Marketplace Morning Report for Friday Feb. 27, 2015
Airing on Friday, Feb. 27, 2015: The U.S. and Cuba continue talks today. One major issue still standing is Cuba’s place on the U.S. list of state sponsors of terrorism. Banks are watching that issue very closely. We explore. Plus, later this morning the U.S. government will report a revision to its main calculation of economic growth. First time round GDP was reported as running an annual rate of 2.6 percent last quarter. This is a routine revision, including new data that's poured in. In India, the government has just changed the way it goes about calculating its GDP and, lo and behold, things are looking up. And can you imagine betting against the legendary investor Warren Buffett in public? Warren Buffett was trying to make a point about index funds, that this meat-and-potatoes boring investment strategy would beat any fancy hedge fund portfolio in the fullness of time. Well, Ted Seides, President and Chief Investment Officer at Protégé Partners, which invests in small and specialized hedge funds, took that bet. And even though Mr. Buffett is probably chortling with mirth somewhere, Mr. Seides was willing to come in to talk about how things are going 7 years into the 10 year bet.
Airing on Friday, Feb. 27, 2015: The U.S. and Cuba continue talks today. One major issue still standing is Cuba’s place on the U.S. list of state sponsors of terrorism. Banks are watching that issue very closely. We explore. Plus, later this morning the U.S. government will report a revision to its main calculation of economic growth. First time round GDP was reported as running an annual rate of 2.6 percent last quarter. This is a routine revision, including new data that’s poured in. In India, the government has just changed the way it goes about calculating its GDP and, lo and behold, things are looking up. And can you imagine betting against the legendary investor Warren Buffett in public? Warren Buffett was trying to make a point about index funds, that this meat-and-potatoes boring investment strategy would beat any fancy hedge fund portfolio in the fullness of time. Well, Ted Seides, President and Chief Investment Officer at Protégé Partners, which invests in small and specialized hedge funds, took that bet. And even though Mr. Buffett is probably chortling with mirth somewhere, Mr. Seides was willing to come in to talk about how things are going 7 years into the 10 year bet.
