Global Capital: The Best, and Worst, of Times
| Jan 7th, 2007 | Filed under: Portable Alpha & Alpha/Beta Separation | By: Alpha Male |
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By: Tim Price, CIO, Global Strategies, UBP
Published: January 4, 2007
Tim Price lives at an intersection. Only his intersection doesn’t show up on Google Maps. As the CIO, Global Strategies for one of the world’s largest hedge fund & private equity investors, he has his finger on the pulse of the alpha-generation industry and on his clients’ growing demand for alpha. In other words, he lives at the intersection of supply and demand for alternative investments – an intersection that is becoming one of the busiest in the world.
As a result, his monthly commentaries can be thought of as a traffic report delivered from his own living room window. This month’s commentary illustrates how private equity is as fundamentally disruptive as hedge funds and ETFs.
Price contends that the global economic freight train is rolling down the tracks at full speed – “the best of times”. But certain sub-sectors of the asset management business are being tossed out the train’s window to reduce weight – “the worst of times” (for those sub-sectors at least):
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