Archive for October 2010


Stock-picking alpha in a life or death struggle?

Oct 31st, 2010 | By AAA Staff | Filed under: CAPM / Alpha Theory, Today's Post

With stock dispersion at all-time lows, is the art of stock-picking dead or just napping?


Pension funds and minor hockey: not really that different

Oct 28th, 2010 | By Alpha Male | Filed under: Institutional Investing, Today's Post

If pensions funds were hockey teams, it seems many of them probably wouldn't want to watch the scoreboard too closely.


For hedge funds, is China ultimately going to go the “yuan” way?

Oct 27th, 2010 | By AAA Staff | Filed under: Institutional Investing, Today's Post

Hedge funds and others are trying their best to ensure they don't make the "yuan" moves as China maneuvers it's way to tighter monetary policy.


Alphabet Soup of REITs satisfies world’s thirst for liquid real estate

Oct 26th, 2010 | By AAA Staff | Filed under: Institutional Investing, Today's Post

Real estate investment trusts (REITs) are gaining popularity around the world. REIT-on dude!


Using options instead of stocks for merger arb: Apparently not for the faint of heart

Oct 25th, 2010 | By Alpha Male | Filed under: Academic Research, Hedge Fund Industry Trends, Today's Post

If you are a merger arbitrage manager you probably already know this...


SEC: When is a Family Office not a Family Office?

Oct 24th, 2010 | By Alpha Male | Filed under: Retail Investing, Today's Post

The Dodd-Frank Act requires hedge fund to register with the SEC. But it also nearly also forced America's 4,000 family offices to do the same. That got the SEC is wondering: What exactly is a family office anyway?


Alpha generators to beta grazers: mooove over for currency managers

Oct 21st, 2010 | By AAA Staff | Filed under: Academic Research, Institutional Investing, Today's Post

A new academic paper suggests alpha does exist after all - just not in the form or format that many investors think.


A “concrete” measure of absolute returns?

Oct 20th, 2010 | By Alpha Male | Filed under: Academic Research, Performance, Analytics & Metrics, Today's Post

What exactly are "absolute returns" anyway? Ask 10 different investors and you'll probably get 10 different answers.


Cotton’s homage to Mandelbrot (and another weird statistic)

Oct 19th, 2010 | By Alpha Male | Filed under: Today's Post

The man who inspired the concept of the "Black Swan" discovered the famous anomaly in cotton price data. So it was a fitting tribute that cotton prices spiked to an all-time high the day he passed away last week.


Conflicting pension fund studies? One: “Small is beautiful.” The other: “Bigger is better.” What up?

Oct 18th, 2010 | By Alpha Male | Filed under: Academic Research, Institutional Investing, Today's Post

A study based on newly available pension fund data suggests that there are significant economies of scale in pension fund management. But a recent study based on the same data seemed to conclude the opposite.


Co-investing alongside hedge funds? Could be lucrative, but read this first…

Oct 17th, 2010 | By AAA Staff | Filed under: Academic Research, Institutional Investing, Today's Post

A new academic paper puts more blame on hedge funds for the 2008 credit crisis and market collapse, arguing that liquidity risk in stocks is inherently higher among securities held by hedge funds than in securities held in the portfolios of individual investors and banks.


Gaming the Good Housekeeping Seal of Approval

Oct 14th, 2010 | By AAA Staff | Filed under: Hedge Fund Regulation, Today's Post

As UCITS-compliant hedge funds become increasingly popular among funds of hedge funds in particular there is growing concern that underlying managers may be bending the rules to get the UCITS seal of approval.


Homogenized hedge funds

Oct 13th, 2010 | By Alpha Male | Filed under: Retail Investing, Today's Post

Despite a lot of chatter and an assortment of industry surveys, some still say there hasn't yet been a "comprehensive overview of the differences and similarities of alternative UCITS funds and hedge funds" - until now...


Bear market funds seen as “win-win” for investors and managers

Oct 12th, 2010 | By Alpha Male | Filed under: Academic Research, Hedge Fund Industry Trends, Today's Post

An article in this quarter's Journal of Alternative Investments is among the first to examine the market timing ability of bear market funds.


The investment road of life is paved with good infrastructure intentions

Oct 11th, 2010 | By AAA Staff | Filed under: Hedge Fund Industry Trends, Today's Post

A report by KPMG and the Economist Intelligence Unit concludes that the public and private sectors can and should be working together to implement infrastructure projects globally - good news for any investor or manager keen on putting money to work building roads, bridges, tunnels and everything between.