Browsing: Alternative Investments in Context

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Alternative Investments in Context

Jeff Diehl: The View from SuperReturn Japan 2018, Part II

Dec 6th, 2018 | Filed under: Newly Added, Private Equity, The A.I. Industry, Debt Types of Private Equity, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Alternative Investments in Context, Private Investments

On Dec. 6, in Tokyo, Japan, the SuperReturn Japan 2018 event concluded. CAIA was a sponsor of this event, which was billed as “the world’s gateway to Japanese private equity and venture capital.” This is the second part and conclusion of our interview with Jeff Diehl, managing director at AdamsRead More


Panayiotis Lambropoulos: The View from a Public Pension Manager’s Office

Nov 11th, 2018 | Filed under: Newly Added, Hedge Fund Operations and Risk Management, The A.I. Industry, Due Diligence Process, Institutional Investing, Alpha Hunters, Risk management, Asset allocation, Hedge Funds, Asset Allocation Models, Alternative Investments in Context, Institutional Asset Management, Risk Management Strategies & Processes, Risk Management & Operations, Allocating to A.I.

On Nov. 13, the 24th Annual National Pension and Institutional Investment Summit convenes in Dallas Texas. CAIA is a sponsor of this event. Panayiotis Lambropoulos, portfolio manager of hedge funds at the Employees Retirement System of Texas, will offer his insights at a panel on emerging hedge fund managers. Lambropoulos’Read More


Substance Over Form

Oct 1st, 2018 | Filed under: Newly Added, Investor Relations, Alternative Investments in Context, Sales & Marketing in the AI Industry

By Diane Harrison In the final months of 2018, a mid-term election year here in the U.S., rhetoric is forming and tempers are soaring as candidates try to create narratives that suit their political objectives. It calls to mind the phrase “form over substance,” where what is said often bearsRead More


The View from Las Vegas: Quiet Buying? Aggressive Buying?

Sep 23rd, 2018 | Filed under: Newly Added, The A.I. Industry, Emerging Alternative Investments, Emerging markets, Digital currencies, Commodities, Personalities in AI, Alternative Investments in Context, Commodities: Examples, Gold

On Sept. 24, the 9th Annual Inside Alternatives and Asset Allocation event convenes at Wynn Las Vegas, with CAIA sponsorship. The purpose of the event: to look beyond traditional alternative investments and strategies, to take the measure of a new breed of alternatives, including impact/SRIs, cryptocurrencies, and the application ofRead More


Ben Graham Conference at Fordham: Value Very Much Alive

Jul 2nd, 2018 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context, Risk Management & Operations

The fifth Ben Graham Annual Conference, the marquee event of the CFA Society New York, took place as scheduled on June 27, at Fordham University, Lincoln Center. As its name suggests, this conference is intended to promote, and to share ideas about the application of, the investment principles of BenjaminRead More


AIMA’s Vision Statement from Hedge Fund Industry Leaders

Apr 22nd, 2018 | Filed under: Newly Added, The A.I. Industry, Liquid Alternative Investiments, Hedge Funds, Alternative Investments in Context, Other Topics in A.I.

Some of the leading figures in the alt investment industry have put their dignified heads together and created a vision statement, called “Perspectives: Industry Leaders on the Future of the Hedge Fund Industry.” The gist of the paper is that firms in the industry are quickly adapting to contemporary conditionsRead More


Be Fearful When Everyone is Greedy

Apr 5th, 2018 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context, Institutional Asset Management, Allocating to A.I.

A new report from Context Capital Partners looks into trends in the alternative investments industry, both among institutions and family offices. It finds continued strong demand for alt investments, as well as a rising demand within the alt world for such emerging strategies as cryptocurrency investments and environmental, social, andRead More


Firms of the Near Future: Process and Product Innovators

Jan 21st, 2018 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context

Last summer the Boston Consulting Group put out a report on the global asset management industry, called “The Innovator’s Advantage.” The title was an allusion to a landmark 1997 book by Clayton Christensen, The Innovator’s Dilemma, which in turn was a forceful restatement of some old Schumpeterian ideas about theRead More


Institutional Investors Expect More Vol, Higher Interest Rates: But They Fear Not

Dec 17th, 2017 | Filed under: Newly Added, Consultants, The A.I. Industry, Alpha & Beta, Institutional Investing, Alternative Investments in Context, Institutional Asset Management, Allocating to A.I.

