Hedge Fund Performance 2009 09       Hedge funds as represented by the HFRI returned 17.01% year to date. In the same time period, the MSCI World returned 38.08% YTD. Global Bonds measured by the Barclays Global Bond Index (the old Lehman Agg) gained 8.14%, and the CRB Index (Commodities) gained 17.71%. Adding more

Hedge Fund Leverage. Too much or too little? Every time there is a hedge fund crisis the subject of leverage comes up. But how does one define leverage in a hedge fund? Is it the same definition you would use for a proprietary trading desk being allocated risk?

Thinking about UCITS from the investment manager’s perspective:   Those of us faced with the reality of European hedge fund regulation will be familiar with UCITS III. You get points for knowing what UCITS actually means: Undertakings for Collective Investment in Transferable Securities, quite meaningless and proof positive of its European provenance. In 2008, hedge

Hedge Fund Leverage. Too much or too little?   Every time there is a hedge fund crisis the subject of leverage comes up. But how does one define leverage in a hedge fund? Is it the same definition you would use for a proprietary trading desk being allocated risk?   Let’s deal with fixed income

It is time for central banks to back away. Not from raising or cutting rates. It is time for them to extricate themselves from any activities that might distort market prices. It is time for governments to back away. The economic purpose of government should be to provide frameworks and systemic infrastructure, and to only