Just last weekend, Pearl Jam kicked off a two-night run at the famed Madison Square Garden in New York, NY along their 25th anniversary tour. The band took the Big Apple opportunity to welcome a very special guest to the stage, as they welcomed famed singer Sting to the stage for a cover of Police classic “Driven To Tears.”In honor of the great collaboration, Pearl Jam has treated fans to pro-shot footage of the cover performance. Watch Sting accompany Pearl Jam for “Driven To Tears,” below:Pearl Jam has been on fire during their current tour, continuing to bring out tour debuts on a nightly basis. They resume performing this Sunday, May 8th, at the CTC Arena in Ottawa.
Alfred Slager, professor of pension fund management at TiasNimbas Business School at Tilburg University in the Netherlands, has set out an eight-point checklist for institutional investors considering a factor-based approach to portfolio management or investments in smart beta.Factor investing takes into account risks that stretch across different asset classes – from economic growth and political uncertainty to credit, duration, size, value, volatility and illiquidity – to achieve more robust portfolio diversification and to refine exposure to factors with desirable risk/return characteristics.Slager – presenting the findings of a study into European pension funds’ awareness of and approaches to factor investing at a 31 January seminar organised for clients by Robeco in Rotterdam – laid out the advantages in terms of better diversification, improved benchmarking of active managers and more cost-effective exploitation of systematic market risks, but emphasised the governance challenges that face investors trying to adopt these new methods.“There is a lot of interest in these processes but also a lot of uncertainty about how to embed them into the portfolio,” he told the delegates, which included many leading Dutch and Belgian pension funds. “If factor investing is so compelling, how come every pension fund isn’t doing it? What are the barriers and challenges?” Slager reported three basic ways in which investors were implementing some of the ideas behind factor investing.The first approach involves leaving the portfolio as it is, with the fund using the additional insights about exposures and diversification.The second identifies existing factors tilts and corrects them to some extent to introduce a more desirable mix of factors.The third approach aims to create a portfolio that is unconstrained and fully factor-optimised.“Today, pensions funds that have taken any steps at all have usually taken steps one and two, and dream about step three,” he said.But Slager’s survey of the latest pension fund annual reports revealed almost no mention of factors or factor investing, suggesting that even many of those investors pursuing these ideas do so without fully considering the theoretical framework, or struggle to communicate that framework to trustees and members.“Trustees have pointed out to me that the level of abstraction we are dealing with is one hurdle,” explained Slager. “It is difficult enough trying to describe what equities and bonds do in their portfolio; if we move up a level and begin to describe term risk, volatility risk and so on, that is a considerable challenge under a governance structure that requires much greater transparency and communication that it has in the past.”This is important, Slager added, because investors need to establish their beliefs about whether individual factor risks are rewarded over time, how long it can take for those risks to be rewarded, how well the resulting risk/return characteristics fit with their own particular objectives and constraints, and how best to benchmark performance.Many of these points are still the subject of academic debate, and can be significantly affected by real-world investing constraints such as transaction costs or restrictions on short selling.“The fact many of these factors appear to have statistical persistence over time is all very well, but, to communicate properly with clients, we also have to know what realistic expectations we can have about these factors, how reliable they are and, most importantly, whether we have a persuasive economic story that makes sense for them,” Slager said.Even once these investment beliefs are agreed and communicated to members, factor investing introduces a range of potentially complex active investment decisions, and investors need to consider where in their governance structure those decisions should be taken and monitored.“We therefore tried to condense our findings from discussing these issues with pension funds into a checklist that would be helpful once an investor has decided to use factors in its model,” said Slager.His checklist had eight points:Treat factor investing as an investment belief and an investment paradigm, rather than merely a techniqueEducate stakeholders to a full understanding of factor investingEstablish common definitions for the terminology used with trustees and membersFocus on appropriate benchmark constructionRegularly review the economic rationale for chosen factorsBe consistent in implementationRecognise that these are active choices that require an active stanceDecide early on how static or dynamic allocations to factors will be