Natixis Investment Managers has released survey data on the mood of institutional investors around the world. Natixis, which has $961 billion in assets under management, polled the decision makers of 500 institutions that together represent more than $19 trillion of assets. Among the takeaways: investors expect more volatility, in bothRead More


Alternative Investments in Target Date Funds

Oct 3rd, 2017 | Filed under: Newly Added, The A.I. Industry, Asset allocation, Asset Allocation Models, Alternative Investments in Context

Vanguard, the manager of about 370 low cost traditional funds and ETFs, and an institution famously associated with low cost retail investing, has made public a new paper on the inclusion of alternative investments in target date funds. It isn’t enamored of the idea. Target date funds (TDFs), otherwise knownRead More


Investor Sentiment: Fees, Redemptions, Structures

Sep 4th, 2017 | Filed under: Newly Added, The A.I. Industry, Industry Size & Managers, Hedge Funds, Alternative Investments in Context, Structure of the Hedge Funds Industry

Credit Suisse, in its new report on its mid-year survey of hedge fund investor sentiment, says that there is “continued appetite to allocate to hedge funds” and that there is increased interest, especially, in quantitative strategies. Specifically, 81% of investors say that they will likely make allocations to hedge fundsRead More


Build Value: Don’t Just Meet Quarterly Targets!

Aug 15th, 2017 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context, Institutional Asset Management, Allocating to A.I.

FCLT Global, a new not-for-profit organization that seeks to promote long-term thinking in business and finance, has issued a manifesto, “Rising to the Challenge of Short-Termism.” The paper was written by Dominic Barton, Jonathan Bailer, and Joshua Zoffer. Each is affiliated with McKinsey & Company, which is one of theRead More


Networks, Modeling, and Funds of Funds

Aug 8th, 2017 | Filed under: Newly Added, The A.I. Industry, Financial Economics Theory, Alternative Investments in Context, Finance & Economics

Two scholars affiliated with FERI Trust, a leading investment manager of the German-speaking countries of Europe, have written a study of hedge fund strategies that uses a “network-based analysis” thereof. The two authors, Eduard Baitinger and Thomas Maier, argue that hedge fund strategies show “numerous network-based properties” which help explainRead More


Hedge Funds in the United Kingdom

Jul 27th, 2017 | Filed under: Newly Added, The A.I. Industry, Industry Size & Managers, Alternative Investments in Context

Just prior to the June 8 election in the UK this year, Preqin took a look at the state of the hedge fund industry there. Interest in this subject matter is high for the alternative industry globally, given London’s centrality and the great deal that is riding on how theRead More


Skin in the Game: Testing a Cliché

Jul 16th, 2017 | Filed under: Newly Added, Industry Size & Managers, Asset Managers, Hedge Funds, Alternative Investments in Context

One of the most well-worn clichés in the hedge fund industry is the phrase “skin in the game.” Investors want managers who have “skin in the game,” that is, managers who risk/hedge their own money the same way they are risking/investing their outside investors’ money. A recent paper by ArpitRead More


Growth and Challenges for Asset Management in Italy

Jun 15th, 2017 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context, ETFs, Allocating to A.I.

A recent (May 2017) Deloitte white paper discussed asset management in Italy. The paper begins with the observation that key institutions in Italian finance have a relatively short history: going no further back than the mists of the 1990s. The Società di Intermediazione Mobiliare (SIM) – literally, the phrase meansRead More


Mega-Trends and Possible Future Normals

Apr 16th, 2017 | Filed under: Newly Added, The A.I. Industry, Alternative Investments in Context

A new CFA Institute report, working from a survey of 1,145 leaders in the contemporary global investment industry, discusses the mega-trends at work, including: technological advance, shifting client preferences, new macroeconomic conditions, changing regulatory regimes amidst geopolitical novelties, and new demographics. The report, entitled “Future State of the Investment Profession:Read More


