The 2013 performance of the private equity industry, given any of several metrics, was quite strong. Why? In part because the exit environment has been very good.
Private foundations have "regained solid financial footing" in terms of their investment returns over the last two years especially, after the shaky years that preceded. Their mission-related spending has accordingly increased.
Jeff Malec, CAIA, looks at the role of alternative investments in the current market environment and why they are crucial to successful investing.,
Intralinks’ report suggests that “a handful of fundamental and positive shifts” are at work in the recent uptick in M&A activity. On a behavioral note: corporate confidence is returning, and presumably confident managements are more likely to seek out acquisition targets than are nervous managements.
Guest columnist Andrew Beer looks at the consistency of hedge fund returns and finds them, well, lacking...
An aphorism of Warren Buffett's once again making the rounds can be understood in at least three distinct ways. Faille looks at the possible constructions and decides that, whatever exactly Buffett meant to say or do, his reasoning here does little harm to his target, modern finance theory.
Many of recent history¹s most significant market events have manifest in what was (previously) the extreme of the market. These"bubbles" and "crashes" follow power laws, meaning that (in theory) they could reach any size and fundamentally threaten the functionality of the entire financial system. Could random trading be the solution?
Pershing Square owns 9.7% of Allergan's equity. Further, Valeant's proposal is structured so that Pershing Square is more of a co-bidder than a seller.
Charles Skorina revisits his famous "public Ivys" study.
Guest columnist Don Steinbrugge looks at why allocators continue to invest in hedge funds, even when the media thinks they shouldn't.
On Barhydt's view, we have to see Bitcoin and other currencies like it as part of an evolution of the whole world of commerce, payments, and exchange, a vast movement of disintermediation that threatens to disrupt the banking and finance industries.
The patent dispute at issue before the Supreme Court March 31st involved a computerized escrow system that serves as a third party to a deal, eliminating settlement risk. A business-method patent, in short: nothing at all to do with speed of execution, or data compression, or other such trading-infrastructure-related feats.
Vikas Shah interviews Dr. Bob Swarup, CAIA, founder of Camdor Global and author of Money Mania: Booms, Panics and Busts from Ancient Rome to the Great Meltdown.
Spring and the opening of the baseball season bring fresh hope, so we thought it only appropriate to look at the U.S. stock market and its relationship to baseball with guest columnist Thomas Schneeweis.
Guest columnist Diane Harrison looks at the basics of managed futures.
My own quite speculative view is that Europe as a project is coming apart, and that some of the constituent nations may split into underlying parts in the process, but that this is happening slowly and messily so the world is as yet far from seeing any new equilibrium.
The Skorina Report looks at the returns of the Ivy Leagues, which show allocation is not destiny.
A new report from GFIA highlights some asset manager successes: in the Japanese markets riding the wave of Abenomics; in India benefitting from the weakness of the rupee; and in the Arab world thriving against the backdrop of political turmoil.
Andrew Beer looks at hedge fund replication to see if it works.
The latest in a series of annual reports from Rothstein Kass on women in the alternatives world adopts a somewhat less cheery tone than did that of last year. No longer is the dominant metaphor a "tipping point." Now it's a marathon.
Diane Harrison looks at what 2014 may hold for the markets. What pain in exchange for the gain may lie ahead?
Rene Levesque, guest author, looks at the differences between absolute return and alpha and answers the question: can you absolutely return alpha?
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.
The crux of whether a particular MLM is a pyramid scheme, and thus is illegal, is this: is a particular participant paid primarily on the basis of the products he sells or primarily on the basis of the new participants he recruits? The crux for Ackman's trade is whether he can persuade enforcement authorities that it is the latter.
Vikas Shah talks to Alpha Hunter Timothy O'Neill Dunne about the travel sector.
Guest interviewer James Stafford talks to Andrew McCarthy about the new trends in energy trading.
AllAboutAlpha talks to Andrew Lo about the LIBOR scandal and what's next.
