‘Reduce beta in May and go away’ may not have quite the lyrical simplicity of the original old market adage, but may well prove to be appropriate this year.

My colleague Oliver Bergmann who heads up our hedge fund incubation business and I were discussing how the world of credit spiralled so quickly out of control. He sent me the following article by David Merkel who writes a very interesting blog called The Aleph Blog (www.alephblog.com).

I rarely make predictions because I hate being wrong. But I shall make this prediction to help make my short positions profitable. Except that you can’t wash your car to make it rain. So here goes.  As long as there is serious skepticism about the fundamental underpinnings of the current equity market rally, as long

The innovation that was accused of being a New Paradigm in the late 1990’s in the wake of the Internet boom and subsequent bust brought amongst other things the concept of Just-In-Time management of inventory and production processes. This has introduced volatility into the cash flow and earnings generation of a large swathe of the