Browsing: Equity Hedge Funds

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Equity Hedge Funds

Don’t Get Carried Away by Carry

Oct 15th, 2020 | Filed under: Newly Added, Alpha Strategies, The Global Economy & Currencies

By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION There are folks in finance who know and folks who don’t know. The latter group often drives the former crazy by abusing terminology. For example, moderators and guests on CNBC talking about momentum and growth stocks as if they were the same thing.Read More


Three Sources of Alpha: A Call for Small Manager Investment

Oct 13th, 2020 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, CTA, Investing in Commodities, Equity Hedge Funds, Newly Added, Seeding/early-stage, Macro and Managed Futures Funds, Hedge Funds, Commodities, Finance & Economics

By Karl Rogers, ACE Capital Investments I recently finished a multi-strategy fund of hedge funds build for an institution where I focused on three sources of alpha: small manager, equities and commodities. Small Manager Alpha Given that “small” managers have been found to outperform their larger peers[1], why do manyRead More


The Alternative Imperative, Part 1

Oct 6th, 2020 | Filed under: Algorithmic and high-frequency trading, Hedge Fund Strategies, Newly Added, Alternative data, Technology, Artificial Intelligence, Alternative Investments in Context, Machine Learning, Hedge Funds, Other Topics in A.I.

By Rick Roche, CAIA, Managing Director of Little Harbor Advisors, LLC Part 1 of a two-part series on Alternative Investment Data (Alt-Data) in the COVID Era. In Part 1, the author makes the case for high-frequency, short-interval Alt-Data while discussing three primary drawbacks of interpreting official economic statistics amid aRead More


Volatility Hedge Funds: The Good, the Bad, and the Ugly

Sep 3rd, 2020 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Hedge Funds

By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION In finance 101, there is usually little doubt on what constitutes the major asset classes in the investment industry, i.e. there are the traditional ones like equities or fixed income as well as alternatives like real estate or private equity. The instruments ofRead More


ESG Hedge Fund Managers and the Agency Problem

Sep 1st, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, ESG, Hedge Funds, Other Topics in A.I.

Economists in general, and scholars of finance in particular, have long been concerned with the “agency problem,” the conflict of interest inherent in any relationship where X is expected, and perhaps required by law or contract, to act in the best interest of Y. The problem exists because, for example,Read More


Understanding the Limitations of Liquid Alternatives

Jul 30th, 2020 | Filed under: Retail Investing, Hedge Fund Strategies, Newly Added, Alternative Mutual Funds, 130/30, Liquid Alts, Alternative Investments in Context, Smart Beta, Hedge Funds, Liquid Alternative Investiments, Allocating to A.I.

By Shana Sissel, CAIA, Spotlight Asset Group More than a decade ago the world of alternative investments witnessed hedge-fund-inspired Investment Act of 1940 (40 Act) funds appear on the scene. Much like their private alternative counterparts, liquid alternatives offer valuable diversification benefits within traditional portfolios, but it’s important to keepRead More


What’s the Difference Between Momentum and Trend Following?

Jul 29th, 2020 | Filed under: Newly Added, Alpha Strategies, Hedge Funds

By Alex Botte, CFA, CAIA, Vice President, Two Sigma At the end of 2019, Two Sigma’s Venn platform added three new macro style factors to its risk model, the Two Sigma Factor Lens: Fixed Income Carry, Foreign Exchange Carry, and Trend Following. The first two factors are meant to capture anRead More


Global Macro: Masters of the Universe?

Jul 23rd, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Hedge Funds

By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION He-Man and the Masters of the Universe was a popular TV cartoon show in the 1980s, where a handsome Prince Adam was battling the evil Skeletor for control of the universe. Each time Prince Adam held the Sword of Power and boomed “ByRead More


Technology: Aiding and Abetting the Democratization of Alternative Investments

Jul 14th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Hedge Fund Strategies, Newly Added, Fintech, Venture capital, Technology, Artificial Intelligence, Other Issues in Private Investments, Machine Learning, Hedge Funds, Private Investments, Other Topics in A.I.