Charles J. French, CAIA, discusses the intricacies of negotiating finals with Christopher Van Dyke, CAIA, CFA, Advisor, Arnerich Massena, Inc. (CVD); Kweku Obed, CAIA, CFA, Principal, Mercer Investment Consulting, Inc. (KO); and Thomas H. Dodd, CAIA, CFA, FSA, President, Stratford Advisory Group (TD).
"To learn more about the state and future of the UK economy, we speak to David Blanchflower (Bruce V. Rauner Professor of Economics at Dartmouth College) and John Cridland CBE (Director General of the CBI)."
Alpha Hunter Jeff Joseph talks with AllAboutAlpha about the changes in the regulatory landscape and what this means for hedge fund marketing.
It seemed earlier this year that many investors, including hedge funds, were betting heavily that there would be a ‘hard landing’ for the economy of the People’s Republic. Where do you stand, we asked Douglas, hard landing or soft?
Why has Singapore attained such prominence as it has? That is a mixture of nature and nurture. It has always been a trading hub due to its location, and this has allowed it over the centuries to develop as a professional and commercial services hub as well, which has anchored a capital markets ecosystem.
James Clayton, CEO of Ingenious Investments talks to AllAboutAlpha about investing in media and entertainment. Their portfolio includes films such as Avatar, Rise of the Planet of the Apes, X-Men: First Class and TV productions such as Law and Order UK, Monroe and Foyle's War.
Vikas Shah speaks to Nicholas Economides about the Greek opportunity.
What we can learn from the one-in-a-million-year event that wiped trillions from the global economy
AllAboutAlpha talks to Jalak Jobanputra, MD at RTP Ventures on the mobile payments market, which is set transact over US$1 trillion by 2016.
A deeper look at alternatives with Dr. Bob Swarup, a world-renowned expert and commentator on alternatives and financial markets as well as being a visiting fellow at London School of Economics.
AllAboutAlpha talks to Market Wizards' Jack Schwager about what makes a great trader.
Charles Skorina discusses what it takes to be a CIO with Sam Gallo.
New columnist Charles Skorina interviews Peter Stein, veteran alternative investments professional.
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 […]
Israel is now second only to the United States in terms of venture capital funds, with the highest rate of start-up businesses per capita and also the highest ratio of university degrees to population anywhere in the world.
Although distressed“fire sales” are fewer in some periods than in others, it is true all around the business cycle that mutual fund managers face constraints related to the need “to cater to investors by investing in the hot stocks and by having a strong positive correlation between their flow and the value of the assets in which they invest,” as a new academic paper explains. Hedge funds, with their more professional investors, their deliberate opacity, and their constraints upon withdrawal, aren’t subject to those constraints. Thus, when mutual funds are constrained to follow a trend, hedge funds are in a position to be contrarians.
AllAboutAlpha catches up with Lauren Templeton, great niece of Sir John Templeton to discuss value investing and its alpha potential.
"We're seeing a cycle where China is now a leader, and experiences the biggest rates of marginal growth in the world. That is already a game-changer which has had a disproportionate impact on emerging markets than developed ones."--Louis-Vincent Gave
In September 2011 the IMF estimated that roughly half of the Euro Zone's $9 trillion in outstanding government debt was now at 'heightened credit risk'. This is a crisis which billionaire investor George Soros has described as, "...a more dangerous situation now than in 2008.
Alpha is often found in the company of those investors who are earliest in seeing the first hints of future events unfolding. Topsy is a new source of that capability.
AAA sat down with Alex Gurvich and Jim Mitchell, both of The Rockledge Group, an investment advisory firm headquartered in Brooklyn, New York. We began by discussing the mid-January launch of a new product that gives the long-short equity strategy an ETF format, and ended up talking about a good deal else, such as the inherent superiority of ETFs over mutual funds, and Pimco's recent recognition of that fact.
Alpha Hunter Khiem Do talks about Asia and where the alpha is from his perspective.
Google, Apple, eBay and Amazon have a combined market capitalization of almost double the top five world retailers combined. We investigate the alpha opportunities with these dot-com giants.