Archive for 2013

Top Five Alpha Stories of 2013

Dec 30th, 2013 | By | Filed under: Alpha Hunters, Alpha Strategies, Today's Post

In the interests of full disclosure I acknowledge here that I recently entered the realm of bitcoin owners myself. That said, bitcoin is a fascinating story, one of our top five of the past year.

No Joking Matter: The IMF’s Embarrassed

Dec 29th, 2013 | By | Filed under: Insolvency, Today's Post

The IMF has been embarrassed by recent events and hopes to prove that its approach to debt restructurings is not all about the 'occupation' of debtor nations. So it seems determined to make life more difficult for the bondholders of insolvent sovereigns.

The Global Economy in 2014 – 5 Key Trends

Dec 26th, 2013 | By | Filed under: Emerging markets, oil, Today's Post

Guest columnist Shane Brett looks at the year ahead.

A Bird’s Eye View of India’s Real Estate Development and Regulation

Dec 23rd, 2013 | By | Filed under: Emerging markets, Infrastructure, Real Estate, Today's Post

Guest columnist Sourabh Jeswani explains regulatory changes in India's real estate market and the opportunities these changes may offer.

Cerulli on the Zombie Apocalypse in China

Dec 22nd, 2013 | By | Filed under: Emerging markets, Institutional Investing, Today's Post

The numbers of undead mutual funds in China has created a sharp disparity between the fund count and the AUM count. Since no one ever drops out, the fund count only goes up.

US to Become Less Dependent on Foreign Oil — Be Careful What you Wish For

Dec 19th, 2013 | By | Filed under: Energy, oil, Today's Post columnist Claude Salhani looks at the relationship between the United States and foreign oil and what a shift might mean

Finance, Fraud, and Still-Recent Memories

Dec 18th, 2013 | By | Filed under: Derivatives, Media Coverage of Hedge Funds, Today's Post

Judge Rakoff has hit a nerve with his contention that criminal cases in connection with the late mortgage derivatives bubble aren't being brought in large part due to "the government's own involvement in the underlying circumstances that led to the financial crisis."

IOSCO Cautions About Fragmentation

Dec 17th, 2013 | By | Filed under: Best Practices, Regulatory, Today's Post

The IOSCO has recommendations for market authorities as to trade execution services. These recommendations are driven by a general sense that technology has brought about increased fragmentation and that this, unless carefully monitored, is a dangerous thing.

Thoughts on Stanley Fischer

Dec 16th, 2013 | By | Filed under: Currencies, Today's Post

There is something inherently perilous in choosing the recipient of any important post by reliance upon the most impressive resume: by that method you can get an endless supply of insiders, confirming that the inside is always the right side.

Ukraine’s Two New Energy Deals

Dec 15th, 2013 | By | Filed under: Energy, Featured Post

If one was to believe the picture that most Western media outlets are painting, Ukraine has been lost to Russia. Though the country fought valiantly to sign an Association Agreement with the European Union in Vilnius, Lithuania last month, President Viktor Yanukovych suspended negotiations with the EU at the last possible moment, betraying Ukrainians everywhere. […]

Getting Past the ‘Taper Tiger’

Dec 15th, 2013 | By | Filed under: Alpha Strategies, Hedge Fund Industry Trends, Today's Post

Guest columnist Diane Harrison on taming the taper tiger.

The Cayman Islands’ New Fund Governance System

Dec 12th, 2013 | By | Filed under: Alpha Strategies, Hedge Fund Industry Trends, Hedge Fund Regulation, Today's Post

Ogier Partner Peter Cockhill recently examined the direction in which the Cayman Islands regulator CIMA is headed on fund governance. He thinks the costs of the new framework, though real, will prove reasonable given the benefits.

What Will SCOTUS ‘See’ and Know, in Alice?

Dec 11th, 2013 | By | Filed under: Algorithmic and high-frequency trading, Legislation/Court rulings, Risk management, Today's Post

The U.S. Supreme Court has now agreed to hear arguments about Alice, litigation that squarely raises a question with which lower courts have struggled ever since the Bilski decision in 2010 failed to offer them any guidance: is all software 'abstract' in the legal sense, and thus as such unpatentable? If not, then what is the legal sense of "abstract"?

Celent: Back Office to the Front Burner

Dec 10th, 2013 | By | Filed under: Best Practices, Infrastructure, Today's Post

A new report, which concerns specifically the post-trade operations of equities and fixed income instruments, says that since the crisis of 2008 the management of costs has become "an utmost priority." Cost management, though, isn't the same as downsizing.

Anti-Fragility: South African Central Banker on Dollar and Rand

Dec 9th, 2013 | By | Filed under: Conference report, Emerging markets, Forex, Today's Post

It is certainly true that a lot of foreign-denominated debt would worsen prospects for South Africa. But even in the absence of such a trap: can a nation boast of anti-fragility (or even, more aptly, of robustness) simply because it has the option of devaluation?