Guest columnist Charles Skorina looks at the performance of the "public ivies."
Rene Levesque looks at risk management and absolute return from an industry practitioner's point of view.
Charles Skorina looks at the pension fund situation and what's changed over the years and what hasn't...
Be first to find your Moral Compass and avoid the perils of the Fiscal Cliff.
Away from the bleak headlines, the funds of hedge funds industry is quietly reinventing itself.
Andrew Beer looks at the underpinnings of The Hedge Fund Mirage.
Columnist Doug Friedenberg looks at why the American understanding of climate science has been exceptional, why substantial financial interests may bring it in line with the rest of the planet, and why portfolio managers should care in the first place.
Shane Brett looks at the future of global pensions and what he sees isn't pretty.
Nick Lawler on the JOBS Act.
The wonderful French-born but long-since Americanized scholar Jacques Barzun died last week, October 25, 2012, roughly a month short of what would have been his 105th birthday. I won’t write him an obituary. Many fine samples of that craft are available. Here is a link to one from The New York Times that gives the basics [...]
Charles Skorina talks to Srini Pulavarti about the role of the outsourced CIO for endowments.
Charles Skorina looks at the state of institutional assets.
A recent Kauffman Foundation Study draws daunting conclusions regarding their 20 year experience in the venture capital sector. AARM Founder, Gitanjali Swamy, believes Good Venture exists and shares a road map to help investors find attractive pockets of investment opportunities in venture. What do you think about the future of venture capital in the United States?
Charles Skorina speaks with Curtis Loftis, Treasurer of South Carolina about investment fees.
Charles Skorina discusses what it takes to be a CIO with Sam Gallo.
Ron Resnick, a co-founder of the financial consulting firm CounselWorks, offers this view of the JPMorgan trading loss.
By John Brynjolfsson, Armored Wolf The Armored Wolf investment team held its Secular Forum in late March. This is an annual opportunity to step back and discuss major themes in the upcoming investment environment. This was an effort to identify the dominant underlying forces likely to drive asset prices . Thorough discussion and analysis led us to [...]
Letter to the Editor –John Brynjolfsson The intransigence of the Greek populace is no secret, or covert underground fringe movement. It’s near universal, but for 199 parliamentarians. Though the EU is trying to set up escrow accounts and other controls, it is time for EU to openly acknowledge what EU’s decisions over past six [...]
By John Brynjolfsson, CIO Armored Wolf As markets reel in the wake of the failed German Bund auction that occurred earlier this week, our beliefs regarding financial security are rightly shaken down to their very foundation, and below! After all, 10-Year government bonds, at least as introduced to students in business schools over the past 70 years, [...]
MF Global Liquidation Presents Unprecedented Test of U.S. Bankruptcy Regime for Dually Registered BrokersNov 23rd, 2011 | Filed under: Guest Posts
The collapse of MF Global is proving significant for reasons other than its being one of the ten largest bankruptcies in U.S. history, according to attorneys at Teigland-Hunt LLP. Liquidation of MF Global will require the unprecedented application of two vastly different bankruptcy and customer asset protection regimes that lack [...]
What's it all about, this alpha? And for that matter, where is it? Dr. Bob Swarup tackles the real meanings of alpha and beta.
Hedge fund indexes have been around for as long as there have been hedge funds to index. As the industry evolves, so too the way it is measured must change. The Hedge Fund Barometer intends to change the way we measure hedge fund performance.
Special to AllAboutAlpha.com by: Paul Cantor, CFA, portfolio manager and Diane Harrison, Managing Director, Hercules Trading Fund, LLC Investors looking for opportunities in the hedge fund market first need to consider an overall strategy approach. The typical ‘Big Three’ are: 1) Directional, 2) Market-Neutral, and 3) Event-Driven. Directional strategies seek to anticipate market movements, market-neutral approaches [...]
Sure it's hard to start a hedge fund these days. But for some that obviously doesn't matter.
By: Mikhail Iliev, head writer of Who’s In My Fund? Back in January, AAA asked whether the significant increase in proposed Securities and Exchange Commission examinations heralds a new era for hedge fund oversight. The question looks to be answered soon and most likely in the affirmative – at least in the context of insider trading. Headlines of [...]
Alpha doesn't always have to come from security selection - as today's guest contributor points out.
How much wood would a woodchuck allocate if a woodchuck would allocate part of his portfolio to wood?May 19th, 2010 | Filed under: Commodities, Guest Posts, Institutional Investing, Today's Post
As alternative investors know, money does grow on trees after all. The trick is: how to harvest it.
At the very least, NASCAR and Formula One share two things in common with the alternative asset management industry...
