Christopher Addy

I lead a team of more than 100 dedicated professionals at Castle Hall Diligence. Our goal is to help our clients deliver better investment outcomes.

[Christopher Addy @cjaddy]

So @RBC called yesterday and left a message to confirm a transaction on my credit card. So far so good - very happy to protect against fraud. Trying to call them back - this is attempt number three with so far up to 35 minutes on hold. This is a bank which made $16billion last year - just mind boggling at how bad the service is.

[Christopher Addy @cjaddy]

Pushing back - so 1:10min delay. In the scheme of things a minor delay (and good communication from the flight deck) But how can IT go down so easily?

[Christopher Addy @cjaddy]

Hmm…..@British_Airways IT systems down. Cannot push back as the pilots cannot generate a load sheet…even the internal phone system apparently not working. Stuck at the gate.

[Christopher Addy @cjaddy]

Systems coming back on line….expect to be able to push back shortly.

[Christopher Addy @cjaddy]

Flight deck update - pilot (who is very informative) says this is a global outage but apparently “systems coming back online slowly”. We have a preliminary manual load sheet and have been asked to wait for 15-20 minutes for those of us with hand luggage ready to give up and deplane…..

[Christopher Addy @cjaddy]

This is clearly a system wide outage - could it be a #cyberattacks ?

[Christopher Addy @cjaddy]

Flight deck update “no progress. Our ground staff think there might be a working computer on the other side of terminal 3 or will try to drive to terminal 5.” But I assume that terminal 5 is down as well?

[Christopher Addy @cjaddy]

We’re at Heathrow trying to leave terminal 3 for Prague

[Christopher Addy @cjaddy]

https://t.co/TQOigdK9kP

Basis trades....

[Christopher Addy @cjaddy]

A fascinating illustration of how traders simply don't think like investors.

Investors want reinvestment of incentive fees (a hefty 20% commission) so that if the fund subsequently craters, the traders will lose their own money.

https://t.co/PfMgsUaMPt

[Christopher Addy @cjaddy]

This has to be one of the most unconvincing "defences" of PE I have ever read. The "American Investment Council" is, of course, one of the groups taking the @SECGov to court over the private funds rule.

https://t.co/soUMhCF8sY

#odd #PrivateEquity #ethics

[Christopher Addy @cjaddy]

So the root cause of Crispin Odey's problems is his support of Brexit....nothing else.

#hedgefunds @Bloomberg #ethics

https://t.co/I1e7wkHgqh

[Christopher Addy @cjaddy]

Lies, damn lies, and valuations?

https://t.co/khXfTyOpm7

[Christopher Addy @cjaddy]

Very interesting.

https://t.co/NDrQ8CKutf

[Christopher Addy @cjaddy]

The UK @TheFCA, per the @FT, is launching a sweep around private equity valuation procedures.

"Assets are usually valued on a quarterly basis, meaning a sharp market correction may not feed through to the valuations for weeks, if not months."

https://t.co/vgf8nyRDCj

[Christopher Addy @cjaddy]

Should public pension plans invest in sports franchises?

@CalPERS #odd #duediligence

https://t.co/aR6MRpeAqF

[Christopher Addy @cjaddy]

PwC Australia starts the long road back from an appalling corruption scandal….(I’m a PW alumni back in the day…)

@PwC #ethics #odd #duediligence

https://t.co/EoJIxXv8b7

[Christopher Addy @cjaddy]

EY to repay @bancosantander GBP15 million due to failings in their anti financial crime work.

AML specialists such as @ExigerLLC bring great expertise - unclear why the Big 4 is in this space.

https://t.co/bFwwlE25Cx

[Christopher Addy @cjaddy]

Low interest rates can lead people to rationalize all sorts of bad ideas....

https://t.co/ASV2kzFVEW

@Bloomberg #PrivateEquity #odd #duediligence

[Christopher Addy @cjaddy]

Private equity Zombies.....Top 10 US pensions hold nearly $7bn in funds more than 15 years old.

https://t.co/moLWu77g9o

#PrivateEquity #odd #