At Braeburn’s inception, the cash pile was modest, yet absolutely massive in unlevered terms, at just over $10 billion. Fast forward 6 years, and the massive cash pile has now grown to be epically gargantuan. Of course, the parent company in question is none other than Apple, whose publicly reported cash horde at June 30, 2012 was a whopping $117,221,000,000. This is the AUM of Braeburn.
Category: Economics
European Solution To Euro Crisis Is ‘Wrong’
“It was tried in 1929, the IMF tried it in Asia and Latin America. Each time it succeeded in turning downturns into recessions, recessions into depressions.”
What If Google Had a Hedge Fund?
Google may not have a hedge fund, but it’s unlikely that high IQ hedge funds aren’t using Google’s data to better manage their own situational awareness and risk.
Learning From Past Crises: Into The Safety Zone
There are limitations to what we can learn from the past, if the world has changed or the Eurozone is special. The Eurozone is special because individual countries cannot count on the central bank acting as lender of last resort to the sovereign. This makes self-fulfilling crises possible, since high spreads (say because of an expectation of Eurozone breakup) make sovereign defaults more likely.
Abnormal Capitalist 