Hedge fund investors, hurry up and circle November 10, 2009 on your calendars! Late that Tuesday afternoon, HedgeCo will be holding one of its largest capital introduction conferences to date, in roundtable discussion format. Held at the famed US Trust Building in midtown Manhattan, the event will allow investors the opportunity to meet with a select group of hedge fund […]
Documentarian Michael Moore’s latest project, Capitalism: A Love Story aimed at highlighting a number of flaws concerning the economic system upon which our country is built. In his film, Moore infiltrates Wall Street and Washington D.C. to “explore the root causes of the global economic meltdown.” In one scene, he attempts to make a citizens arrest of the AIG […]
Gold breaks out to a new high up 2.4%, Silver up 4.36%, the equity markets are up over 1.5%, and the U.S.$ is down another .66%. The inflation trade is alive and well. I would like to begin with a quick comment on Nouriel. I have reprinted the essence of his most recent comments for your perusal: Nouriel Roubini appears […]
“The fundamental law of investing is the uncertainty of the future.” – Peter Bernstein, famed investor I am offered two bets. In bet number one, I am paid $150 for every heads and pay $100 for every tails. My risk-adjusted return is 25%. In bet number two, I’m presented with a bag of poker chips that are only black […]
In his new movie Capitalism: A Love Story, Michael Moore searches for someone to explain derivatives to him. Michael, here is an easy explanation for you. If you need me to explain it further, I would be happy to do so. All my best, Thomas J. Powell How Derivatives Helped Collapse the Economy The following is a fictional example. It […]
The economic news continues to be terrible. The knee jerk reaction; sell off the equity markets run into U.S. treasuries. This type of action would only make sense to the person who ran directly from his cabin into the galley on the Titanic and felt he had gained safety. Furthermore, this fatuous trade into T-bonds has place a brainless bid […]
It is now evident that this recession has uncovered a number of substantial flaws in our country’s financial industry. The now-exposed wounds became so complex that it took a meltdown of this size to identify them and it will take a long, sluggish recovery for them to heal. The majority of the flaws in our financial system hit individual […]
The British Virgin Islands Financial Services Commission this week announced a new electronic reporting system for filing annual fund returns, in a move which will facilitate its regulation and monitoring of the British Virgin Islands (“BVI”) funds industry while providing a significantly more efficient and secure environment for filing annual returns. The new electronic reporting system supports submissions by segregated […]
Hong Kong-based hedge funds of funds shop Infiniti Capital believes it has found a better way to quantitatively rank the risk adjusted returns of hedge funds than that used by traditional methods. The new ranking method, called the Infiniti Single Fund Analysis (SFA) score, is included as a risk adjusted performance measure (RAPM) in Infiniti’s recently launched Infiniti Analytics Suite […]
U.S.$ weakness of late has spurred a cacophony of comments around the world for a new reserve currency. Now the Fed is attempting to fight back. Over the last few days a number of Fed governors have made hawkish statements to bolster the U.S.$ (the fact that these comments were offered before, during and after the G20 summit is not […]