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	<title>AllAboutAlpha: Hedge Fund Trends &#38; Alternative Investment Analysis</title>
	<link>http://allaboutalpha.com/blog</link>
	<description>A finance blog about hedge funds, portable alpha and alternative investing.</description>
	<lastBuildDate>Mon, 13 Feb 2012 00:22:46 +0000</lastBuildDate>
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	<item>
		<title>Video: Erik Knutzen of NEPC Speaks on the Role of Alternatives</title>
		<description><![CDATA[
From Lynne Feldman, Director of Marketing at the CAIA Association:
Introducing CAIA Conversations, a series of interviews with leading alternative investment experts that showcases current viewpoints on the alternative assets covered by the CAIA curriculum.
The series launches with Erik L. Knutzen, CAIA, CFA, Chief Investment Officer, NEPC, who comments on the changing role of alternatives strategies [...]]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/12/video-erik-knutzen-of-nepc-speaks-on-the-role-of-alternatives/</link>
			</item>
	<item>
		<title>Crumbled Portfolios Look to Rebuild with Infrastructure Investments</title>
		<description><![CDATA[Infrastructure is a perpetual investment, whether it's rebuilding old, existing underpinnings in developed markets or building the foundations that turn an emerging nation into a developing one. Preqin looks at this lesser known investment that underpins many alternative portfolios.]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/09/crumbled-portfolios-look-to-rebuild-with-infrastructure-investments/</link>
			</item>
	<item>
		<title>Private Equity: Sometimes you get what you need&#8230;</title>
		<description><![CDATA[2011 was the year private equity managers learned to accept that what they got even if it wasn't always quite what they wanted. Investors talk about what they want and need in 2012.]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/08/private-equity-sometimes-you-get-what-you-need/</link>
			</item>
	<item>
		<title>What Were They Thinking? From MF Global to Raj &amp; Bernie to LTCM&#8230;</title>
		<description><![CDATA[The right question is not what were they thinking, but what were they feeling? Get organized about detailing what feelings are being acted out and you’ve landed on the missing link in risk prediction.]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/07/what-were-they-thinking-from-mf-global-to-raj-bernie-to-ltcm/</link>
			</item>
	<item>
		<title>OTC Derivatives: Terrain Shifts to Favored Emerging Market Jurisdictions</title>
		<description><![CDATA[Emerging OTC derivatives in the emerging markets of Latin America and Asia are just one more sign that these countries are growing up.]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/06/otc-derivatives-terrain-shifts-to-favored-emerging-market-jurisdictions/</link>
			</item>
	<item>
		<title>Preqin: Real Estate Funds Turn to Debt Strategies</title>
		<description><![CDATA["Farhaz Miah, of Preqin, sets out the numbers for private real estate fundraising in 2011, showing that the market continues to suffer from the impact of the 2008 crisis. He notes, also, that debt strategies have become increasingly popular, both in specifically debt-strategy funds and in opportunistic funds that employ debt strategies as part of a broader structure."]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/05/preqin-real-estate-funds-turn-to-debt-strategies/</link>
			</item>
	<item>
		<title>Alpha Hunters: Bringing Long-Short Equity to the Masses</title>
		<description><![CDATA[AAA sat down with Alex Gurvich and Jim Mitchell, both of The Rockledge Group, an investment advisory firm headquartered in Brooklyn, New York. We began by discussing the mid-January launch of a new product that gives the long-short equity strategy an ETF format, and ended up talking about a good deal else, such as the inherent superiority of ETFs over mutual funds, and Pimco's recent recognition of that fact. ]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/02/alpha-hunters-bringing-long-short-equity-to-the-masses/</link>
			</item>
	<item>
		<title>ESMA and EDHEC on Indexes and Tracking Errors</title>
		<description><![CDATA[Since transaction costs and the illiquidity of certain portions of an index make ideal tracking impossible, there will be a difference between the return of a tracking ETF, such as those tracking ETFs that are structured as UCITS in Europe, and the return of the underlying index or benchmark. The European Securities and Markets Authority maintains that investors should be informed of the factors that are likely to affect the size and the volatility of this difference. ]]></description>
		<link>http://allaboutalpha.com/blog/2012/02/01/esma-and-edhec-on-indexes-and-tracking-errors/</link>
			</item>
	<item>
		<title>Alpha Hunters: Viewing Asia from Top-Down and Bottom-Up</title>
		<description><![CDATA[Alpha Hunter Khiem Do talks about Asia and where the alpha is from his perspective.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/31/alpha-hunters-viewing-asia-from-top-down-and-bottom-up/</link>
			</item>
	<item>
		<title>Considering a Duty to Hedge</title>
		<description><![CDATA[
The Hartford (CT) CFA Society recently hosted a workshop on “Pension Risk Management and Governance.” The discussion proved to be mostly, though not exclusively, about ERISA and about how plan sponsors may arm themselves against the sorts of litigation it may inspire.
Moderator Martin Rosenburgh, who is both an attorney and a financial analyst, and currently [...]]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/30/considering-a-duty-to-hedge/</link>
			</item>
	<item>
		<title>CPI Isn&#8217;t Made Up</title>
		<description><![CDATA[
By John Brynjolfsson
A CPI critic recently suggested that Ben Bernanke thought CPI homeowner equivalent rent is a &#8220;made up&#8221; figure. Nothing could be further from the truth.
