The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Kraus: Hedge funds generated no alpha in short positions over the last decade
“In general, across the industry, for long periods of time, last 10 years, there is no alpha in the short positions.”
Kraus: Nearly all ETFs outside US large cap trail their benchmarks
“Virtually all ETFs, with the exception of US large cap, actually earn less than the index. There's friction cost. Security lending doesn't overcome all the friction cost. Can't always buy all the securities.”
Kraus: Goldman Sachs partners received equal compensation across different specialties
“What was really curious to me about Goldman Sachs was, Goldman Sachs allowed people to specialize, and they compensated the different specialties equally. So at the partnership level, I mean, if you became a partner, you could be a corporate finance specialist…”
Kraus: Merrill Lynch free cash plummeted from $90B to $10B in 2008
“I remember the time we had some ninety-odd billion dollars of free cash. I tell you that because that 90 went to below 10 within a short period of time. Just basically from mark to mark, it's not losses.”