Advocates of “short-extension” or “alpha-extension” strategies such as 130/30 funds often point out that traditional long-only managers are only able to bet against a stock by as much as that stock represents in the benchmark index. After all, they argue, you can do no more than simply deciding not to hold a stock at all. [...]
The past few years have seen discontent about return-based hedge fund fees growing amongst investors. Here's a proposal from one manager that attempts to balance both risk and return.
Alternative Viewpoints: Due to funds’ lack of persistence, the Sharpe ratio has no validity as an investment decision toolOct 29th, 2009 | Filed under: Academic Research, CAIA Alternative Viewpoints Columns, Guest Posts, Today's Post
There have been many studies on hedge fund manager return “persistence”. Persistence, after all, is a necessary precondition for the existence of alpha. Like alpha itself, you might expect that the persistence of a good Sharpe ratio may be possible in less mature (more informationally inefficient) markets. But a new study by Siewling Lay, CAIA, [...]
The hedge fund space has become "contaminated", says this AllAboutAlpha.com reader.
In this month's "Alternative Viewpoints" column, BNY Mellon's Neil Kotecha explains one of the reasons why the Sharpe Ratio isn't so sharp after all.
Who knew "Value at Risk" calculation was an extreme sport? Sure, it's not base jumping...But at least one prominent mathematician turned investment researcher says it's not far off.
Emerging markets are emerging like crazy this spring. So why not just ride the (beta) wave? One expert finds that emerging market alpha can make life a lot more enjoyable.
Is the secret out when it comes to endowment returns?
As GAIM Ops comes to a close, Abdul Sheikh, CAIA, of State Street argues that independent fund administration is now a no brainer.
Book Review: The Heretics of Finance – Conversations with Leading Practitioners of Technical AnalysisApr 5th, 2009 | Filed under: Guest Posts, Today's Post
Heretics of Finance may not change the way readers see the markets, but it just might change the way we see those who read the markets.
In 1513, Niccolo Machiavelli warned Lorenzo d' Medici, ruler of the Florentine Republic about "the inconsistency of prosperity". Did "Black Swan" author Nassim Taleb go back in time to advise Machiavelli? Read this and make up your own mind.
What would life be like with full hedge fund transparency? For clues, you needn't look much further than the US requirement to submit "13F" filings.
Financial crisis to slow convergence of hedge funds and private equity, but not for long, says academicFeb 20th, 2009 | Filed under: Academic Research, Guest Posts, Private Equity, Today's Post
The much ballyhooed topic of convergence between hedge funds and private equity has been bumped from the front pages recently by the convergence of financial sector workers and pink slips. But according to one academic (who has the ear of the US Congress), it's not going away any time soon.
Alternative Viewpoints: Alternative Investments in India – Regulatory easing, growth in private equity, and new real estate opportunitiesFeb 2nd, 2009 | Filed under: Academic Research, CAIA Alternative Viewpoints Columns, Guest Posts, Private Equity, Today's Post
The Indian economy has been in the news a lot recently. But what about alternative investments in the sub-continent?
Jaeger predicts year of alternative beta, the death of “black boxes.” Advocates “scenario based” portfolio construction.Jan 19th, 2009 | Filed under: Guest Posts, Today's Post
Hedge fund industry watcher and alternative beta advocate Lars Jaeger of Partners Group provides us with his hedge fund predictions in this AllAboutAlpha.com exclusive.
Guest contributor Tommaso Sanzin, CAIA says that the natural ebbs and (asset) flows of the hedge fund industry will yield more untapped opportunities and fewer unskilled managers.
Peter Douglas, the widely-quoted hedge fund consultant and manager, forecasts golden times ahead for the hedge fund industry - at least, for those who survive.
Hedge fund replication using factor models is a balancing act between using so many factors that the model doesn't hold up in the future, and using so few factors that the model doesn't hold up at all.
GUEST CONTRIBUTION BY RONALD SOLBERG, MANAGING DIRECTOR, ARMORED WOLF LLC - The US dollar as measured against six major world currencies has appreciated approximately 19% during the last three months through end-October. In particular, the US Dollar index stands at 85, up from a recent low of 71.3. This trend reversal takes the US dollar’s [...]
With the insurance industry in enough trouble as it is, are "cat-bonds" the way forward?
With the commodities boom quickly coming to an end, what's in store for Canada's hedge funds? To help answer this question, one Canadian family office has crunched the numbers and given us permission to show you their full analysis.
Despite complaints about Henry Paulson, Alan Greenspan, and Ben Bernanke, the real problems in today's financial system began with German Chancellor Otto von Bismarck.