Just a quick technical commentary today, because absolutely nothing about my outlook has changed...
Despite on Monday having assumed bottom is near, but not yet in ... yesterday I presented a possibility suggesting bottom, indeed, has been reached. Appreciating the value of a contrarian's vision and not at all worried about what another 300,000 Americans put out of work will mean for immediate
Hedge Fund StatisticsVideo Interview on Closures & RedemptionsHere is a short interview with a Yale professor who is an expert on hedge funds. He estimates that the industry will shrink by another 25% next year due to poor markets, volatility and low liquidity across many asset classes. He also discusses hedge fund redemption rates and how many institutions need to raise cash and many have los
Questions on Hedge FundsAudio Clip on Hedge Funds() Many questions about hedge funds revolve around their definition, the scope of their investments and whether private corporations or real estate groups could ever possibly access capital from hedge fund managers. Last night I found a short audio file which clearly explains what a hedge fund is.To listen to this audio file please click here now.B
Hedge Fund ContactsHedge Fund Industry Contacts | A DirectoryThe list below was put together from HedgeFundBlogger.com's directory of hedge fund service providers. If you are a hedge fund startup or established hedge fund manager looking for additional industry contacts these individuals might be able to help you build your business.Disclaimer: These firms are listed below because they cater to t
There recently was a hedge fund formed to invest in guitars... and no, I'm not joking. Taken from the IG Blog,"Anchorage Capital, a London investment firm, is expected to launch the Guitar Fund. Set up as a hedge fund, the Guitar Fund will seek investment returns by buying rare and vintage electric and acoustic guitars (steel-string and classical), plus mandolins, banjos and amps. And get this, i
This is the 3rd Quarter 2008 edition of our ongoing hedge fund tracking series. Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here. We'll be bringing you the long equity portfolios of numerous prominent hedge funds. Hedge funds we track here at MarketFolly.com include: Tudor Investment Corp, Greenlight Capital, Blue Ridge Capital, Mo
Arguably, 2007 was the most important year for hedge funds in Asia since GFIA started researching the Asian hedge fund universe in 1998. First, it was clearly a good year for returns. The Asiahedge composite was up 9.2 per cent in US dollar terms, roughly twice Libor, while the more representative Asia ex-Japan and Asia including Japan indices were up by 24.6 and 21.1 per cent respectively. The
Once Jack chases Danny into the hedge maze. Danny manages to evade his father by walking backwards in his own snow tracks. Confused and lost Jack wails and screams as he wanders in the maze. Wendy and Danny manage to escape in Dick Hallorann's vehicle, while Jack slumps in the snow and freezes to death in the hedge maze. Do you really want go in-depth into Stanley Kubrick's The Shining? It's not
(Note: Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here).This is the 3rd Quarter 2008 edition of our ongoing hedge fund tracking series. We've already covered Whitney Tilson's T2 Partners, Peter Thiel's Clarium Capital, Bill Ackman's Pershing Square, and Stephen Mandel's Lone Pine Capital. Next up, we have Maverick Capital. Lee A
The letter below was sent a couple of days ago to the Prime Minister of Canada, Stephen Harper. I hope you will continue the crusade on this issue and send your own letter to the leader of your country:"Last month, I bought some blue-chip stocks at a bargain price. Like you said in the last election, “The stock market dive should be looked upon as a buying
(Note: Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here).This is the 3rd Quarter 2008 edition of our ongoing hedge fund tracking series. We'll be bringing you the long equity portfolios of numerous prominent hedge funds. Hedge funds we track here at MarketFolly.com include: Tudor Investment Corp, Maverick Capital, Greenlight Capital
By Dane MastersA landscaper who is devoted to their work is a true artist in their field. They know how to shape the raw materials which are provided to them by Mother Nature to create an image of beauty, serenity and vitality that can be enjoyed by men and women for years to come. Just like how an artist can't paint without a canvas and palette, a landscaper can't create magic without the approp
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“NEW YORK RESCUE WORKERS DETOXIFICATION PROJECT Ron Pollack was moved by the events of 9/11 and wanted to help. Prior to retiring from the hedge fund business, he became actively involved with the New York Rescue Workers Detoxification Project, whose purpose is to help the heroes of 9/11. During the...”