Even with all of the fans lining the barrier of Cromwell Field on Wednesday, USC’s annual pro day was a somewhat subdued spectacle.Maybe it was Texas’ concurrent pro day drawing away scouts. Maybe it was the fact that Pete Carroll didn’t make a return to Los Angeles — instead he was in Austin, Texas, scouting Longhorns. Or maybe it was the lack of a player like Mark Sanchez to draw everyone in.In any case, Wednesday’s audition for the NFL draft lacked the hyperbole that normally accompanies such events. Former Oklahoma quarterback Sam Bradford and former Oklahoma State wide receiver Dez Bryant received more attention for their individual workouts than more than dozen Trojans.But even in such a quiet setting, there were still plenty of small opportunities for many USC players to sway NFL teams.For safety Taylor Mays, it seemed odd that he was even on campus. Touted as one of the best physical specimens in college football since his freshman year, Mays seemed like a lock to leave after his junior season. But Mays has found that even the most physically gifted prospects are closely scrutinized.“It’s like I’m a newborn baby,” Mays said. “It’s what everybody has to do; it’s part of the process. That’s what makes it special, having to prove yourself again.”After running a disputed yet undoubtedly fast 40-yard dash time at the NFL scouting combine in Indianapolis, Mays elected not to run the drill at USC. But the safety still had something to prove to scouts in attendance and participated in defensive back drills.“These drills were most important to me because they show what I don’t show on film,” Mays said. “They know I can run fast and hit, but being able to be a big safety and move is the biggest question mark.”Part of Mays’ preparation for the NFL has been a rewiring of his playing style. After meeting with several NFL teams, Mays realized that the role he played at USC will be different from the one on his future team.“I was taught to go for the receiver. In the NFL, you get paid to make interceptions,” Mays said. “I wasn’t really coached to do it at USC, but I know I can do it in the NFL.”Fellow safety Will Harris might have had the most impressive day of anyone in attendance. After making the most of his sole year as a full-time starter, Harris ran a 4.59 40-yard dash and posted an incredible 35 reps of 225 pounds on the bench press.Harris doesn’t generate the same kind of recognition that Mays or USC’s other elite prospects do, so making the most of this opportunity could prove critical in catching a team’s attention.“There are a couple of things I could have done better, but I did well on a lot of things, so at the end of the day I’m happy,” Harris said.Joe McKnight used the day as a means of distancing himself from his USC career. The running back repeatedly stated that he felt his three years in Los Angeles did not live up to expectations. After a somewhat tumultuous ending to his time at the school, McKnight is looking forward to starting a new chapter.“I could have done more these past three years,” he said. “But things happen for a reason.”Comparisons to Reggie Bush followed McKnight around USC since his arrival as a freshman from Louisiana. As he moves on to the professional level, McKnight just wants the chance to be himself.“I tried to do too much of the stuff [Bush] did instead of playing my ball,” McKnight said of his playing career at USC.For running back Stafon Johnson, the day was an opportunity to restate his perseverance — not that anyone needed confirmation of that. Johnson has remained resolute in returning to football since a grisly weightlifting accident forced him to undergo emergency surgery on his vocal cords.Johnson proved that he belonged by returning to the field and working out at the level of any other prospect expecting to get drafted. Wearing a shirt that said “God has a plan” on the back, Johnson displayed confidence in his performance and NFL future.“Mentally, I’m stronger than ever,” Johnson said. “Right now, just going through the process had made me mature and more determined to get the job done.”If there was one thing that was universal for all of the players Wednesday, it was the sense that the process was wearing on them. With three weeks until draft day, there’s only so much the players can do before the process comes to an end.Maybe then it will be easier to find meaning in this pro day.“Tackling Dummy” runs Thursdays. To comment on this article, visit dailytrojan.com or e-mail Michael at [email protected]
“There are definitely more positive conversations happening – with more clients, ” said Brenda White, director of print investment for Starcom USA, which buys advertising space for dozens of companies. “We know there is going to be a future for the company, which could have been a question before.” Still, Lyne declined to talk about when advertising revenue would return to its original levels or when the company would return to profitability, after suffering a string of losses. In late July, Martha Stewart Living reported second quarter losses of $33.5 million, compared to a loss of $17.8 million in the year-ago period while revenue rose 4.3 percent to $46 million from $44 million. But the company also said that it expects to narrow its operational losses at the end of the year. “The queen ruled once from her castle,” but time will tell whether Stewart can reclaim her position, said Robert Passikoff, president of the New York-based market research company Brand Keys