Monthly Archives: February 2018
Morgan Stanley: ‘One Last Surge Of Euphoria’ Will Take Market Up More Than 10% From Here
(CNBC) Michael Wilson, chief U.S. equity strategist at the firm, said in a note Monday that the S&P 500 could reach his “bull case” target of 3,000 “by the middle of the year as investors bid up P/Es toward 18.5x […]
Drug Company Innoviva Settles With Activist Hedge Fund Sarissa
(Reuters) U.S. respiratory drug company Innoviva Inc has reached a settlement with activist hedge fund Sarissa Capital Management LP to replace its board of directors and remove the threat of a new proxy contest, people familiar with the matter said…. […]
PM Liquidates Positions In Vol Fund That Fell 80%
(Citywire) The manager of a volatility fund that fell over 80% last week has liquidated all open positions in the strategy, which now sits in cash.The LJM Preservation & Growth fund hit headlines last week after it fell over 50% […]
As Volatility Spikes, Watch the Economy, Not the Market
(Harvest) The tremors that have battered financial markets recently have been nerve-wracking. But remember, the market is not the economy. Economic growth can persist even when markets decline, and that growth can eventually help to stop the slide. To read […]
An Olympian’s Guide to the Market Selloff: Seeking Rewards In High-Risk Situations
(Harvest) Today I’d like to share a few words about the Olympics, but first, two words: Don’t panic. The stock selloffs last Monday and Thursday were the two biggest daily point drops in the history of the Dow Jones Industrial […]
SBAI Sees Growing Interest In China
(Alpha-Week) The Standards Board for Alternative Investments (SBAI), previously the Hedge Fund Standards Board, has, since it was founded in 2008, been pushing the international alternative investment industry to commit to high standards and adopt a more transparent approach to […]
Allocators push back on risk parity criticisms, fund size at CAIS
(Opalesque) Market commentators have been quick to blame “the machines” as a reason for the market’s recent sell-off, prompting a harsh rebuttal from AQR’s Cliff Asness earlier this week. Where Asness and others were effectively defending their books as much […]
Deutsche Bank to Repay Misled Customers
(HedgeCo.Net) The Securities and Exchange Commission today instituted an enforcement action against Deutsche Bank Securities Inc., which has agreed to repay more than $3.7 million to customers, which includes $1.48 million that was ordered as disgorgement. The SEC’s investigation found […]
Hedge Funds’ Biggest Short in Bonds Faces Make-or-Break Moment
(Bloomberg) Hedge funds and other large speculators are more convinced than ever that the 2018 bond-market rout will resume in the days ahead. The group, known for trading on momentum, boosted short bets in 10-year Treasury futures to a record […]
Data Overload: Commodity Hedge Funds Close As Computers Dominate
(Reuters) “Chocfinger” made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel. Ward blames the rise of computer-driven funds and […]
XIV Is Just the Tip of the Iceberg for This Hedge Fund Investor
(Bloomberg) After one of its best months ever in January, February got hairy for this hedge fund picker. RPM Risk & Portfolio Management, which manages funds of hedge funds, had a return of 13 percent in January for its Evolving […]
When Will It End? Bloodied Traders Seeking Clues
(Bloomberg) When will it finally stop? After a jarring week that rattled financial centers from New York to Hong Kong, and wiped out almost $5 trillion from stock markets, it’s the question everyone is trying to figure out…. To read […]