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(Note: Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here).This is the 3rd Quarter 2008 edition of our ongoing hedge fund tracking series. We'll be bringing you the long side of the portfolios of numerous prominent hedge funds. Hedge funds we track here at MarketFolly.com include: Tudor Investment Corp, Maverick Capital, Greenlight Ca
Julian Robertson, founder of legendary hedge fund Tiger Management, recently sat down on Bloomberg to discuss some of his recent buys that we covered here. In the interview, he talks about the markets in general, as well as his specific picks of Google (GOOG), Baidu (BIDU), Mastercard (MA), and Visa (V). Don't let his long picks fool you though. He mentions in the interview that he is pretty sh
If you missed it, we recently wrote about numerous prominent hedge fund managers going before Congress to give their testimony regarding hedge funds and the current market. Here are some of their testimonies via video, courtesy of the NYT.George Soros' Testimony (Soros Fund Management)Ken Griffin's Testimony (Citadel)James Simons (Renaissance Technologies)John Paulson (Paulson & Co)
(Note: Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here).Well, here we are again, right back in the swing of things. This is the 3rd Quarter 2008 edition of our ongoing hedge fund tracking series. We'll be bringing you the long side of the portfolios of numerous prominent hedge funds. Hedge funds we track here at MarketFolly.com
Hedge Fund ConnectionThe Hedge Fund Connection | Why They WorkMark Cuban recently published a post on what is currently wrong with how hedge funds operate. In short he believes that hedge funds are not setup to benefit investors because they are paid on an annual basis where as investors are looking for long term 3, 5 and 7 year returns. to read his full post please click here.Here is a quote fr
Testimony QuotesCongressional Hearing QuotesQuick Links: Hedge Fund Testimonial VideosHere are a series of quotes from yesterday's testimony.``We do not need greater regulation of hedge funds,'' said Kenneth Griffin, founder of Citadel Investment Group LLC in Chicago. ``We've not seen hedge funds as a focal point of the carnage.''Soros, founder of Soros Fund Management LLC, cautioned against ``ill
Congressional HearingsCongressional Hearings on Hedge Funds | VideoHere is a short video on hedge funds and potential regulation of them. For once it seems like the mainstream media is actually backing hedge funds here and the risks they have taken in the past. This is all related to the recent hearings in front of congress. I'm not sure that one of these four people knows much about hedge fund
Back when I was promoting my book ‘An American Hedge Fund‘ last last year, I wrote a little article detailing the creation of my hedge fund.
A few days ago, Richard Wilson, the...
Visit TimothySykes.com to read full article with comments
Got a few updates as to just how bad October was to some of our beloved hedge funds courtesy of Dealbreaker. Firstly, Blackrock's All-Cap energy hedge fund saw some rough waters last month."The ESTIMATED monthly and year-to-date (YTD) returns for The All-Cap Energy Hedge Fund as of 31 October 2008 were: October 2008: -34.75%* net YTD 2008: -54.0%* net"But, they emphasize that these a
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Stocks, Hedge Funds Forex. October 2008 WrapupAs we wait for indications that the bottoming process is working through, we had another bad week. The Dow fell 473 points over the week ended last Friday, more than erasing the 401 point gain the prior week. And international equity markets started out this week badly, with Hong Kong’s Hang Seng equity index down 12.6%, Japan’s NIKKEI 225 index do
Archaic corporate governing systems that failed to ferret out risky business deals helped stoke the nation's deepest financial meltdown since the Great Depression, a University of Illinois business law expert says. Law professor Larry E. Ribstein argues the traditional, corporate-run firms that dominate the nation's Fortune 500 are ill equipped to prevent dicey management decisions that have...
