I was discussing portfolio management strategy with a client who runs a long/short equity hedge fund. In his former life, he worked for a large Fund of Funds where he evaluated long/short equity mangers. In that role, he frequently referenced an article on Risk Management by Ed Seykota. He had increasingly become frustrated with traditional manager measurement techniques like VaR, […]
Investment Themes Investment themes are the building blocks of any successful portfolio. The themes are created by innovation or paradigmatic shifts in perception that over time drive the herd in a new direction. Our job as portfolio managers is to constantly scour the investment world to discover these themes, track these themes and eventually profit from these themes. To that […]
This is a re-post of the original article from Evan Rapoport’s Capital Introduction Blog I often hear the terms Capital Introduction and Third Party Marketing used interchangeably. They actually however, represent two different services within the hedge fund asset gathering space. Capital Introduction is a service usually provided by hedge fund prime brokers. The biggest teams coming from the largest […]
Richard H. Baker, President and CEO of the Managed Funds Association (MFA) wrote a letter to MFA members this afternoon, highlighting today’s announcement by the Obama Administration requiring all advisers to hedge funds and other private pools of capital, including private equity and venture capital funds, to register with the Securities and Exchange Commission (SEC). Baker highlights how the Administration’s […]
In today’s article: “Taleb offers a universal solution to our ills” (Published July 14, 2009 at 10:46 AM “THE DEAL”) Prof. Taleb, author of “The Black Swan,” a book about the likelihood of outlier events otherwise believed to be improbable, profers a solution to the current debt and liquidity malaise. He says to make a mandatory conversion of all public […]
RCM Comment: I am loath to bore you with the same story over and over but the story’s far reaching ramifications demand that we cover this story like the wet blanket it represents. You see, there is a fire raging in the U.S.. Our government is burning paper (US$s) at an alarming clip as it spends aggressively to avoid the […]
– If you don’t read the newspaper you are uninformed, if you do read the newspaper you are misinformed. –Mark Twain RCM Comment: The story below illustrates what happens all too often when government oversteps its mandate and attempts to manipulate the private sector. For those of you who approve of big government read this story very closely. Please understand […]
News that Moves Markets with RCM Editorial On Monday I revealed long term trends that, as I said, must be respected. However, today I wish to offer a thought that may help those who wish to trade on a shorter time frame. Government manipulation, with the help of big investment banks, has turned shorter term decision making into a sort […]
News That Moves Markets Good morning readers, this is your Monday wake up call. The US$ is under attack and the budget deficit will continue to expand like the blackhole it is regardless of congressional protestations surrounding fiscal discipline. Instead of wasting time arguing about the inevitable and fearing the fallout let’s position the portfolio to benefit: Short US […]
RCM Editorial While the mainstream media is busy rolling “green shoots” and smoking them, I thought I’d compose a post today to help you ‘JUST SAY NO.’ Ben “Helicopter” Bernanke and his side kick Tim “Pinocchio” Geithner (honestly, watch him speak, I swear his nose looks like it grows) have been dealing some pretty potent D.C. “trip shoots.” Of course, […]
News That Moves Markets RCM Comment: In a world seemingly full of bad news, during a news cycle full of Madoff, Iran and North Korea, I thought you could use a little lift. I thought you would appreciate a story where good triumphs over evil and where a constitution is protected from a despotic leader. Finally, the people of […]
BHA Q1 2009 Alternative Investor Report
Working with a group of 150 alternative investment managers, alternative investor research company, Brighton House Associates,(BHA) published its Quarterly Research Report highlighting insights and trends from this research that are most pertinent to industry professionals. In summary of the report, the markets continued their downward trend in Q1, but the ability of hedge fund managers and alternative investors to adapt […]