I have just now ended a conversation with a long-time client and Limited Partner (LP) of our Fortune’s Favor I, LP, (FFI) fund. As I hang up the phone I begin to write. Our healthy dialogue crystallized some thoughts that demand sharing. To begin, a review of the investment strategy that guides FFI may be in order. You may witness our approach in its […]
A maelstrom of misinterpretation dominates the financial media outlets today in regards to last night’s Fed action. Click here for my audio post on the recent decision by the Fed to increase the discount rate. After listening to the above post, Gary Rosenthal had the following comments on the Fed move: 1) Federal Reserve banks currently have a record high of $1.14 Trillion […]
Hedgebay Trading Corporation has launched a new monthly index that will give the hedge fund industry a detailed insight into the average discount or premium to NAV that investors are paying for assets that have no contractual redemption rights to investors, such as “side-pockets” or for hedge funds that have suspended redemptions. The Hedgebay Global Illiquid Asset Index (“IAI”), is […]
The following story represents perhaps the largest obstacle facing equity market integrity today. The previous statement is not hyperbole. The collapse of equity prices in 2008 was presaged by a python-like constriction of credit. If the private sector cannot access credit then business grinds to a halt and as we saw in 2008 economic cataclysm ensues… Credit markets flash hottest […]
Euro zone gives Greece 30 days to show good on deficit – Reuters The tsunami of Greek fear begins to ebb and like proverbial clockwork the US$ drops almost 1%, the equity markets rally over 1% and Gold runs back above the $1100 level up over 1.5%. By now, as readers of this blog, the financial market behavior described above […]
Global hedge fund industry association, AIMA, has warned that a provision of the Alternative Investment Fund Managers (AIFM) Directive that is currently being debated in Brussels is protectionist. AIMA’s expression of concern comes after the publication of the most recent AIFM Directive compromise text by the current Presidency of the European Council, Spain. The new text is being debated by […]
Turn off the TV and forget about the newspaper. If you want to understand the equity market gyrations of the last couple of weeks simply log on to an internet service like Briefing.com and watch for updates to the sovereign debt crisis. Today’s trading is a perfect example of this new paradigm. The Greek tragedy has turned into a farce […]
I recently finished Michael Mauboussin’s new book entitled “Think Twice” which expands on many of the topics of “More Than You Know” but is geared a bit more towards a general audience and less directly at institutional investors. Mauboussin’s goals are not dissimilar from those of Alpha Theory. We both strive to help people appreciate the common and avoidable mistakes […]
Carbon360 has published the results of a survey they conducted over the past month entitled Capital Introduction Trends in 2010. Daniel Golyanov authored the report and asked for industry professionals to provide thoughts on future of the industry including which strategies would be popular in the near term future, where investors are based, and the evolution of the industry in the […]
World Finance Exchanges & Brokers Awards 2010
London – The World Finance Exchanges and Brokers awards recognise the results of the top performing Brokers by region. Congratulations to the winners, a selection are listed. Western Europe Online Broker of the Year: DIF Broker (Portugal) Discretionary Brokerage of the Year: Investment Bank of Greece (Greece) Small Cap Broker of the Year: Neonet AB (Sweden) Eastern Europe Online Broker […]