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"?
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.
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?
Even after the worst of the U.S. debt ceiling crisis passed, concerns about the Yen and unsatisfactory second-quarter performance numbers weighed the Nikkei down.
For pension managers these days, decision making is about managing a glide path that doesn't become a fiery crash. In appealing to such clients, consultants shouldn't think of themselves as sales people selling particular products in separate boxes.
A recent decision from the Second Circuit constitutes the latest fall-out from the criminal behavior of Edward Strafaci, who as portfolio manager for the Lipper funds overstated the value of the assets they held between 1998 and 2002.
Futures Magazine looks at the Top 50 brokers of 2013
The share of equity trading volume accounted for by dark pools has risen steadily in the U.S. in recent years. What have been the preconditions of this? what are its benefits and what are its costs?
The QFII advisory business will for tricky for the smaller fund management companies, because the private firms with which they compete there "tend to boast better investment teams."
The house that Kins built fell fast and hard. Futures Magazine explores the story from the beginning.
A new youtube video that seems aimed at building public sentiment for preserving section 716 of the Dodd-Frank Act intact, is actually after bigger game. And the bigger game is a far better target. But the word "derivatives" is not really that tricky to pronounce.
The average billionaire owns four homes. Though most billionaires are “still based” we’re told, “in the same locations where they were raised,” it must certainly be nice to have the three getaway locales.
October saw some outflow of money from hedge funds in North (and Latin) America, though there were net inflows in the other regions. Eurekahedge attributes the North American outflow to profit taking and portfolio shuffling, and expects that money will be back.
Guest columnists from Tesseract Asset Management look at investor behavior and risk management.
The good news is that there is a general consensus that QE-infinity is not sustainable. "The notion that QE has distortionary effects is widely accepted," says the CSAM white paper.
Guest columnist Shane Brett looks at AIFMD and what it means for Americans.
In a traditional lawsuit over the sale of swampland in Florida I would have to show not only that the salesman lied to me, but that I relied on that lie, and accordingly built a house there and glub glub glub.
NACUBO President and CEO John D. Walda and his Commonfund Institute counterpart John S. Griswold said in a statement, “the data concerning alternative strategies will bear watching as more colleges and universities report their FY2013 results.”
Guest columnist Andrew Beer looks at fee reduction as an "alpha generator."
A new report from Celent wonders why the mutual fund industry is growing so slowly in India, and why it is so over-represented in just five of the cities of the subcontinent.
The key to understanding the mechanics of bitcoin is that at ten minute intervals the 'miners' gather up the recent proposed transactions and try to add them to the block chain, the universal ledger of bitcoin transactions.
Which trend is your friend in the forex markets? A slide show on the seven best currencies.
Guest columnist Shane Brett explains the steps needed for firms to be FATCA-compliant.
Guest columnist firm Tesseract on charting proper risk management in rapidly changing seas.
In the Endicott case, the Tax Court adopted the Internal Revenue Commissioner's view against the taxpayer. But on the central interpretive question involved, there remains no bright line test.
Two institutional investors challenged the legality of a forum selection bylaw favoring the management of Chevron Corp. They have lost this battle in the Delaware courts. How significant is that loss?
Consider TMX index futures: volume and open interest were both heading up sharply in the period 2005-06. But OI peaked in 2006, while volumes continued up for another two years. Going forward, too, the two are not expected to move in tandem.
Guest columnist Jenny Kassan looks at the potentially unintended consequences of the JOBS Act as it relates to Direct Public Offerings.
A big story came with Beijing and London datelines on Tuesday, October 15: a deal that may make the City of London a major trading hub in the Chinese yuan, while making life easier for British investors who want to invest directly in China. What does this mean for the U.S. dollar?
Guest columnist Doug Friedenberg turns over a few rocks in Cyprus and finds that there might still be something left.
Special to AllAboutAlpha from OilPrice.com on energy in Turkey and the Ukraine
Peter Nessler discusses the financialization of the grains markets
Managers broadly are of the view that the more complex a regulation, the more expensive it is for those affected. The regulations that concern them the most in this respect are: FATCA and AIFMD.
Guest columnist firm Tesseract looks at mainstream asset allocation and its various risks.
Numbers indicate that specialist advisory firms manage nearly twice as many assets as the industry average. As Cerulli Associates observes in a recent issue of The Cerulli Edge, this "validates the strategy."
A recent article on the use of catalytic events to predict volatility, written by Paul Rowady of the TABB Group, provides food for thought for derivative traders, crystal-ball gazers, and compliance officers alike.
The hedge portion of a liability-driven portfolio can be dominated by long-duration fixed income instruments. One of the points of a new Cerulli report is that by offering those, asset managers can get a valuable 'in' with the sponsors of DB plans, to whom LDI appeals.
Challenges brought about by the 2007-08 crises and their long wake have interacted in the U.S. with what was then a new fair-value hierarchy, the three levels of valuation as established by the FASB.
Cerulli acknowledges that buying an existing boutique, as a way in which an established long-only mutual fund manager might start offering alternative products, is quicker than is the build-from-within approach. But the M-and-A shortcut ought to come with a warning.
Guest columnist Don Dale looks at
Guest columnist Diane Harrison looks at the U.S. JOBS Act for what it is...and isn't.
Guest columnist Tesseract looks at the second half of 2013 and asks the question "Where are we headed?"
By John Brynjolfsson, Chief Investment Officer, Armored Wolf The nation is at an impasse. Though some may quip that markets have barely reacted to the shutdown, and pending debt ceiling crisis, Washington gridlock has costs. Perhaps not catastrophic at the scale of a nuclear attack, or a Lehman crisis, and perhaps exaggerated by Republicans and [...]
A new paper addresses a group of industrial metals, the platinum group, and suggests that its components might be a wise addition to many portfolios on CAPM grounds.
In his WSJ piece on Oct. 4, Ferguson said that the "fiscal arithmetic of excessive federal borrowing is nasty even when relatively optimistic assumptions are made about growth and interest rates." Although he made a noteworthy error in expounding on this point, the point itself is solid and important.
I would expect that some numbers-thirsty alpha seekers have suffered a reaction in recent days -- since the budget impasse -- analogous to that of the regular customer of a bottle shop who arrives there at the usual time only to find a "Closed" sign unaccountably still front-and-center.
A decision by Judge Nathan on a case arising from the failure of two Bear Stearns branded hedge funds in the spring and summer of 2007 involves a remarkably aggressive application of Daubert, the standard for accepting the testimony of scientific experts.
Comparing the 2011 and 2012 data, some correlations that seemed clear in the former year either disappeared entirely, or become a good deal blurrier, in the 2012 data.
Anshuman Jaswal, senior analyst, Celent, has prepared a report on execution quality in the NYSE market that measures such quality along two axes: pricing and speed. Speed is straightforward, the metric for price as an execution issue is a bit trickier.