Riley: Providence Journal and Seth Magaziner Perfect Together
Tuesday, October 28, 2014
Some claims here below:
From his treasurer website
An investment professional with a strong track record, Seth will bring a steady hand to the state’s retirement system,.. Since returning home to Rhode Island, Seth has worked at Trillium Asset Management, a socially responsible investment firm with over one billion dollars of assets under management. As a Vice President at Trillium, Seth oversees more than one hundred million dollars of investments, and he has helped produce strong returns for retirement funds, religious organizations and nonprofit endowments.
From Projo endorsement
After Yale, he went to work for Trillium Asset Management, which manages more than $1 billion of assets. As a vice president of the firm, Mr. Magaziner oversaw more than $100 million in investments, helping produce strong returns.
I’m Doing Projo’s homework for them
In order to determine how Seth s pick as an analyst performed I downloaded the entire portfolio of Trillium Asset Management into a spreadsheet from the SEC filing Trillium made two weeks ago. I then segregated all of $1.2 billion in Trilliums holdings into 2 groups, financial stocks and all others. Lo and behold!, the dollar amount of Financial stocks held at Trillium is approximately $110 million. Exactly the amount that Seth claims to “oversee”.
Those stocks are listed in the table below in the share amounts held and the performance in 2014 which is almost over. The returns were anything but strong. Seth’s picks were awful.
Seth Lays an egg
The table below shows the year to date performance of all Seth Magaziners’ Stock Picks. As of today October 27, 2014.His picks are down 2% in 2014 compared to a gain of nearly 7% for the S&P 500. A 9% lag in performance would cost Rhode Islanders $ 720 million in one year alone. Nice job Projo on your research.
Two lazy prevaricators Projo and Magaziner “perfect together”.
As always, I back my opinions with facts and I am happy to produce them in a public way to anyone.
Related Slideshow: 2014 Political Ads and Videos
See the 2014 Political Ads -
The Anti-Cianci group has finally been established and launched their first TV ad.
The group is lead by former East Side State Senator and three-time failed candidate for Governor.
This is the second time the group tried to form.
Democratic candidate for Governor Clay Pell has released a new political ad titled, "Hope".
The ad demonstrates Pell's decision to run a positive campaign, his plan for Rhode Island, and his pledge not to accept contributions from PACs or state lobbyists.
"I have a real plan to make Rhode Island ready for tomorrow: To invest in education, rebuild our infrastructure, create jobs, and ensure equality for all. I'll be a different kind of Governor. I'll never take a dime from PACs or state lobbyists," said Pell.
Democratic candidate for Secretary of State Gorbea launched her first TV, "Deputy", three weeks prior to the primary.
The ad starts out by Rhode Islanders confusing Gorbea as the most recent Secretary of State -- with Gorbea correcting them.
"Nellie will hold lobbyists accountable...no more of that 83 Studios nonsense," says a hairdresser in the ad.
"38 Studios," replies Gorbea.
Guillaume De Ramel
Democratic candidate for Secretary of State Guillaume De Ramel has released a new campaign video titled, "Foundation". The video highlights De Ramel's reform agenda.
"I’m not taking a penny from lobbyists. We'll build a Rhode Island that works for all of us," said De Ramel.
Guillaume De Ramel
Guillaume De Ramel, Democratic candidate for Secretary of State, has released his first television ad.
The ad illustrates De Ramel's reform policies.
“Rhode Islanders need a watchdog to ensure something like 38 Studios never happens again,” said Guillaume. “There is so much potential in our state and I know we can positively impact our economic climate by cutting red-tape, increasing openness and transparency, and creating a new way of doing business here in Rhode Island."
Democratic gubernatorial candidate Clay Pell released a new campaign video titled "Ideas," responding to an attack ad from primary opponent Angel Taveras.
"I learned from my grandfather that campaigns shouldn't be about tearing people apart, but about ideas," Pell said. "Let's reject the old politics of attack and innuendo, and build a better future for Rhode Island."
Open for Business
Cranston Mayor and Republican gubernatorial candidate Allan Fung released a new campaign video titled "Open for Business."
"I became Mayor of Cranston, where I froze taxes for 3 years, saved millions reforming public pensions, and helped create 1,000 jobs," Fung said. "I'll do the same as Governor."
In the ad, Fung pledges to "challenge the old way of doing business" and make Rhode Island "open for business again."
The 30 second ad highlights Pell's women's equality agenda and is narrated by Michelle Kwan, former Olympic skater and wife of Democratic candidate for Governor Clay Pell.
"Clay is committed to a women's equality agenda that strengthens protection for women in areas like pay equity, sexual harassment and domestic violence,” Kwan says. "Clay knows Rhode Island can be ready fro tomorrow by making it one of the best places for women to live and work."
A new TV ad by Angel Taveras throws a counter punch at Democratic primary opponent Gina Raimondo for her ad criticizing his economic record as mayor of Providence.
"You've probably seen that ad where Treasurer Raimondo is blaming me for Rhode Island's economy," Taveras says. "We know better. The state was already struggling when the Wall Street crash made it worse."
"My opponent wants to throw stones from On High," Taveras contnues. "I want to build a better future from the ground up."
A new TV ad by Gina Raimondo is a direct negative hit on Angel Taveras. The ad questions Taveras' record in Providence and his ability to lead.
Is this an act of a desperate Raimondo or the first step to openning up a lead?
Biggest question is do voters leave Taveras to go to Raimondo or will they all shift to Pell?
Taveras: Main St. vs. Wall St.
Angel Taveras, Democratic candidate for governor and the current mayor of Providence, has released a new television ad describing himself as the "Main Street" option and painting his opponents as politicians with Wall Street interests.
“Me, I’ll take Main street in Rhode Island over Wall Street any day," said Taveras.
Fung TV Jobs
Fung for Governor
This May video spot was the first GOP ad of the 2014 campaign for Governor. In this ad the Fung campaign focused on his record of job creation while Mayor of Cranston.
The first negative ad in the race for Governor was launched by Allan Fung's campaign hitting Block on his ties to Chafee and Obama.
Man with a Plan
The Brett Smiley for Mayor campaign has launched one of the most enjoyable TV ads. The problem may be that it appeals to his base and may be tone deaf to the issues of jobs, potholes and crime.
Folks in Providence may be looking for action rather than plans.
Like Smiley, Block comes out early with a "plan" ad. For Rhode Islanders suffering through the worse economy in the country and the highest unemployment patience for plans may run thin.
Pell for Governor
Pell's announcement video came before it was unveiled he forgot to vote and lost his car. This announcement video was the first look at candidate Pell for most Rhode Islanders.
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