What do Investors Want?
Tuesday, 31 March 2009 | 11:19 am
2008 was a traumatic year for investors in pretty much any asset class or strategy. In 2009, I’ve been reading a number of investor surveys seeking to discover what investors want. I am as usual focusing in particular on the hedge fund industry. Key findings: Investors continue to favour larger hedge funds in
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The Blame Game
Monday, 30 March 2009 | 3:57 pm
I’ve been thinking about who is to blame. The first answer that comes to mind is my parents, because they are usually to blame for just about everything else, but I am not sure I can pin Madoff or the Credit Crunch on them.
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Recovery or Bear Market Relief Rally?
Friday, 27 March 2009 | 11:08 am
For those of us who have lived through major bear markets there is significant skepticism about the current equity market rally. Reasons to be optimistic: · Economic data is improving. The extreme inventory destocking in late 2008 is being reversed. Housing prices are stabilizing. Housing transactions are rising. · China as an
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The Ultimate Hedger
Thursday, 26 March 2009 | 5:28 am
We clearly have seen the demise of risk management as we have known it. Nassim Taleb spoke very eloquently about the Black Swan, but I suspect even he did not anticipate a gigantic flock of black swans soiling the world’s financial markets. So, where do we look for a better way?
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Positive Convexity
Wednesday, 25 March 2009 | 6:07 am
I remember reading an article about how only hedge funds that exhibited some form of positive convexity, regardless of strategy, survived over the long run.
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