandra

In their print edition last Friday, NBR ran a piece from me suggesting that it was now time to wind-up the New Zealand Superannuation Fund.  For those with NBR subscriptions, it is now available on line.

I didn’t assign my copyright to NBR or anything of the sort, but I won’t reproduce the full column here.  It was, largely, a much shorter version of a post I did here a couple of weeks ago (and in the process of generating it, I proved to myself again that one reason I write long posts is that short posts take much longer).  But this was the final paragraph.

There is a political debate to be had about both NZSF and about the future parameters of New Zealand Superannuation.  But the two simply aren’t very logically connected.   What NZS policy we run in future depends on all manner of things, including the overall state of the…

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