New York Life 130/30 Webcast (video): New York Life Investment Management 130/30 video is now online.  Enjoy on your 60″ plasma screen with some popcorn.

Institutional Investment Managers Predicted to Increase Hedge Fund Allocations by 25 to 50 Percent Over the Next Two Years: Wharton prof. says “You’d expect a certain proportion of failures — including some spectacular failures — in a universe that now includes roughly 15,000 funds. But hedge funds are not necessarily riskier as a group just because some fail.”

New LDI tools evoke ‘false sense of security’: A UBS study questions the suitability of new liability-driven investing (LDI) techniques.

AP3 restructures for alpha-beta separation: Our favourite Swedish pension plan confirms organizational changes that will pave the way for the separation of alpha and beta.

No Shortcuts Here: 130/30 Funds Require A Long, Hard Look: Poor performance from the early 130/30 mutual funds has convinced at least one major business newspaper that, “individuals are better off sticking to plain-vanilla funds.”

Back in Black: After a relatively good May, hedge funds are back in the black for 2008 – prompting the CEO of one major hedge fund firm to report in a recent telephone interview with AllAboutAlpha.com:  “We’re back in black, I hit the sack.  I’ve been too long, I’m glad to be back.”

After a brief pause, the executive continued, “Yes, I’m let loose from the noose that’s kept me hangin’ about.  I’ve been livin’ like a star ’cause it’s gettin’ me high.  Forget the hearse, ’cause I never die.  I’ve got nine lives, cat’s eyes, abusing every one of them and running wild.”