Over the years I&#8217;ve been impressed with the rigor of CPI, unimpressed with its critics, and unable to find a better measure of the cost of living. Outside the [...]]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/30/cpi-isnt-made-up/</link>
			</item>
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		<title>A Word of Caution on the Modified Distribution</title>
		<description><![CDATA[Peter Urbani looks at Cornish Fisher and modified VaR as a function of skewness.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/29/a-word-of-caution-on-the-modified-distribution/</link>
			</item>
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		<title>Do Hedge Funds Work?</title>
		<description><![CDATA["...If all the money that's ever been invested in hedge funds had been put in treasury bills instead, the results would have been twice as good..." This is the astonishing finding of Simon Lack in his book "The Hedge Fund Mirage".]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/26/do-hedge-funds-work/</link>
			</item>
	<item>
		<title>European PE Study: The Locusts May Not Be So Bad</title>
		<description><![CDATA[Two scholars affiliated with the Center for European Economic Research, drawing upon European data between 2000 and 2008, maintain that PE backed companies do not suffer from higher bankruptcy rates than their control group of comparable companies. Their paper also addresses the relationship between bankruptcy risk on the one hand and the syndicated (or, conversely, the stand-alone) nature of a PE deal. It finds no significant relationship.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/25/european-pe-study-the-locusts-may-not-be-so-bad/</link>
			</item>
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		<title>SEI: Hedge Funds May Draw the Lightning on Themselves</title>
		<description><![CDATA[The SEI asked institutional investors in hedge funds what was the number one reason for their inclusion of such funds in their portfolio. The most popular single choice was "absolute return." On the other hand, if you combine the numbers of the distinct answers that involve limiting the downside, then the percentage of respondents who gave some risk-management focused answer is 56 percent. As SEI says, this is "a marked cultural shift from the early days of hedge funds, when many investors focused on their potential to produce outsided returns." ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/24/sei-hedge-funds-may-draw-the-lightning-on-themselves/</link>
			</item>
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		<title>Infrastructure: High in hiearchy of investors&#8217; needs and hearts</title>
		<description><![CDATA[Infrastructure is a basic need for any country, no matter what size. However, investing in infrastructure funds has been scant since its peak in 2007. That may be about to change.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/23/infrastructure-high-in-hiearchy-of-investors-needs-and-hearts/</link>
			</item>
	<item>
		<title>Future of Asia’s Synthetic ETF Market May Lie With Singapore Regulators</title>
		<description><![CDATA[In Singapore, some of the synthetic ETFs involve considerably more exposure to uncollateralized counterparty risk than the 10 percent or less that UCITS would allow. Singapore has, for example, the iShares MSCI India tracker, which has a 20 to 25 percent exposure. But Celent sees a possibiliuty that laxity will prove a winning move vis-a-vis Hong Kong. ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/22/future-of-asia%e2%80%99s-synthetic-etf-market-may-lie-with-singapore-regulators/</link>
			</item>
	<item>
		<title>The Middle Markets in 2012:  Oh, to Be Investment Grade, Cash Rich, and In Love!</title>
		<description><![CDATA[In spite of what the media might have us believe, it isn't quite the end of the world as we know it, particularly as it applies to European private equity.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/19/the-middle-markets-in-2012-oh-to-be-investment-grade-cash-rich-and-in-love/</link>
			</item>
	<item>
		<title>AIMA Takes Aim at FTT Proposal</title>
		<description><![CDATA[AIMA, in a report sharply critical of the proposed European Union financial transaction tax, sets out the way in which the tax could burden businesses, and their consumers, to a degree far greater than the proponents contend. After all, any single product may pass through several stages between raw materials and final consumer, as there are several steps between farmer harvesting wheat and retail outlet, such as Tesco, selling pasta. Businesses at every stop along the way (farmers, wheat processers, pasta extruders) will naturally want to hedge their own operational risks in the financial markets, so the price of the finished product will reflect the repeated imposition of the FTT. ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/18/aima-takes-aim-at-ftt-proposal/</link>
			</item>
	<item>
		<title>Merlin on Investor Due Diligence: Counting By Threes</title>
		<description><![CDATA[First, an investor (according to a new white paper on due diligence from Merlin Securities) must decide what kind of strategy it is to which he wants exposure, and generate a list of managers who practice that strategy. Thereafter he can focus on each firm on that list looking at each of the three (qualitative) components of management, and subjecting his impressions to a variety of (quantitative) tests. Tripartite divisions seem to come into play a lot.  
 ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/17/merlin-on-investor-due-diligence-counting-by-threes/</link>
			</item>
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		<title>Going &#8216;A Few Rounds&#8217; North Of the Border</title>
		<description><![CDATA[It seems that Patrick Byrne is interested in using a lawsuit filed in Canada in October 2011 as an opportunity for contesting the substantive merits, that is, providing evidence that the conspiracy exists as described and that Nazerali’s part in it was accurately portrayed in the various webpages of Deep Capture (called “chapters” for some reason). That may well prove healthy.  ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/16/going-a-few-rounds-north-of-the-border/</link>
			</item>
	<item>
		<title>The State of Global Ultra-Wealth</title>
		<description><![CDATA[The fortunes of the world’s ultra high net worth (UHNW) individuals have surpassed $25 trillion.  This is an astonishing figure, made even more so when  contextualized against the value of the entire world's economic output (GDP) which, in 2010, was 'just' $63 trillion.  ]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/12/the-state-of-global-ultra-wealth/</link>
			</item>
	<item>
		<title>High-Frequency Trading Inspires a Formula</title>
		<description><![CDATA[Godfrey Cadogan's formula, linking high-frequency trading, bubbles and crashes all into one formula of extreme simplicity (or "parsimony" as Cadogan puts it) leaves our reporter wondering: does the rendering of facts as a formula make them clearer, or does it just create a misleading patina of precision? Emanuel Derman recently warned of the overly simple models of finance economists, and perhaps this is a new token of that type.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/11/high-frequency-trading-inspires-a-formula/</link>
			</item>
	<item>
		<title>Morgan Stanley PE Roundtable on Numbers, Culture, and Globalization</title>
		<description><![CDATA[A recent study, in which Steve Kaplan of the University of Chicago collaborated with Bob Harris of the University of Virginia and Tim Jenkinson of Oxford, addressed fund-level performance using data from Burgiss Group. Kaplan said this study indicates that “private equity has performed remarkably well.” In the period 1990 to 2008, a dollar in PE returned to investors 300 to 400 basis points a year more than a dollar in the equities of the S&#038;P 500, net of all fees. This, if accepted, still leaves the question of the relationship of PE funds/firms to one another. Are they all the same?]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/10/morgan-stanley-pe-roundtable-on-numbers-culture-and-globalization/</link>
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		<title>&#8216;Top Quartile&#8217; GPs – So How Is Top Quartile Private Equity Performance Determined?</title>
