Archive for November 2009


7 Questions for Anthony Scaramucci of Skybridge Capital

Nov 30th, 2009 | By Alpha Male | Filed under: Hedge Fund Industry Trends, Today's Post

You might be surprised at how many of today's hedge fund behemoths began life as a seeding project - as hedge fund seeder Anthony Scaramucci tells AllAboutAlpha's Andrew Saunders.


Hedge fund alpha remains in the eyes of the beholder

Nov 29th, 2009 | By Alpha Male | Filed under: Academic Research, Performance, Analytics & Metrics, Today's Post

A recent study questions the validity of alpha calculations based on common hedge fund indices. Others have wondered the same for years, but is this concern really just a red herring?


The Ineichen Dialogues Act II: LaRasmussteinmontians in Yellowstone Park

Nov 27th, 2009 | By Alpha Male | Filed under: Featured Post

This month, we bring you Act II of Alexander Ineichen’s “Ineichen Dialogues” (Act I here)  In it, his three characters Winnie-the -Bear, George Jones and Ben Put discuss recent developments in the financial world with the kind of clarity your children will surely appreciate (pdf version). By: Alexander Ineichen, CFA, CAIA Once upon a time, not so [...]


Illegal Alpha

Nov 26th, 2009 | By AAA Staff | Filed under: Hedge Fund Industry Trends, Today's Post

Sure, alpha exists and can be obtained. The question, though, in the age of frauds, blowups and misnomers, is: can it be attained legally?


A cornucopia of scrumptious news

Nov 24th, 2009 | By Alpha Male | Filed under: AAA Newsreels, Today's Post

All the news that's fit to eat this Thanksgiving.


ETF hedge funds: The Infinite Monkey Theorem

Nov 23rd, 2009 | By AAA Staff | Filed under: Alternative Beta & Hedge Fund Replication, Today's Post

If a monkey hitting keys on a typewriter at random can eventually reproduce Shakespeare's works, can an ETF loosely based on a hedge fund strategy eventually replace a hedge fund manager, and the fees he or she charges?


Is the vaunted “illiquidity premium” partially an illusion?

Nov 22nd, 2009 | By Alpha Male | Filed under: Academic Research, Hedge Fund Operations and Risk Management, Performance, Analytics & Metrics, Today's Post

An academic study finds that a hedge fund's source for pricing data can tell you a lot about its propensity to "smooth" returns.


When skittish hedge fund investors and lenders become a problem for everyone

Nov 19th, 2009 | By Alpha Male | Filed under: Academic Research, Hedge Fund Operations and Risk Management, Hedge Fund Regulation, Today's Post

A study by the European Central Bank explores what happens when hedge fund investors and prime brokers want their money back in a hurry.


Pass the fees, please

Nov 18th, 2009 | By AAA Staff | Filed under: Investment Management Fees, Today's Post

Still more evidence that hedge fund managers aren't going to climb back above their high water marks for the foreseeable future. The question is how much longer managers will be willing to tough it out.


Morningstar: Alternative investments not derailed by recession

Nov 17th, 2009 | By Alpha Male | Filed under: Hedge Fund Industry Trends, Today's Post

Morningstar's second annual survey of advisors' and institutions' views on alternative investments suggests the industry keeps on chugging along.


Weathering the perfect storm of taxes, risk, regulation and the wrath of investors

Nov 16th, 2009 | By Guest | Filed under: Hedge Fund Industry Trends, Today's Post

E&Y's recent survey of 100 major hedge fund managers shows that many now acknowledge inevitable regulation, the downside to "gating" and the importance of risk communication.


The NAV, the whole NAV and nothing but the NAV…

Nov 15th, 2009 | By AAA Staff | Filed under: Academic Research, Hedge Fund Operations and Risk Management, Today's Post

Gone are the days where calculating NAV was a guesstimate and where an administrator's role was the rubber stamp it. Say hello to the new era of daily NAV calculations, third-party verifications and accountable administrators.


How to succeed at long/short without really trying

Nov 12th, 2009 | By AAA Staff | Filed under: Performance, Analytics & Metrics, Today's Post

If watching indexes and indicators made for perfect stock-picking, wouldn't everyone do it? Another methodology on how to figure out in advance where a sector might be headed.


In portfolio management, sometimes the sum of the parts is greater than the whole

Nov 11th, 2009 | By Alpha Male | Filed under: Academic Research, Portable Alpha & Alpha/Beta Separation, Today's Post

It's not that active managers are using the wrong parts, it's just that they're using the wrong numbers of them, says this must-read document.


“1.75 and 21.93″: The new, new, new fee structure?

Nov 10th, 2009 | By AAA Staff | Filed under: Investment Management Fees, Today's Post

Investors will still cough up for alpha if they think they can get it, but aren't going to be as tolerant paying for beta anymore.