The Best Business Longreads for the Week of July 13, 2013
Hedge Funds Are for Suckers
Sheelah Kolhatkar, Bloomberg Business Week
Hedge funds have been feted for their decades-long ability to make obscene amounts of money beating the market. But the real story of the past few years has been the steady decline of the once-vaunted investment vehicles for the rich.
Let’s Consider Kate: Can We Tame the Banks?
John Lanchester – London Review of Books
Mired in scandal and legal issues, yet worth nearly five times the national GDP, the British banking system presents a daunting task for the new governor of the Bank of England, Mark Carney.
Golf in China is Younger Than Tiger Woods, but Growing Up Fast
Brook Larmer – New York Times Magazine
Banned in 1949 by Chairman Mao, golf in China has been playing catch-up for the past few decades. Now, some portions of the Chinese population have set their gaze upon dominating the popular sport.
In District, Affordable-Housing Plan Hasn’t Delivered
Robert Samuels – Washington Post
In a The Wire-esque takedown, Robert Samuels dives deep into the tragic broken promises of the capital city’s prosperity to deliver hope to its lower income population.
Citi’s World of Promise
Sandra Ward – Barron’s
With a new crew at the top -- former Marine Michael O’Neill as chairman of the board and CEO Michael Corbat -- Citigroup has performed incredibly well since a year ago. Should things go according to plan – the bank’s recovery could just be getting started.