		<description><![CDATA[If every fund is number one, then no one is number one. Irina Zeltser examines performance rankings in private equity.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/09/top-quartile-gps-%e2%80%93-so-how-is-top-quartile-private-equity-performance-determined/</link>
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	<item>
		<title>IMF Economist: Leverage and Collateral Churning May be Good Things</title>
		<description><![CDATA[IMF economist Manmohan Singh, in a recent working paper for the IMF, makes a case that pledged collateral is a critical financial lubricant, and that since the collapse of Lehman in September 2008 there has been a significant and troubling decline in its supply. Certain measures intended by regulators to enhance financial stability may in fact undermine it, by worsening the supply/demand mismatch, in effect creating a grey market for this pledged collateral.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/08/imf-economist-leverage-and-collateral-churning-may-be-good-things/</link>
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		<title>Alpha Hunters: Generating Alpha From .Com Giants</title>
		<description><![CDATA[Google, Apple, eBay and Amazon have a combined market capitalization of almost double the top five world retailers combined.  We investigate the alpha opportunities with these dot-com giants.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/05/alpha-hunters-generating-alpha-from-com-giants/</link>
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		<title>Maw, My Alpha is Daid.  Kin You Go Git My Mojo Workin&#8217;?</title>
		<description><![CDATA[This is a column of non-sequential thoughts including but not limited to topics appearing on AllAboutAlpha emphasizing the heartbeat behind the statistics which add up to alpha (definition expanded by the author to suit their purpose).  When the relevance isn't apparent at first, lubricate with a bit of your favorite drink, herb or pharmaceutical, and things will make a lot more sense.  It's all good.

Doug Friedenberg ran a convertible arbitrage hedge fund in a previous century and learned first hand most of the mistakes asset managers can make.  In the current century, he works to finance small to mid-sized businesses with a particular specialty in cross-border trade and letters of credit, which sometimes involves emerging/frontier markets.  No word yet on plans for next century; maybe a posthumous autobiography.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/04/outside-some-box-somewhere/</link>
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		<title>Fragmentation of Markets Drives Computing Advances</title>
		<description><![CDATA[Celent says that both the IT world and the financial markets long assumed that the latter had to employ the former in a “batch mode.” A firm would process trades through the day, recording these in a data base. Then at the end of the day, programs that could manipulate this data in search of exploitable patterns would operate on the day’s results as a batch. That is the mode of operation that “has become increasingly obsolete.”]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/03/fragmentation-of-markets-drives-computing-advances/</link>
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		<title>Hedge Fund Weather Report for 2012: Mostly Cloudy</title>
		<description><![CDATA[The Mathema report is full of cautions, and indeed adopts a quite generally gloomy tone. The markets, it tells us, don’t lend any credence to the political fixes that have been offered for the eurozone and especially for its peripheral players. If the fixes did have credibility, then the PIIGS’ 10-year government benchmark yields would have been falling significantly of late vis-à-vis the 10 year German Bund yield. But there has been no such fall.]]></description>
		<link>http://allaboutalpha.com/blog/2012/01/02/hedge-fund-weather-report-for-2012-mostly-cloudy/</link>
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		<title>The Truth About Hedge Fund Risk</title>
		<description><![CDATA[Guest columnist Charles Hage looks at hedge fund risk and discusses the long and the short of it.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/29/the-truth-about-hedge-fund-risk/</link>
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		<title>EDHEC: How to Thrive in Asia’s Volatile Markets</title>
		<description><![CDATA[If the actual results of the Korea Composite Stock Price Institute fitted a normal distribution (a "Bell curve,") then the index would record a daily loss larger than 3 percent only once every 1,219 years. In fact, it records such a loss once every 2.3 years. To fit the extraordinary real-world volatility of KOSPI and many other Asian markets, institutional investors especially should consider structured equity products that explicitly target a level of volatility. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/28/edhec-how-to-thrive-in-asia%e2%80%99s-volatile-markets/</link>
			</item>
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		<title>McKinsey Report: Shock Absorber to Fail Us</title>
		<description><![CDATA[At present, 21 percent of the world’s wealth belongs in the developed economies, but by 2020 that figure will have risen to 30 percent, according to a new report.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/27/mckinsey-report-shock-absorber-to-fail-us/</link>
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		<title>Dynegy and Debates over Chapter 11</title>
		<description><![CDATA[Distressed debt strategies have long been bedeviled by the shifting and thus unpredictable nature of the law of avoidance, or fraudulent conveyance, in the U.S. Perhaps it is, as some have said, because the law was written for a simpler time, and an industrial rather than a post-industrial country.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/26/dynegy-and-debates-over-chapter-11/</link>
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		<title>A Holiday Bug in Your Ear</title>
		<description><![CDATA[Our holiday bug in your ear is an encouragement to practice the Golden Rule in the year to come. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/21/a-holiday-bug-in-your-ear/</link>
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	<item>
		<title>Not Just Another MF Global Hearing</title>
		<description><![CDATA[On Oct. 30, a Sunday, the Commodity Futures Trading Commission received a draft report from MF Global that for the first time showed a shortfall in the segregated funds, a deficit of $900 million. At this time, both MF Global and the CFTC were referring to this in anodyne terms as an “accounting error.”]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/20/not-just-another-mf-global-hearing/</link>
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		<title>Alpha Hunter Bandon Capital: Alpha for the Small Investor</title>
		<description><![CDATA[Bandon Capital's managing directors believe it is possible to generate alpha from unique non-market sources, and that they do so through their forecasts of domestic and overseas sovereign interest rates. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/19/alpha-hunter-bandon-capital-alpha-for-the-small-investor/</link>
			</item>
	<item>
		<title>Efforts to Shed Light on High Frequency Trading</title>
		<description><![CDATA[A recent meeting of an advisory group of the CFTC discussed the proper definition for high frequency trading, on the premise that only once a definition is in place can there be focused monitoring of the consequences of HFT. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/18/efforts-to-shed-light-on-high-frequency-trading/</link>
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		<title>Alpha Hunters: Investing in Global Development</title>
		<description><![CDATA[Root Capital since inception have provided $330 million in credit to 349 small and growing businesses in 30 countries, maintaining a 99% repayment rate from our borrowers and a 100% repayment rate to our investors. This year alone, they have supplied $120 million in credit to 250 businesses which represent (or aggregate) 220,000 small-scale producers.  That investment will (at a conservative estimate) benefit the lives of over 1.1 million people.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/15/alpha-hunters-investing-in-global-development/</link>
