Monthly Archives: August 2009
Investment Bank Programmers on the Most Wanted List
By now, I think most people have heard about the ex-Goldman software programmer who was arrested in July for allegedly stealing some of Goldman’s high-frequency trading software code. I am not a criminologist or legal expert, nor am I a software expert that could tell you if accidentally sending small pieces of the code while sending other software to […]
US$/S&P 500 Correlation, Dollar Cheaper to Borrow Than the Yen, AIG Momentum Discussed
As the graph above illustrates, a serious correlation between the US$ and the US equity markets has developed over the last 9+ years. This correlation is strong and for policy makers in Washington, rather disturbing. The relationship is as follows: If the US$ loses value the equity markets have rallied and if the US$ strengthens equity markets have sold off. […]
Hiring Slowly Picking Up at Hedge Fund Firms
While the debate rages on as to whether the economy is, indeed, displaying evidence of “green shoots,” numerous hedge fund firms appear to be taking matters into their own hands, repositioning themselves to benefit from any signs of improving investor sentiment. In particular, several firms have gone on recent hiring sprees in an attempt to lock in the best and […]
Courtesy of Obama ‘Change’ is a Baffling Word, Bernanke Reappointment, “Cure Rate” on Mortgages Plunging, Central Bankers Call for Continued Stimulus
The American people are receiving a true education from our president regarding the various uses of the baffling word that is ‘Change‘. First, during Obama’s campaign for presidency, we were led to believe that change meant ‘out with the old, in with the new’. Old representing all that was bad and new all that was good. Then, after obtaining the […]
Bill Ackman and the State of Activist Investing, Part II
Despite a series of ongoing challenges, a variety of environmental effects have recently swung in the activists’ favor. First, as mentioned in my previous blog post, stock prices have taken a tremendous hit over the past year. Yet while the news media tend to tout the market’s recent resurgence, in reality the S&P 500 still remains more than 25% below […]
Pension Funds Side with Hedge Funds over EU
Reuters reports British pension funds are joining the battle against European Union’s proposed regulations on the hedge fund and alternative investment universe. The National Association of Pension Funds (NAPF) and a director at Hermes, manager of the largest corporate scheme in Britain, said the rules could restrict investment choices and returns, further affecting the ability of pension funds to provide ample […]
Hedge Fund Industry Association Welcomes FSA’s European Directive Impact Assessment
The global hedge fund industry association, Alternative Investment Management Association, (AIMA) said in a statement that they welcome the impact assessment of the European Commission’s draft directive on Alternative Investment Fund Managers commissioned by the UK’s Financial Services Authority. The FSA has commissioned CRA International to undertake a CBA (cost benefit analysis) of the proposed directive. Some of the main […]
Top 50 Hedge Fund Rankings
West Palm Beach (HedgeCo.net) – The Hedge Fund Journal’s Funds of Hedge Funds GLOBAL50, produced in association with Newedge Prime Brokerage Group, reports that minus a few exceptions, funds were happy to participate in the survey and submitted their assets under management figures as at 30th June 2009, which goes some way to prove that funds are taking the issue […]