Vanguard guy says Dutch pensions are good, but not necessarily something we want to imitate

The excitement over my column on the swellness of the Dutch pension system continues. Here’s the reaction of Steve Utkus, who runs the Vanguard Center for Retirement Research: The Dutch system is interesting but has some limitations from a European perspective. One is that it ties benefits to working in the Netherlands, a small country [...]

An exciting new asset class for America’s pension funds and college endowments to consider

Today’s NRC Handelsblad has an article outlining a recent change in fortunes (for the better) at Rotterdam’s Feyenoord soccer club. One of the reasons is a new program called “Talent Pool” (they failed to come up with a proper Dutch name for it) which allowed outside investors to buy a stake in the transfer rights [...]

New column: Blackstone’s taxing IPO

My latest column is in the issue of the magazine with Rupert Murdoch on the cover and online here. It begins: On June 22, shares in the private-equity firm Blackstone Group began trading publicly on the New York Stock Exchange. By late afternoon, CEO Stephen Schwarzman’s 23% stake in the firm he co-founded was worth [...]