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		<title>10 Reasons Emerging Hedge Fund Managers Should Market Hard in 2012</title>
		<description><![CDATA[Fear has gripped investors since the crises of 2008 and 2009 and the pain keeps coming back with a resounding smack every time a news story breaks. However, investors are starting to move back into the markets and if emerging managers aren't in the game now, they aren't going to get to play.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/14/10-reasons-emerging-hedge-fund-managers-should-market-hard-in-2012/</link>
			</item>
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		<title>The Investor&#8217;s Climate Change Conundrum: Is It Worth Watching Your Hamptons Beach House Sink Beneath the Waves Just to Make a Few Bucks from Carbon Emitters?</title>
		<description><![CDATA[We report on a talk given by Dr. Keith Crane of the Rand Organization about renewable energy and climate change at a meeting of the FInancial Policy Council.  Dr. Crane showed that the cost differences between renewables and coal shrink when the costs of carbon emission controls are also counted. Subsequent research revealed possible reasons why the average person in the United States has a unique inability to accept climate science, in opposition to the conclusions of the U. S. Defense Department.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/13/the-investors-climate-change-conundrum-is-it-worth-washing-away-your-hamptons-beach-house-just-to-make-a-few-bucks-from-carbon-emitters/</link>
			</item>
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		<title>Currency: In and Out of Style</title>
		<description><![CDATA[Financial crises always turn up new risks – and new opportunities. Famously, George Soros bet against the Bank of England during a fiscally challenged time in the early 1990s and pocketed a billion and change for his troubles. Was that a spectacular guess in a geopolitical game of chicken, or was it true alpha? We don't know, because we don't have the data. Currencies didn't much matter then; they do now.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/12/currency-in-and-out-of-style/</link>
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		<title>What Good is Money? What Good is ‘Europe?’</title>
		<description><![CDATA[The European Debt crisis has been the epicenter of the most recent market earthquakes. Now that a resolution is on the table, the "What now?" question remains. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/11/what-good-is-money-what-good-is-%e2%80%98europe%e2%80%99/</link>
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		<title>From Refco to MF Global: Trust Unravels Quickly</title>
		<description><![CDATA[The Commodity Customer Coalition has now issued a white paper presenting its own view of the “background, impacts, and solutions to MF Global’s Demise.”]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/08/from-refco-to-mf-global-trust-unravels-quickly/</link>
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		<title>Reflections as Kugel Pleads Guilty in Madoff Fraud</title>
		<description><![CDATA[
We near the third anniversary of the day (December 10, 2008) when the two sons of Bernard Lawrence Madoff informed authorities that their father had just admitted to them that his asset management operation was “one big lie.” One of those sons, Mark Madoff, killed himself one year and one day later. The dimensions of [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/07/reflections-as-kugel-pleads-guilty-in-madoff-fraud/</link>
			</item>
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		<title>Pulse of Private Equity: PE Managers Cautious and Hiring</title>
		<description><![CDATA[EisnerAmper LLP's latest edition of “Pulse of Private Equity” finds that PE firms in the second half of 2011 are becoming “more sober about the potential for transactions,” compared to last year or earlier this year.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/06/pulse-of-private-equity-pe-managers-cautious-and-hiring/</link>
			</item>
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		<title>Does Inverted Pricing Work?</title>
		<description><![CDATA[Pragma studied the empirical relationship between the routing behavior of market participants and the fee structures of the venues through using publicly available trade and quantity (TAQ) data from June 2011....The hypothesis left standing is that the inverted fee structure acts as intended. "[W]hen there is a choice of where to take liquidity, the pecking order is clear and coincides with cost."  ]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/05/does-inverted-pricing-work/</link>
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		<title>&#8216;What Was That You Said&#8230;? Retail?&#8217; Just Call it ‘Convergence’</title>
		<description><![CDATA[A new study from SEI shows If an alternative strategy can be offered in a mutual fund structure it has a much broader market opportunity than if not. Hedge fund managers want the mutual fund market just as mutual fund managers want to use the broader hedge fund range of strategies.]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/04/what-was-that-you-said-retail-just-call-it-%e2%80%98convergence%e2%80%99/</link>
			</item>
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		<title>New Techniques to Manage Sovereign Credit Risk</title>
		<description><![CDATA["...by following and understanding the latest thinking in managing sovereign credit risk- portfolio and risk managers will not only be able to extract greater returns from their existing investments, but deliver greater protection for clients......"]]></description>
		<link>http://allaboutalpha.com/blog/2011/12/01/new-techniques-to-manage-sovereign-credit-risk/</link>
			</item>
	<item>
		<title>New Evidence for Humanity’s Irrelevance: Revenge of the Algos</title>
		<description><![CDATA[Could it be that truth is finally stranger than science fiction? The next battle of the quantitative trading strategies may offer some algorithmic features that look downright qualitative.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/30/new-evidence-for-humanity%e2%80%99s-irrelevance-revenge-of-the-algos/</link>
			</item>
	<item>
		<title>Mean Reversion and Momentum Both Unreliable in Asia</title>
		<description><![CDATA[Amongst equity long-short funds, which constitute about half of the Asian hedge fund universe, the returns of hedge funds “were sometimes mean reverting but at other times displayed persistence in positive/negative momentum.” That is to say that sometimes a coin that has come up heads three times will come up tails the fourth time, but at other times it will persist in coming up heads the fourth time.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/29/mean-reversion-and-momentum-both-unreliable-in-asia/</link>
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	<item>
		<title>The Trouble with Liquidity</title>
		<description><![CDATA[The true opportunities now lie in taking illiquidity. The panic – for there is no other word to describe this behaviour – today presents those who can afford to have a longer-term investment horizon with a unique time arbitrage.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/28/the-trouble-with-liquidity/</link>
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	<item>
		<title>Introducing the New 2-and-20 Index Funds</title>
		<description><![CDATA[Equity hedge fund performance has resembled the results of the S&#038;P Index lately.  We speculate that regression to the mean is because humans are involved, and find reasons to be cheerful for the group's future.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/27/introducing-the-new-2-and-20-index-funds/</link>
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	<item>
		<title>&#8216;Turtles—Turtles—Turtles All the Way Down&#8217;</title>
		<description><![CDATA[
By John Brynjolfsson, CIO Armored Wolf
As markets reel in the wake of the failed German Bund auction that occurred earlier this week, our beliefs regarding financial security are rightly shaken down to their very foundation, and below!