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Subscribe in a reader Subscribe by Email Hedge Fund Resources Hedge Fund Focus Home Service Providers Tutorials Communities Blogs Papers & Research Introductions & Guides Papers & Research People & Profiles Research Centres Hedge Fund Books: UK Hedge Fund Books: US General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law [Externalrss-FinanceFocus-titles-rssl-6-30] Resources.
By Nicole M. Boyson, Northeastern University - College of Business Administration Abstract: We study the impact that hedge fund family membership has on performance and market share. Hedge funds from small fund families outperform those from large families by a statistically significant 4.4% per year on a risk-adjusted basis. We investigate the possible causes for this outperformance, and find...
Bloomberg (October 23, 2008): Roubini Says `Panic' May Force Market Shutdown PrintShare Nouriel Roubini | Oct 23, 2008 Bloomberg October 23, 2008: Roubini Sees Crisis Worsening, Hurting Emerging Markets (click for video) nouriel10232008_250_01.jpg From Bloomberg: Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the
Managers in BostonHedge Fund Managers in Boston MALooking forward to the networking event tonight at the Boston Harbor Hotel. If you would like to be added to the email distribution list for future Boston events please email me at Richard@HedgeFundGroup.org.Here are details on this event: to Hedge Fund Managers in Boston MA | Event Tonight:Geographical Hedge Fund GuidesHedge Fund Employment Guid
Cayman Islands Hedge Fund GuideHedge Funds in the Cayman Islands() Here is a short collection of articles on the hedge fund industry in the Cayman Islands. I am always looking for more valuable online tools and resources to add to these geographical hedge fund guides. If you have a white paper or PowerPoint that I can include here please send me an email and I will post it for everyone's benefit.T
Bonanza Master Fund LPBonanza Master Fund LP | Notes() The following piece on Bonanaza Master Fund LP is being published as part of our Hedge Fund Tracker Tool, our daily effort to track hedge funds in the industry.The problem I have with the story below is it was found on HedgeFund.net as saying "Dallas Hedge Fund Traded Improperly, SEC said" You then read the story only to learn that the indivi
Hedge funds may cut as many as 10,000 jobs this year as they struggle with their biggest losses in almost two decades, according to estimates by executive search firm Options Group. The industry has already eliminated 3,000 to 5,000 jobs, out of an estimated 150,000 worldwide, Michael Karp, chief executive officer of the New York-based firm, said today in an interview. Layoffs may double by the...
Top PerformersTop Hedge Fund Performers() Just saw these interesting tables over at SeekingAlpha and thought some readers here might find them interesting:Listed Winners:Conquest Macro Fund LTDTulip Trend Fund LTDThe Clive FundBlueTrend Fund, LTDURSA Offshore LimitedTudor Tensor Fund LimitedWaterstone Market Neutral OS Fund, LTDPaulson Advantage Plus LTDHorseman Global Fund USDComac Global Macro F
Hedge Funds & Investment BanksHedge Funds | The New Investment BanksAre hedge funds the new investment banks? I think so. They will not take over all investment banking activities or all traditional banking activities but they are taking away market share from the investment banks within many arenas including private lending. I've seen a large increase of inquiries coming to me through my site
I think there are many traders out there who are trading on the basis that one day they can hang up their connection, put away the charts, clean out the account and set off for the sun. One hedge fund trader is doing just that and he has a few things to say before he goes.
Andrew Lahde, founder of California’s Lahde Capital, used his farewell letter to investors to round on the US “aristocrac
SAN FRANCISCO (MarketWatch) — Hedge funds saw a record $210 billion drop in assets under management during the third quarter as investors redeemed an unprecedented amount of money from the industry after poor performance, according to a survey released Friday.
“With losses continuing through October, it appears that 2008 will be the worst year on record [...]
Do hedge funds control the market?