Pitfalls and Publicly Owned Hedge Fund Managers

Jan 31st, 2017 | Filed under: Newly Added, The A.I. Industry, Hedge Funds, Alternative Investments in Context

Two scholars affiliated with Singapore Management University have published a study of “the pitfalls of going public,” that is, of what can happen when the management of a hedge fund becomes a publicly owned company. They conclude that the going-public process itself breaks the alignment of incentives between managers andRead More


McKinsey: Historically Anomalous Period Nears an End

Nov 6th, 2016 | Filed under: Newly Added, Infrastructure, The A.I. Industry, Operationally Intensive Real Assets, Alternative Investments in Context, Real Assets

McKinsey & Co. has posted a new report assessing the state and the future of the North American asset management industry, encompassing both active and passive managers and looking at five mega-trends. Skipping to the chase, the trends are these: The end of an anomalous eta of “exceptional investment returns.”Read More


New Paper Tackles Basic Questions About Alternative Investments

Aug 11th, 2016 | Filed under: Newly Added, The A.I. Industry, Asset allocation, Asset Allocation Models, Alternative Investments in Context, Allocating to A.I.

RCM Alternatives, a Chicago-based asset manager specializing in managed futures products, has published a new white paper asking the naive-seeming question, “Why Alternatives?” The paper begins with the observation that many alternative investors look to this field for an answer to a specific problem:  hedging the long position in equitiesRead More


New AIMA Guide: 7 Themes for Investor Relations Professionals

Jun 23rd, 2016 | Filed under: Newly Added, Investor Relations, The A.I. Industry, Industry Size & Managers, Alternative Investments in Context, Sales & Marketing in the AI Industry

In October 2015, a scholar at the University of Toronto wrote a paper on what he called the “paranoid style of investment lawyers and arbitrators,” bemoaning an increasingly shrill and belligerent tone in the investment world of late. If there is such paranoia, one probable contributor, and one possible consequenceRead More


Millionaires’ Outlook: Still in Positive Numbers

Nov 12th, 2015 | Filed under: Alternative Investments in Context, Business News

Two indexes of confidence, one for millionaires, the other for not-quite millionaires, have returned to the level at which they stood in June of this year, after a summer rise and autumnal fall. A discussion of the arc. Read More


Hedge Funds in a Time of Weakening Recovery

Oct 27th, 2015 | Filed under: The Global Economy & Currencies, Alternative Investments in Context, Finance & Economics

Though the recovery is showing signs of its age and weakness, this is still not the day for which tail-risk funds were designed, the moment of 'extreme distress' and victorious black swans. Thank heavens for that fact, and thank Eurekahedge for the news. Read More


The Ups & Downs of Alternative Investing.

Oct 12th, 2015 | Filed under: Media Coverage of Hedge Funds, Alternative Investments in Context

It's that time of year when investment advisers are talking about asset allocation. Guest columnist Diane Harrison explains why you should never give up on your alternative investments.Read More


Cause and Effect: Or, Shooting the Messenger

Aug 27th, 2015 | Filed under: Media Coverage of Hedge Funds, Behavioral finance

Not even Schrodinger blamed the reporters for market irrationality. Saying out loud, "Hey, this cat is dead," doesn't kill the cat. Read More


Hedge Fund Assets to Increase a Quarter Trillion Dollars by Summer of 2016

Aug 19th, 2015 | Filed under: Hedge Fund Industry Trends, Media Coverage of Hedge Funds, Hedge Fund Strategies, Institutional Investing

Guest columnist Don Steinbrugge on why hedge fund AUM is set for an increase over the course of the next 12 months.Read More


Delivering Alpha Highlights: Part One

Jul 19th, 2015 | Filed under: Media Coverage of Hedge Funds, Currencies, Alpha Hunters, Alpha Strategies, Alpha Seekers, ETFs

Larry Fink is "deeply worried" that the combination of share repo with high-yield debt is "one of the reasons why we have a below trend-line economy. We're not investing in the future as much as we should." Carl Icahn, predictably, has a very different view of what ails us. Read More


Vindication for Pirrong and Irwin: Why Are Trafigura’s Profits Up?