After all, 10-Year government bonds, at least as introduced to students in business schools over the past 70 years, [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/25/turtles%e2%80%94turtles%e2%80%94turtles-all-the-way-down/</link>
			</item>
	<item>
		<title>MF Global Liquidation Presents Unprecedented Test of U.S. Bankruptcy Regime for Dually Registered Brokers</title>
		<description><![CDATA[
The  collapse of MF Global is proving significant for reasons other than its  being one of the ten largest bankruptcies in U.S. history, according to  attorneys at Teigland-Hunt LLP.   Liquidation of MF Global will require the unprecedented  application of two vastly different bankruptcy and customer asset  protection regimes that lack [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/23/mf-global-liquidation-presents-unprecedented-test-of-u-s-bankruptcy-regime-for-dually-registered-brokers/</link>
			</item>
	<item>
		<title>Hedge Funds with Asian Strategies Now Managed From … Asian Cities</title>
		<description><![CDATA[
The hedge fund industry that invests in Asia is increasingly run from within the region, especially from the two hub cities of Hong Kong and Singapore, according to an August 2011 report by Singapore based consult
In the early days of the Asian hedge fund industry, Asian strategies were quite generally run from outside of Asia [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/22/hedge-funds-with-asian-strategies-now-managed-from-%e2%80%a6-asian-cities/</link>
			</item>
	<item>
		<title>Asian Fund Distribution: Beyond UCITS</title>
		<description><![CDATA[
The world is a fairly small pond in which ripples anywhere soon shake the surface everywhere. Such an observation, like the word “globalization,” has become a cliché, but the truth behind them both becomes quite obvious in the course of a new “Viewpoint” paper by Ernst &#38; Young that examines fund distribution strategies in the [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/21/asian-fund-distribution-beyond-ucits/</link>
			</item>
	<item>
		<title>CAIA Corner: Walk Like an Endowment</title>
		<description><![CDATA[
The sixty largest US college endowments (those with over $1 billion in assets) once again have chart-topping performance. After suffering drawdowns and liquidity issues in 2008 and2009, these large endowments earned average returns of 12.2% in the fiscal year ending June 30, 2010, the latest period available, which beat the returns of smaller college endowments [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/21/caia-corner-walk-like-an-endowment/</link>
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	<item>
		<title>Idiosyncratic Risk Puzzle Solved: Not All Investors Are The Same</title>
		<description><![CDATA[Intuition (codified by many models) suggests that investors have to be bribed to accept risk, so that there ought to be a positive link for any given class of security between the amount of risk, and thus the measurement of volatility, on the one hand, and expected return on the other. A puzzle arises, then, from empirical research indicating that “idiosyncratic” volatility, that is, the volatility due to the characteristics of a specific security, is negatively correlated with return once one passes the mid-point of the range of volatility.  ]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/20/idiosyncratic-risk-puzzle-solved-not-all-investors-are-the-same/</link>
			</item>
	<item>
		<title>Occupy Wall Street (OWS), Social Networking, and the 1%:  Systemic Risk to Alpha Generators?</title>
		<description><![CDATA[We visit a Town Hall meeting to discuss the Occupy Wall Street group's use of social media. While there, we are reminded of the potential power of social media and its use to affect public opinion without spending gobs of money. We also learn reasons why the investment community should, at minimum, pay some attention.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/17/occupy-wall-street-ows-social-networking-and-the-1-systemic-risk-to-alpha-generators/</link>
			</item>
	<item>
		<title>How to Save the Futures Industry</title>
		<description><![CDATA[To say the MF Global situation is a mess may be the understatement of the century. How do we make sure that a futures investor regains confidence in the industry, and chooses to go ahead with that investment? The hollow emails by FCM presidents and owners to their clients saying they <em>care</em> is simply not enough; actual solutions and fixes to the problems which allowed the MF Global mess to happen need to be enacted.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/16/how-to-save-the-futures-industry/</link>
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	<item>
		<title>Someone Has To Cross The Spread</title>
		<description><![CDATA[Spread capture is a percentage of the bid-ask spread, so that if an algorithm always accepts the outstanding offer when buying – if it is always the one to cross -- it will capture 0 percent of the spread.  If a deal is concluded on its own bid determined through limit orders, on the other hand, it captures 100 percent of the spread. The spread capture metric is popular, the Pragma paper says, because it “reflects a widespread assumption that the higher the number the better the performance of the algorithm.”]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/15/someone-has-to-cross-the-spread/</link>
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	<item>
		<title>Angel Investors Return to the Very Beginning</title>
		<description><![CDATA[Angel investors are returning to provide seed-stage capital and job growth. slowly recovering after the financial crises of 2008 and 2009.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/14/investors-return-to-the-very-beginning/</link>
			</item>
	<item>
		<title>Two Views on the Banks</title>
		<description><![CDATA[In keeping with our mission to provide a marketplace of ideas, today's post presents two views of a paper that deals with the banking rules, which directly affect the core of the financial services industry and its future stability.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/13/two-views-on-the-banks/</link>
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	<item>
		<title>Who has the money? Show me the money! Give me the money!</title>
		<description><![CDATA[In spite of a difficult fundraising climate, there are some positive things about the current real estate investing environment. Like Scarlett O'Hara, institutional investors seem to think that "land is the only thing that matters."]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/09/who-has-the-money-show-me-the-money-give-me-the-money/</link>
