Newsreel: Hedge fund headhunting, M&A, and scapegoats
Jul 3rd, 2008 | Filed under: AAA NewsreelsHedge Funds Hire From Wall Street as Jobs Disappear, Pay Falls: Bloomberg reports that hedge fund recruiters may be the biggest beneficiaries of the carnage on Wall Street.
Asia to Create Thousands of Hedge Fund Jobs, Pinnacle Says: And it appears that some of those hedge fund recruiters are likely to be located in Asia.
First Half 2008 Sets Record for Alternatives Manager M&A: Putnam Lovell predicts “In the next 12 months, we expect strong M&A activity involving battered banks and other financial institutions divesting asset management businesses to raise capital, and continued record demand for alternatives.”
Feds Cast Scapegoat Net, Snag Cioffi and Tannin: Bloomberg’s Caroline Baum, author of the book “Just What I Said”, reiterates just what we said last week about the fundamental questions raised by the recent Bear Stearns indictments.
Hedge-fund mystique: the need for transparency: The Australian reports that Morningstar VP of research says it’s time for hedge funds to come clean.
US Presidential Election May Spur Hedge Fund Regulation: Then again, hedge funds may have no choice if this guy is right.
Finding alpha with few bets: Seeking to avoid short-selling, institutions are looking to “concentrated” funds for long-only alpha. (ed: While not technically short-selling, a concentrated portfolio has a negative weighting vs. its benchmark in a huge number of names and a positive weighting in select others - raising interesting questions about whether a long/short fund is really that different.)