Jun 22nd, 2015 | Filed under: Media Coverage of Hedge Funds, Commodities, Derivatives, Indexes

Trafigura has done quite well from the decline in crude oil prices in recent months. So well, in fact, as to throw a harsh light on a story that appeared in The New York Times in December 2013. Read More


Activism: Why the Short-termers Can Be Right

Jun 15th, 2015 | Filed under: Media Coverage of Hedge Funds, Hedge Fund Strategies

Much of the ubiquitous talk of the short-sightedness of nasty activist investors or traders is simply confused, analytically sloppy. It is a sort of confusion likely to have negative consequences to the extent that investors/traders themselves come to take it seriously. Read More


One Decision, Two Courts, Three Nations, Four Angles

Jun 3rd, 2015 | Filed under: Media Coverage of Hedge Funds, Alpha Hunters, Insolvency, Alpha Seekers

Faille is struck by a brief passage in the recent Nortel decision (the Delaware side of the Delaware/Ontario concord over allocation) that suggests the degree to which the United States dominates the patent-granting as well as the patent-litigating world. Like what the U.K. is for defamation.... Read More


What Happens When You Pick A Fight With Activist Hedge Funds

May 12th, 2015 | Filed under: Media Coverage of Hedge Funds, Hedge Fund Strategies, Alpha Strategies

The tear-jerker ending to a famous Broadway musical comes to Faille's mind as he contemplates the latest twist in the struggle over DuPont's board. Read More


Does the hedge fund industry benefit society?

Mar 30th, 2015 | Filed under: Hedge Fund Industry Trends, Media Coverage of Hedge Funds, Hedge Fund Strategies, Alpha Hunters, Alpha Strategies

Guest columnist Donald Steinbrugge, CFA, looks at the bad rap hedge funds have gotten and talks about why it's not deserved.Read More


Yes, Speech is Free for Short Sellers, Too

Dec 23rd, 2014 | Filed under: Media Coverage of Hedge Funds, Hedge Fund Strategies, Legislation/Court rulings

The success of Wynn's lawsuit would have chilled free speech by short sellers. So let us take a moment to celebrate its quick demise at the hands of Judge Orrick. As a general rule, though, when a plaintiff quotes an expression from a transcript that, in fact, is immediately preceded by the word "not," and the plaintiff leaves the "not" out of the quote ... things are knotty. Read More


Thoughts about Latest Insider-Trading Scandal

Oct 30th, 2014 | Filed under: Media Coverage of Hedge Funds

The story on the front page of The Wall Street Journal, about the Dendreon/Provenge investigations, focuses on trading in Dendreon stock over a three week period, beginning with the date of an e-mail sent out on June 7th, 2010. Read More


Terwilliger’s Legal Troubles: Give Mark Cuban a Cigar

Aug 7th, 2014 | Filed under: Media Coverage of Hedge Funds, Alpha Strategies, Regulatory

The great thing about short sellers has always been that -- if they're good -- it's because they have a keen nose that can smell a boiler room. If they are open about what they're doing, they can also serve as a valuable red light for others in connection with overblown enthusiasms. Don't be the bag holder. Read More


Why are Hedge Fund Assets Reaching All-time Highs?

May 12th, 2014 | Filed under: Performance, Analytics & Metrics, Media Coverage of Hedge Funds, Institutional Investing, Alpha Hunters, Asset allocation

Guest columnist Don Steinbrugge looks at why allocators continue to invest in hedge funds, even when the media thinks they shouldn't.Read More


The Mere Whisper of the Name ‘Soros’

May 15th, 2013 | Filed under: Media Coverage of Hedge Funds, Currencies, Forex

Facile parallels notwithstanding, neither the argument Druckenmiller made at Sohn nor any other good reasons that may now exist for shorting the Aussie have a lot to do with the case against the pound in 1992. That tug-of-war occurred in a unique context, not here replicated. Read More


Hedge Funds as Metaphor: And Not in a Good Way

Apr 22nd, 2013 | Filed under: Hedge Fund Industry Trends, Media Coverage of Hedge Funds

One take-away from David Stockman's new best selling book is that the phrase "hedge fund" may well be on its way beyond descriptive significance. In the public realm, a "hedge fund" is now as much a metaphor as is a "Trojan horse." It is becoming a metaphor for any institution's failure to hedge. Read More


Hedge Funds & the Global Economic Crisis: Willing Culprits or Easy Scapegoats?