			</item>
	<item>
		<title>SEI: PE Managers Give &#8216;Other&#8217; Answers</title>
		<description><![CDATA[Managers were asked: “other than delivering expected performance, what is the greatest challenge in satisfying investors?” The results were: getting investors comfortable with infrastructure, 22 percent; providing satisfactory performance attribution data, 19 percent; providing broader education/consulting, 18 percent; providing satisfactory risk analytics, 11 percent; other, 28 percent. The residual answer produced more favorable replies, then, than did any of the pre-scripted answers.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/08/sei-pe-managers-give-other-answers/</link>
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	<item>
		<title>Alternative Investment Consultants: Clarifying the Vision</title>
		<description><![CDATA[Following the ongoing financial crises that began in 2008, financial services providers are changing the way that they do business. Preqin looks at the shifting role of the consultant and the effect that change is having on the private equity industry.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/07/alternative-investment-consultants-clarifying-the-vision/</link>
			</item>
	<item>
		<title>What Hedge Fund Investors Want, Hedge Fund Investors Get</title>
		<description><![CDATA[In spite of sketchy performance from some top managers, institutional investors remain committed to hedge funds and a large number are shopping for new relationships in 2012.]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/06/what-hedge-fund-investors-want-hedge-fund-investors-get/</link>
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	<item>
		<title>Generating Alpha in Alternative Markets</title>
		<description><![CDATA[


Even against the backdrop of a global recession, the top 50 fastest growing companies in the USA averaged growth rates between 3,893% and 40,882% in the three years to the start of 2011.  These are rates of return which more than compensate the investor for the risk of making high-growth-young-company-investments.  For some investors, alternative markets [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/03/generating-alpha-in-alternative-markets/</link>
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	<item>
		<title>MF Global, Greek Philosophy, and Greek Bonds</title>
		<description><![CDATA[

The classical philosopher Aristotle is often associated with the logical principle that every well-formed proposition is either true or false, either A or not-A.  Actually, Aristotle’s views were a bit more complicated than that. He raised the possibility for example that the truth of the statement “there will be a sea battle tomorrow” might be [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/02/mf-global-greek-philosophy-and-greek-bonds-2/</link>
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		<title>High Frequency Trading Likely to Increase by 400% in China by 2013</title>
		<description><![CDATA[

It is by now common knowledge that High Frequency Trading comprises 70 to 75% of market trading in North America and western Europe.  And it helps to remember that the primary usefulness of algorithmic trading is to provide liquidity to the investor class.  We presume that the distinction of said class is that its investment [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/01/high-frequency-trading-likely-to-increase-by-400-in-china-by-2013/</link>
			</item>
	<item>
		<title>Markets Have Voted</title>
		<description><![CDATA[
 
By John Brynjolfsson
In October the markets voted: the EU finance ministers are ‘all in’ in their commitment to finding a solution to the Union’s troubles. Here, from a perch at Armored Wolf, however, we see a quagmire, and looking forward we will remain focused on the still inherent and deeply seated issues plaguing the [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/11/01/markets-have-voted/</link>
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	<item>
		<title>Study of Commodity Investment and Volatility: No Granger Causality Found</title>
		<description><![CDATA[
By Christopher Faille

The ideas of “cause and effect” seem simple enough when left unexamined. The cue stick hits the cue ball; the cue ball hits the eight ball; the eight ball rolls into the pocket. How can anyone fail to understand this?

Unfortunately, philosophers and social scientists have tied themselves into knots for centuries trying to [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/31/study-of-commodity-investment-and-volatility-no-granger-causality-found/</link>
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	<item>
		<title>Commodities: Position Limits and Arbitrage Possibilities</title>
		<description><![CDATA[

There is an old story often attributed to economist Burton Malkiel. A professor of finance and an undergraduate are walking together. They see what looks like a $100 bill lying on the sidewalk. The naïve student bends down to pick it up, but the professor says, “Don’t bother. If it were a real bill, it [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/30/commodities-position-limits-and-arbitrage-possibilities/</link>
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	<item>
		<title>Commodities: Not That 1970s Show</title>
		<description><![CDATA[Commodities have been the big story of the past decade – almost a repeat of the inflation-burdened 1970s. If hems reflect stock market sentiment, we should be seeing an outbreak of bell-bottom trousers and platform shoes. Certainly, a new cohort of investors, institutional and retail alike, see  price rises in the elements core inflation strips out – namely food and energy – as a secular shift. Still, appearances can be deceiving. A recent study argues a long-only bet on commodities is likely to result in a return that is statistically 0: not the 1970s at all. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/27/commodities-not-that-1970s-show/</link>
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	<item>
		<title>Exploring the Uncharted Seas of Private Equity</title>
		<description><![CDATA[

Cyril Demaria, a partner at Tiaré Investment Management in Zurich, and a former portfolio manager at Maaf Gestion, has written a book, Introduction to Private Equity, John Wiley &#38; Sons Inc., Hoboken, N.J., 2010, 244 pp., $49.95.