Selling continues as the market starts to feel more like 1929 than 1987 with the wide spread panic instilled across the global markets. Although the loss of confidence in the financial markets is a component of the sell-off the real culprit may be the financial titans known as hedge funds. [...]
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PricewaterhouseCoopers has released its sixth annual global hedge fund whitepaper which reviews and summarises the regulation, taxation and distribution of hedge funds around the world. The paper titled, 'Operational Risk: an alternative challenge', considers that investor and regulatory pressure will cause the industry to be more transparent about its operational controls with investors. Graham..
The chairman of the Hedge Fund Standards Board on Wednesday voiced fears that financial regulators could be swayed into implementing potentially harmful legislation in the wake of the credit crisis. Antonio Borges is at the forefront of the hedge fund industry's drive to head-off increased regulation. The HFSB was set-up to develop a voluntary code of best-practice that would offer sufficient...
By Martos Rodrigo Dupleich Ulloa, Daniel Giamouridis (Cass Business School), Spyros Mesomeris, Nima Noorizadeh (Citigroup, Inc) Abstract This article is concerned with the systematic exposures of equity hedge fund managers. In particular we seek common equity hedge fund systematic exposures through rigorous model selection techniques. We study their time variance to examine if equity hedge fund...
Farallon CapitalFarallon Capital | Hedge Fund NotesThe following piece on Farallon Capital Managment Partners, LP is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.The firm’s website includes a section on investment strategies. The core strategy of Farallon is to invest in companie
Judith Gross, Esq., the principal of JG Advisory Services worked for Oppenheimer & Co. Inc. as a senior vice president in the Alternative Investments Group for over 9 years.
More from MoneyScience.
Lehman Brothers VictimsHedge Fund Victims of the BankruptcyThe following is a short and far from exhaustive list of hedge funds which were recently affected by Lehman Brother's bankruptcy.London-based MKM Longboat Capital Advisors LLP said last week it will close its $1.5 billion Multi-Strategy fund in part because of assets stuck at LehmanLehman Brothers Holdings Inc.'s bankruptcy probably means
Hedge Fund RegistrationHedge Fund Registration RequirementsHere is a commentary on the bailout, the financial crises and hedge funds and private equity. While I don't agree that hedge funds should have to register and I don't like to publish anything which discusses politics it is an interesting video none the less.If you are reading this post via my daily hedge fund newsletter please click here
Ok so Dow is up 400 points today and one might be tempted to forget the feeling of doom and gloom yesterday when it fell 778 points. But rest assured, the market has not bottomed. There is plenty of...
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A landscaper who is devoted to their work is a true artist in their field. They know how to shape the raw materials which are provided to them by Mother Nature to create an image of beauty, serenity and vitality that can be enjoyed by men and women for years to come.
Well, that's stating the fairly obvious, now isn't it? But, here are the cold hard facts. Hedge funds who we all adored for their dominating performance figures over the past few years are now struggling to stay positive on the year. It's no longer a question of "How much will we dominate this year?" But, instead, "Can we scrape by?"Case in point: We've already seen the closure of Ospraie's $3
(Note: Before reading this update, make sure you check out the preface to the series I'm doing on Hedge Fund 13F's here).Time to continue the Hedge Fund tracking series! If you've missed them, I've already covered Jeffrey Gendell's Tontine Partners here, Bret Barakett's Tremblant Capital here, Peter Thiel's Clarium Capital here, Stephen Mandel's Lone Pine Capital here, Lee Ainslie's Maverick Capit
To comply with new UK regulations, hedge funds are being forced to disclose financial short positions. Two very well known hedge funds whom we've covered a lot here on Market Folly have already disclosed their positions. Firstly, Blue Ridge Capital is ran by John Griffin, a 'Tiger Cubs' (a.k.a. pupil of Julian Robertson while at Tiger Management). Griffin is well known because he was Julian Robe
When I first started trading and heard about hedging I thought it was a great idea. Since then it has been a night mere on a few occasions until I stopped using that trading method. The only way I have been able to trade out of a hedge was when it was small, less than [...]