Oct 11th, 2012 | Filed under: Media Coverage of Hedge Funds

“It was quite convenient to blame the Hedge Funds. They were an easy target, in that they were super-rich, a lot of them were American, and they were presented as bad people. They were blamed for what was happening to our banking system, which in reality was complete rubbish.”--Kate Walsh, Sunday Times, 2010.Read More


Old News (but still timely): Federal Common Law Torts Don’t Exist

Jul 6th, 2011 | Filed under: Hedge Fund Industry Trends, Media Coverage of Hedge Funds

One of the long-term trends that the hedge fund industry, and many others, face is the fact that the new media have unpredictable and sometimes unsettling consequences for many ways of doing business, including ways of finding alpha. The case of Barclays v. Fly on the Wall illustrates some of those consequences.Read More


Three split-strikes and you’re out

Feb 21st, 2011 | Filed under: Media Coverage of Hedge Funds

"Bernie" is back in the headlines, squawking from the jailhouse about how the banks and others should have seen his scheme for what it was - and actually may have. The broader question is whether suspicions about Madoff's bogus strategy would have made a difference.Read More


Study quantifies media biases regarding hedge funds and proposes way for hedge funds to exploit them

Jul 13th, 2010 | Filed under: Media Coverage of Hedge Funds

Hedge funds and the mass media have always had a love/hate relationship (with emphasis on the "hate" part). But it turns out that an analysis of media word choices - and the choices of words in funds' own press releases - may contain valuable information. Read More


Hedge funds: Not the juiced-up, ready-to-destroy-financial-markets types many believe

Jun 9th, 2010 | Filed under: Media Coverage of Hedge Funds

A new report on the challenges faced by the hedge fund industry reveals some somewhat positive news: that hedge funds weren't the renegade, levered up, ready-to-destroy-the-global-financial-markets types that many believed.Read More


Cold Snap: What’s a “frozen” hedge fund asset really worth?

Jan 3rd, 2010 | Filed under: Media Coverage of Hedge Funds, Hedge Fund Operations and Risk Management

The administrator in charge of distributing the frozen assets of Lehman Brothers Holdings Inc. announced last week that it had struck a deal to return some $11 billion to creditors. But how exactly are those assets being valued?Read More


Columnist argues hedge funds should be “regulated out of existence.” Time for a reality check.

May 21st, 2009 | Filed under: Media Coverage of Hedge Funds

Earlier this week a widely-read columnist provided a wonderful example of the challenges faced by those who wish to ban hedge funds - a lack of hard data.Read More


CDS Guilt Trip

Apr 1st, 2009 | Filed under: Media Coverage of Hedge Funds, Institutional Investing

Were Credit Default Swaps of symptom or a cause of AIG's downfall? Was AIG really a "hedge fund"? These questions and more are addressed in a new paper by the traffic cop in the "intersection of law and finance". Read More


More mystical dates

Feb 13th, 2009 | Filed under: Media Coverage of Hedge Funds

The so-called "D-Day" is here once again. With about 45 days left until the end of Q1, market watchers turn an eye toward hedge fund redemptions as a possible explanation for all that ails markets.Read More


Newsreel: Who’s writing these headlines?

Feb 11th, 2009 | Filed under: Media Coverage of Hedge Funds

When we read some hedge fund headlines, we are forced to ask ourselves a critical question: WTF? (that's "Whither the facts...") Read More


Ponzipalooza

Jan 11th, 2009 | Filed under: Media Coverage of Hedge Funds

Now everyone from pensions to governments to legitimate hedge funds are in the Ponzi game. Given this, we guess it shouldn't be that hard for the SEC to rack-up the score. Read More