Inc. Analysts also cited intense competition from other lifestyle magazines like Real Simple, which benefited when advertisers turned away from Stewart’s publications during her legal troubles. Ivan Feinseth, managing director for Matrix USA, LLC, a New York-based research and brokerage company, also warned that the brand could suffer from too much exposure. “She has a chance to build back the company to where it was, but it has to be slow,” he said. In addition to the two TV shows, and the upcoming home improvement show, set to air on cable channel Discovery Communications next year, Stewart will have a 24-hour radio channel with Sirius Satellite Radio Inc. that will feature cooking, gardening and entertaining programming for women. It will make its debut later this month. Consumers will also see more products starting with the holiday season. There will be a DVD series of how-to tips starting in October with the first four titles focused on holiday entertaining. “Martha Stewart’s Baking Handbook,” Stewart’s first cookbook in six years, will be out in November and a business book called “The Martha Rules” is due out later this month. “We are very comfortable with the level of attention the company is getting,” Lyne said. But she acknowledged the company recently tweaked the syndicated talk show, which made its debut Sept. 12, to make it more instructional. However, Lyne said she was pleased with the ratings. In fact, the TV shows have helped promote Stewart’s brand and business partners. On her “Apprentice” show, for example, contestants had to create a children’s fairy tale for Random House, which publishes Stewart’s books. Another episode had contestants design a flower shop, a plug for her online flower business. “I think that ‘Martha,’ in particular, has been incredibly valuable in reaching a broader audience and delivering on our promise to answer not only the question of how to do something but why we do what we do,” Stewart wrote in an e-mail response to The Associated Press. As for Stewart’s version of “The Apprentice,” which is not affiliated with the company, Lyne said she has been disappointed by the ratings. According to Nielsen Media Research, the reality show only attracted 7.0 million viewers in the first episode; the number fell to 6.1 million the following week. The show could be a victim of viewers being too bored with the format – ratings for Donald Trump’s “Apprentice” have also disappointed this season. But Feinseth pointed out that Stewart’s polite demeanor on the show, while pleasing her core fans who watch her daytime show and buy her products, could turn off reality TV viewers who were expecting Stewart to be as harsh as Trump. Lyne said she doesn’t feel that “Martha should be a different persona,” even if she could. “We are involved in a much longer game,” Lyne added. “What is good for the company and what is good for her is being well served by the show.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! NEW YORK – Martha Stewart wants to be everybody’s best friend, but it’s a tough popularity contest. New projects reflect a new touchy-feely business approach and friendlier persona for the diva of homemaking. She rapped with Sean “Diddy” Combs and made dough figures with Conan O’Brien on her new daytime talk show “Martha,” and on her reality show “The Apprentice: Martha Stewart,” she writes lovely rejection notes to canned candidates. She has even quickly incorporated her five-month prison experience into her brand, selling 13,000 copies of that famous poncho she wore when she was released in March to benefit women’s charities. Stewart is also reaching out to new viewers, with plans to develop a new home improvement reality TV show next year, as well as new books, DVDs and a radio show in coming months. Whether this new approach will help to turn around Martha Stewart Living Omnimedia Inc. remains to be seen. Advertisers fled and her stock plummeted as much as 50 percent while Stewart fought against charges of lying to investigators about a stock sale, then shares and its business rebounded while she served time in Alderson, W.Va. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 But since Stewart’s two TV shows made their debut last month, the stock has fallen 29 percent to around $24 per share amid lukewarm ratings. And some fans are not quite sure what to make of the new, funnier and chattier Martha. “I miss her old show. I walked away learning more. She was more studious,” said Jane Sanders. “Celebrities don’t do it for me,” said Sanders, 40, from Queens, N.Y. who was part of the live studio audience for Stewart’s talk show featuring O’Brien last week. But there are also positive signs. Susan Lyne, president and CEO of Stewart’s New York-based multimedia company, reported that sales of Martha Stewart Everyday merchandise, from pots to towels, at Kmart stores have enjoyed an uptick. The company is also seeing interest from potential new suppliers and retailers about new products and continues to talk to Sears Holding Corp. about expanding Stewart’s Kmart products into Sears stores, Lyne said. Advertising revenue is also getting a boost from the TV exposure, which Lyne said has created a “halo” over the brand. The number of ad pages for its flagship magazine Martha Stewart Living is expected to be up a better-than-expected 48 percent for the third quarter over a year ago, Lyne said.