In a 13G filing with the SEC, Tremblant Capital Group on Tuesday disclosed they own 1,758,311 shares of PDGI - PharmaNet Development Group, (formerly SFBC International). This represents a 9.0% ownership stake in the company. A 13G filing indicates passive ownership. This is a brand new position, as it was nowhere to be found in their most recent 13F filing where they disclosed their complete
(Note: Before reading this update, make sure you check out the preface to the series I'm doing on Hedge Fund 13F's here).Time to continue the Hedge Fund tracking series! If you've missed them, I've already covered Jeffrey Gendell's Tontine Partners here, Bret Barakett's Tremblant Capital here, Peter Thiel's Clarium Capital here, Stephen Mandel's Lone Pine Capital here, Lee Ainslie's Maverick Capit
Nouriel Roubini this weekend talked about the next step of the crisis:"The next stage will be a run on thousands of highly leveraged hedge funds. After a brief lock-up period, investors in such funds can redeem their investments on a quarterly basis; thus a bank-like run on hedge funds is highly possible. Hundreds of smaller, younger funds that have taken excessive risks with high leverage and are
Here are a few articles detailing activity swirling around the Hedge Fund Industry at the moment.A Dark Mood Among Hedge Funds in London [NYTimes]SEC May Require Hedge Funds to Reveal Short Positions [Bloomberg]Regulators Try to Change Rules to Match the Need [NYTimes]Hedge Funds May Fund New Disclosure Rules Unpalatable [NYTimes Dealbook]Hedge Fund Equity Exposure (Long/Short) [The Big Picture]
I DON'T WANT TO WARSHE MY TOCKS! Get me OUT of HERE!(Will you please check out the 'tock curvature action there. HA!) Cocobuttr and Abigal the Hedge, What a fun, fun evening you had.
The U.S. Securities and Exchange Commission, seeking to jumpstart a hunt for suspected manipulation of financial stocks, will require hedge fund managers, brokerages and institutional investors to describe under oath their bets on the firms.
``Abusive short selling, market manipulation and false rumor mongering for profit by any entity cuts to the heart of investor confidence in our markets,'
You'll all be familiar with the Hans Christian Anderson's fairy tale about the Emperor's new clothes. Today I'm looking at the more recent fairy tale relating to contemporary art values - and I definitely see some parallels.
This is the second post on this theme this week (see Art values - gold standard or more derivative rubbish?) but the parallels just seemed to become more and more obvious
Subscribe in a reader Subscribe by Email Hedge Fund Resources Hedge Fund Focus Home Service Providers Tutorials Communities Blogs Papers & Research Introductions & Guides Papers & Research People & Profiles Research Centres Hedge Fund Books: UK Hedge Fund Books: US General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law [Externalrss-FinanceFocus-titles-rssl-6-30] Resources.
The Conference Board Working Group on Hedge Fund Activism has released its final recommendations for those corporations and institutional investors that may find themselves involved in an activism campaign mounted by hedge funds. The recommendations were formulated by a heterogeneous group of high-level corporate and investor representatives, instituted under the auspices of The Conference Board..