The subject matter is named well enough in the title. I’ll only add that Demaria uses the term “private [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/26/exploring-the-uncharted-seas-of-private-equity/</link>
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	<item>
		<title>Predictable Black Swans: Hedge Fund Formerly Known as B of A Exercises $75 Trillion Put to US Treasury, Hopes to Protect Equity Splinter</title>
		<description><![CDATA[

Well, maybe not $75 Trillion.  And it doesn’t call itself a hedge fund.  To be really, really fair, Bank of America couldn&#8217;t have gotten all its derivatives positions wrong, even though it’s a bank.  However, as we shall demonstrate, the phrase &#8220;equity sliver&#8221; is way too optimistic.  Understand this about a derivative hedge:  it&#8217;s a [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/25/predictable-black-swans-hedge-fund-formerly-known-as-b-of-a-exercises-75-trillion-put-to-us-treasury-hopes-to-protect-equity-splinter/</link>
			</item>
	<item>
		<title>HFT: Is There Still Juice in the Oranges?</title>
		<description><![CDATA[
By Christopher Faille
Charles Jones of Columbia Business School made a presentation at an SIFR event in Stockholm, titled “What do we know about algorithmic and high-frequency trading?” Although a distinguished professor like Jones would not put the matter this way, his thoughts do have me thinking of the old human-inhabited trading floors, and their cyberspace [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/24/hft-is-there-still-juice-in-the-oranges/</link>
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	<item>
		<title>What Los Angeles Traffic Can Teach Us About Investing in Real Estate Today</title>
		<description><![CDATA[This is the first in a series of real estate articles by new editorial board member Jan B. Brzeski, Principal at Arixa Capital Advisors, LLC, Los Angeles, CA.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/23/what-los-angeles-traffic-can-teach-us-about-investing-in-real-estate-today/</link>
			</item>
	<item>
		<title>Alpha Hunter: Using Twitter to Predict the Markets</title>
		<description><![CDATA[Johan Bollen is associate professor at the Indiana University School of Informatics and Computing. He was formerly a staff scientist at the Los Alamos National Laboratory from 2005-2009, and an Assistant Professor at the Department of Computer Science of Old Dominion University from 2002 to 2005. He obtained his PhD in Experimental Psychology from the University of Brussels in 2001 on the subject of cognitive models of human hypertext navigation.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/20/alpha-hunter-using-twitter-to-predict-the-markets/</link>
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	<item>
		<title>WMI Reorganization Produces Potentially Disruptive Bankruptcy Decision</title>
		<description><![CDATA[The explosion of the subprime market may yet produce a significant change in the way investors and their managers with a distressed-assets strategy maneuver for advantage in the context of Chapter 11 proceedings]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/19/wmi-reorganization-produces-potentially-disruptive-bankruptcy-decision/</link>
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	<item>
		<title>Hedge Puppies are Still Top Dogs When it Comes to Performance</title>
		<description><![CDATA[The latest version of a yearly analysis tells the same old story about performance, now backed up by fifteen years of data. And the potential rewards of investing with smaller funds go beyond what you see in the database statistics. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/18/hedge-puppies-are-still-top-dogs-when-it-comes-to-performance/</link>
			</item>
	<item>
		<title>Alpha Hunter Jeremy King on Contrarian Asian Alpha Generation</title>
		<description><![CDATA[Jeremy King of Knight Pacific discusses his contrarian views on investing in Asia.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/17/alpha-hunter-jeremy-king-on-contrarian-asian-alpha-generation/</link>
			</item>
	<item>
		<title>CSAM: The Emerging Market Nations Have Some ‘Bullets Left’</title>
		<description><![CDATA[
By Christopher Faille
One of the great clichés used by reporters, commenters, bloggers and twitterers in recent months has been that the central bankers of the developed world, and/or their Treasuries, have “run out of bullets.” They have “spent all their ammunition” seeking stimulus already and will have nothing in reserve should there be another serious [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/16/csam-the-emerging-market-nations-have-some-%e2%80%98bullets-left%e2%80%99/</link>
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	<item>
		<title>Alpha Hunter Busara Advisors: Seeking Diamonds in the Rough</title>
		<description><![CDATA[Alpha Hunters Andrew Timpson and Joseph Schlater of Busara Advisors talk about what it takes to get an emerging manager allocation.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/13/alpha-hunter-busara-advisors-seeking-diamonds-in-the-rough/</link>
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	<item>
		<title>Survey: Inflows Don&#8217;t Reflect Performance Differences</title>
		<description><![CDATA[
By Christopher Faille
A new report on hedge fund inflows indicates that the rate at which money is coming into the hedge fund industry reflects that industry’s improved performance, but that if these figures are segmented by strategy or geography, the different rates at which they are attracting money do not very accurately reflect their different [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/12/survey-inflows-dont-reflect-performance-differences/</link>
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	<item>
		<title>Unhedged Commodities Fall Short in Crises</title>
		<description><![CDATA[Diversification – particularly of risk – is the “a” in alpha. At first sight, commodities earn an “a.” Certainly they have attracted attention from institutional and retail investors alike. Most of those are long-only portfolios – as in “l.” They are a “p” for poor, “h” as in hedge in “a” for adverse markets. ]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/11/unhedged-commodities-fall-short-in-crises/</link>
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	<item>
		<title>Nouriel Roubini to World:  Probably We&#8217;re F****d.   The Good News: Maybe Not ALL of Us, Only the Folks in Really Developed Economies</title>
		<description><![CDATA[
By Doug Friedenberg
We attended a recent meeting put on by Pershing for their prime brokerage clients at which Nouriel Roubini spoke about the near-term prospects for your favorite world, Earth, from an economic point of view.   On a positive note, no large asteroids are currently headed our way, although another prominent economist, Paul Krugman, has [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/10/nouriel-roubini-to-world-probably-were-fd-the-good-news-maybe-not-all-of-us-only-the-folks-in-really-developed-economies/</link>
			</item>
	<item>
		<title>Alpha Hunter Chris Brodie Talks About 20 Years&#8217; Worth of Commodities</title>