Jhulan Goswami is probably done with bowling in World Cups and she leaves on a high with a brilliant spell of bowling in the final of the Women’s World Cup at Lord’s.She ended with figures of 10-3-23-3 in the high pressure final against England — drawing high praise from Sachin Tendulkar, Virender Sehwag and Harbhajan Singh.What an incredible spell by Jhulan! Proud of your effort! Plenty of cricket to be played. Keep pushing hard… #IndvsEng #WWC17Final- sachin tendulkar (@sachin_rt) July 23, 2017 Jhulan ne Jhula daala.Wonderful fightback from India.#WWCFinal2017- Virender Sehwag (@virendersehwag) July 23, 2017Jhuuuulllllaaaaaannnn????????????????????????????????????????????? keep going?????? Ind vs Eng #WWC17 final @BCCIWomen @ICC- Harbhajan Turbanator (@harbhajan_singh) July 23, 2017Jhulan’s effort was the third best bowling figures in a Women’s World Cup, behind England’s Nicky Shaw (4/34) and Australia’s Ellyse Perry (3/19). Her spell came in at a handy time and got India back into the game as the hosts were beginning to go away with the game.England got off to a good start but lost three quick wickets before Sarah Taylor and Natalie Sciver joined forces to rebuild the innings. Taylor and Sciver weathered off the storm at first and kept the scoreboard ticking along. Set in the middle, the batswomen were looking to get on with it and India captain Mithali Raj brought her most experienced bowler back into the attack and she didn’t disappoint.She got rid of Taylor first on 45. The wicketkeeper was looking to flick one off her legs but got the slightest of knicks, only to get caught behind by Sushma Verma. She broke the important partnership of 83 runs the pair put together for the fourth wicket. She struck again in the very next delivery — getting Fran Wilson leg-before to leave England reeling at 146/5 in 32.5 overs.advertisementWith England losing half their side, the onus was on Sciver to take England to a promising score but Goswami had other plans. Right after the all-rounder completed her fifty, Goswami sent her packing by trapping her leg before wicket.Talking about her important spell today, she said that being a senior player she had to step up and look to give the team a good start.”This is the final match and an important one. Being the senior player I tried to give the team a good start and hit the ball into the right areas. There’s hardly any bounce in the wicket and is a bit slow. So, I was just trying to bowl wicket to wicket and outside the off-stump line,” said the former India captain.Goswami’s form coming into the tournament was not great but as the matches came along, she got better and better. Talking about her form, she said that she found her rhythm after the Pakistan match.”First two matches I was struggling and was not being able to hit the lines in the right areas. Then I got back to my basics and talked to my coach. In the Pakistan match I got back to my rhythm and then I kept my momentum going,” said Goswami.She adviced the batters to apply themselves and play the full quota of overs to grind out a victory.”Just be there and apply yourself and try to play full 50 overs and try to win the match.””Let the ball come to you, hit the ball through the lines and play with the spin,” she added.She is the leading wicket-taker in One-Day Internationals and has 195 wickets from 164 matches. The lanky pacer has four four-wicket hauls and two fifers to her name with 6/31 being her best against New Zealand at Southgate in 2011.