2008 – 2009: Crisis and Recovery
Friday, 05 March 2010 | 11:00 am
Having attended various lectures by academics, regulators, central bankers and investors in the opening weeks of 2010, and being surprised at the diversity of views among the experts, I thought to look back at the 2008 credit crisis in a bit more detail to see what I missed. I tried to look back at the
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Hedge Fund Dispersion and Crowded Strategies
Friday, 05 March 2010 | 10:50 am
One way of measuring correlations between managers is to look at cross sectional standard deviations of returns, i.e. the dispersion of returns, between different hedge fund strategies. Here is what raw dispersion looks like across the HFRI strategy indices: Disperson is fairly stable in a range except for the 1999/200 equity bubble bursting and the
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Sovereign Debt Investing: A Distress Investing Approach
Tuesday, 23 February 2010 | 3:29 pm
The credit quality of sovereign debt is the subject of current scrutiny and debate. The business of government is a complex one with multiple objectives and indeed philosophies. Some believe that governments are inherently inefficient and therefore should have their mandate clearly defined and limited. Others see government as an arbiter that corrects market
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Initial Jobless Claims: Data issues
Tuesday, 23 February 2010 | 8:07 am
The equity markets have been weak on the sovereign risk scares in Greece, Spain and Portugal. As much as this, employment numbers in the US have now come in below forecast in the last 4 weeks.
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Why China is Screwed
Tuesday, 23 February 2010 | 8:04 am
The US owes China 1 trillion bucks. Is it any surprise that China wants a stronger USD?
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