		<description><![CDATA[Chris Brodie has been trading commodities for over 20 years, and set up Krom River in 2006. Scotsman Brodie relocated to Zug in Switzerland several years ago and has no regrets about the move. The fund’s best year so far was 2008 when it rose by 37% while the GSCI fell by two thirds, and it was also up in August of this year.  Krom River are running both discretionary and systematic funds, and also have a dedicated agricultural vehicle. We touched on a range of topics that CAIA candidates and charterholders will be familiar with. Krom River is a signatory of the Hedge Fund Standards Board that has been discussed on AAA.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/06/alpha-hunter-chris-brodie-talks-about-20-years-worth-of-commodities/</link>
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	<item>
		<title>Alpha is for Apple: How to be like Steve Jobs and Why</title>
		<description><![CDATA[
by Doug Friedenberg
The passing of a profound individual usually triggers recitals of the great man&#8217;s accomplishments, and we&#8217;re experiencing that with the passing of Steve Jobs, for good and honorable reasons. But that leaves out what may be the most interesting and relevant understanding to be gleaned from his life, especially since Mr. Jobs did [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/06/alpha-is-for-apple-how-to-be-like-steve-jobs-and-why/</link>
			</item>
	<item>
		<title>New Survey Concludes Finding Alpha Is Difficult</title>
		<description><![CDATA[The second in a three-part series on private equity from SEI shows that alpha is a bit slippery these days.]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/05/new-survey-concludes-finding-alpha-is-difficult/</link>
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	<item>
		<title>Fine Print As Yet Unwritten, But the Gist is Clear for OTC Derivatives</title>
		<description><![CDATA[Clearing within ten days after the transaction (T+10) was once the norm, though it now seems archaic. Clearing overnight or in a once-a-day cycle will in the years ahead become equally unsatisfactory. It may soon “become standard practice for risk managers and eventually traders to demand proof that their trades have been cleared mere seconds after execution.”]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/04/fine-print-as-yet-unwritten-but-the-gist-is-clear-for-otc-derivatives/</link>
			</item>
	<item>
		<title>Alpha Hunters: Craig Donohue on The Secrets of Futures &amp; Options Exchanges</title>
		<description><![CDATA[The concept underpinning financial exchanges can be traced back through much of human history.  In Aristotle's Politics, "...there is the anecdote of Thales and his financial device.... he knew by his skill in the stars while it was yet winter that there would be a great harvest of olives in the coming year; so, having little capital, he gave earnest-money for the use of all the olive-press in Chios and Miletus, which he hired at a low price because no one bid against him.  When the harvest-time came, and many wanted them all at once and of a sudden, he let them out at any rate which he pleased, and made a quantity of money..."   While technology has moved on, the basic principle of futures and options exchanges remains the same.  Participants in the market can take the role of Thales (using their insight to bet on price increases), the olive-press-owners (who hedged that Thales' price for the future was higher than they would otherwise get) or even investors who provide 'earnest money' to Thales (assuming markets will rise) or fund the olive-presses (assuming prices will fall).]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/03/alpha-hunters-craig-donohue-on-the-secrets-of-futures-options-exchanges/</link>
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		<title>Passivity, Activity, and Alpha in Currency Management</title>
		<description><![CDATA[
By Christopher Faille
Passive and active investments are often contrasted as if the distinction is self-evident. It isn’t. Even for an unambitious long-only equity indexed fund, trades have to be executed in order to maintain the desired balance, and these trades can be executed either well or poorly, in ways that help or hurt the investor. [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/10/02/passivity-activity-and-alpha-in-currency-management/</link>
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		<title>Alpha Hunter: Ocean Tomo: Crossroads of the Intellectual Property Universe</title>
		<description><![CDATA[In Part II of this Alpha Hunter series, we examine the role intellectual property plays in the U.S. economy.]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/29/alpha-hunter-ocean-tomo-crossroads-of-the-intellectual-property-universe/</link>
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		<title>Hedge Fund Side Pocket Secondary Markets: Heading South, or Going Their Own Way?</title>
		<description><![CDATA[There are fears that the summer selloff could paralyze or weaken the secondary market for hedge funds. Yet deeper research reveals that some sought after funds may still command premiums – the story is very much fund-specific.]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/28/hedge-fund-side-pocket-secondary-markets-heading-south-or-going-their-own-way/</link>
			</item>
	<item>
		<title>The Asia-Pacific Private Equity Parade: Is it Passing You By?</title>
		<description><![CDATA[
It is true by definition that the crowd is right in the midst of a trend, and wrong at the moment when that trend is about to reverse itself.  In the Asia Pacific region, broad confidence in opportunities for private equity surely constitutes by now, a trend, even a parade. Whether it is the sort [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/27/the-asia-pacific-private-equity-parade-is-it-passing-you-by/</link>
			</item>
	<item>
		<title>Looking at an Ink Blot, Seeing a Green Light</title>
		<description><![CDATA[International Monetary Fund research shows that speculation does not influence the commodities markets.]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/26/looking-at-an-ink-blot-seeing-a-green-light/</link>
			</item>
	<item>
		<title>Hedge Funds Working to Avoid Dramatic Liquidity Mismatches</title>
		<description><![CDATA[
There will likely always be at least a simmering tension in the hedge fund industry between the managerial desire for discretion in the use of assets and every investor’s desire to have the option of withdrawing funds as needed. When a manager seeks to offer its investors more liquidity than its own portfolio can provide, [...]]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/25/hedge-funds-working-to-avoid-dramatic-liquidity-mismatches/</link>
			</item>
	<item>
		<title>Private equity: Is the glass full? Half full? Empty?</title>
		<description><![CDATA[Roughly half of the private equity limited partners questioned in a June 2011 survey said they plan to commit more capital to PE funds this year than they did last.]]></description>
		<link>http://allaboutalpha.com/blog/2011/09/22/private-equity-is-the-glass-full-half-full-empty/</link>
			</item>
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