The global credit crisis and the collapse of Lehman Brothers have punished all manner of hedge funds. But in London, where a number have already been closed, the retreat has a particular resonance. Along with celebrity chefs, Russian oligarchs and Italian soccer coaches, hedge funds that established operations here in the last decade have been viewed as a mark of London’s new hip spirit
(Note: Before reading this update, make sure you check out the preface to the series I'm doing on Hedge Fund 13F's here).Time to continue the Hedge Fund tracking series! If you've missed them, I've already covered Jeffrey Gendell's Tontine Partners here, Bret Barakett's Tremblant Capital here, Peter Thiel's Clarium Capital here, Stephen Mandel's Lone Pine Capital here, Lee Ainslie's Maverick Capit
Pequot CapitalPequot Capital Management Hedge Fund NoteThe following piece on Pequot Capital Management is being published as part of our daily effort to track hedge fund events and managers in the industry. To review other hedge fund related announcements and manager notes please see our Hedge Fund Tracker Tool._____________________________________________________In 2004, Pequot expanded its uppe
Hedge Funds ExplainedHedge Funds Explained - Multiple ResourcesI often get emails asking about hedge funds, asking for explanations on what hedge funds do, how they earn returns for investors and how they differ from mutual funds. Below please find several resources which help explain what hedge funds are:A short video answering the question: What is a Hedge Fund?A short Hedge Funds FAQ on HedgeFu
Indonesia Hedge FundsGuide to Indonesia Hedge Fund InvestmentsHere is a short collection of articles on the hedge fund industry in Indonesia. I am always looking for more valuable online tools and resources to add to these geographical hedge fund guides to the hedge fund industry. If you have a white paper or PowerPoint that I can include here please send me an email and I will post it for everyon
By Nicolas P.B. Bollen and Robert E. Whaley Abstract Accurate appraisal of hedge fund performance must recognize the freedom with which managers shift asset classes, strategies, and leverage in response to changing market conditions and arbitrage opportunities. The standard measure of performance is the abnormal return defined by a hedge fund's exposure to risk factors. If exposures are assumed...
Future of Hedge FundsQ & A: Future of Hedge FundsReporter Question: With both hedge funds and the large investment banks providing prime services to them both failing what do you think the future of the hedge fund industry looks like?Answer: While times like this are painful for many investors and managers of hedge funds this type of "weeding out" is needed, at least some level for the hedge f
Brotman Capital ManagmentBrotman Capital Management Hedge FundWhile this story below notes that Brotman Capital Management was launched during the hedge fund industry's worst performance in over 10 years, it may be a great time to start a fund. Investors often place more weight on producing moderately positive returns during volatile market periods than they might on over performance through bulli
Subscribe in a reader Subscribe by Email Hedge Fund Resources Hedge Fund Focus Home Service Providers Tutorials Communities Blogs Papers & Research Introductions & Guides Papers & Research People & Profiles Research Centres Hedge Fund Books: UK Hedge Fund Books: US General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law [Externalrss-FinanceFocus-titles-rssl-6-30] Resources.
Ken Heebner, manager of the renowned CGM Focus Fund (CGMFX) and other mutual funds, is set to start a hedge fund. In a regulatory filing made in August, it was revealed that Heebner is starting a new firm, Wayfarer Capital LP. So far, the fund has raised around $73 million, with Heebner targeting $5 billion for his new fund. Heebner employs a macro investment strategy, trying to capitalize on e
Roger Ehrenberg is out with a thought provoking piece over on his site, Information Arbitrage. In it, he discusses the tough times facing hedge funds and the simple root of the cause. Here's an excerpt:"Many recent mega-losses aren't the case of simply taking the long view and getting stung by short-term volatility; this is getting carried out because of either too much leverage (the most preval
Getting tons of news today so will get right to the point:"Clarium Capital Management LLC, the $7 billion hedge-fund firm founded by Peter Thiel, fell about 13 percent in August, its biggest monthly loss, as it bet against the U.S. dollar.""Before August, Clarium's biggest monthly loss was in March 2004 when it fell 11.4 percent, according to an investor letter."You'll recall I covered Clarium in
Ahh, the endless cycle of hedge fund start-ups and failures. In contrast to my post earlier post about The Ospraie Fund blowing up here, I bring you news of a new fund emerging onto the scene. Ken Griffin's Citadel Investment Group is set to roll out their latest hedge fund, a $1 billion Global Macro Fund (pending funding, of course). Kaveh Alamouti, former employee of Macro giant Louis Bacon's