A recent working paper for the European Corporate Governance Institute maintains that technology has the potential to make hedge funds and private equity more accessible to the retail investor. The paper, by Omololu Bajulaiye of Tilburg University, along with some other scholars begins with the non-controversial proposition that venture capital,Read More


Variance Risk Premium: What Premium?

Jun 25th, 2020 | Filed under: Newly Added, Alpha Strategies, Risk management, Risk Metrics and Measurement, Alternative Investments in Context, Risk Management Strategies & Processes

By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION Investing is akin to fighting in the forever war. There are long periods of peace and prosperity, but investors are frequently drawn into short-term combat, extended battles, and multi-year wars. And the cycle repeats over and over. For some of the foot soldiers,Read More


The Test and The Bet

Jun 16th, 2020 | Filed under: Hedge Fund Strategies, Newly Added, CAIA Alternative Viewpoints, Hedge Funds

By Shreekant Daga, CAIA, CFA, FRM | Associate Director, Liaison Office, India | CAIA Association Sporting incidents at times draw similarities to financial matters. The below write-up compares and contracts one of the most famous cricket test matches and a Wall Street bet with a financial investment lens. The blog post takes form of aRead More


Stat Arb, Algos and the Difference Between Cats and Dogs

Jun 1st, 2020 | Filed under: Algorithmic and high-frequency trading, Hedge Fund Strategies, Newly Added, Artificial Intelligence, Business News, The A.I. Industry, Machine Learning, Hedge Funds, Other Topics in A.I.

A co-founder of Quantigic Solutions has presented what he calls “the freshmanlevel” answer to the question: why did dollar-neutral quant trading strategies, such as equities stat arb, fail so markedly during the COVID-19 market sell-off? Zura Kakushadze, a professor at the Free University of Tblisi, is on reasonably solid groundRead More


Hedge Funds and 2 Economic Crises: Focus on Systematic and Algorithmic Hedge Funds

May 28th, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, CAIA Alternative Viewpoints, Hedge Funds, Structure of the Hedge Funds Industry, Allocating to A.I.

By Hossein Kazemi, PhD, CFA, Senior Advisor at CAIA Association During the Global Financial Crisis (GFC), the role of hedge funds and their potential to provide significant downside protection was hotly debated. The same debate has resurfaced earlier this year again when markets for risky assets experience double-digit declines withinRead More


Time-varying Equity Volatility Markedly Affects Hedge Fund Performance

May 19th, 2020 | Filed under: Performance, Analytics & Metrics, Hedge Fund Strategies, Newly Added, Risk management, Benchmarking & Performance Attribution, Risk Management Strategies & Processes, Hedge Funds, Structure of the Hedge Funds Industry

By Masao Matsuda, CAIA, FRM, Founder, Crossgates Investment and Risk Management One would think hedge funds can weather market gyrations better than long-only equity investments as hedge funds have greater flexibility in determining the levels of market exposure.  However, while some individual hedge funds may have been successful in adverse marketRead More


Back(wardization) to the Future

May 3rd, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, Indexes, What about beta?, Hedge Funds

By Aaron Filbeck, CAIA, CFA, CIPM – Associate Director of Content Development at CAIA Association In the title reference, the character Dr. Emmett Brown says this about a bolt of lightning: “Unfortunately, you never know when or where it is ever gonna strike.” Frame of reference is everything when itRead More


MERGER ARBITRAGE: ARBITRAGED AWAY?

Apr 30th, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

By Nicolas Rabener, @FactorResearch INTRODUCTION Working in the restructuring team of a corporate finance boutique is like being a trader focused on short-selling. Most money is made when companies falter, and stocks turn bearish. A restructurer’s cyclical counterpart is the ever-optimistic merger & acquisition (M&A) banker that thrives when theRead More


Peeling Back the Wrapper of Hedge Fund Strategies

Apr 13th, 2020 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Newly Added, Institutional Investing, Alpha Strategies, Event-Driven Hedge Funds, CAIA Alternative Viewpoints, Liquid Alts, Institutional Asset Management, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Liquid Alternative Investiments, Allocating to A.I., Other Topics in A.I.

By Aaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association During CAIA Association’s most recent Virtual Chapter event, Keith and I (virtually) sat down with Chris Tidmore, CFA, CPA at The Vanguard Group to discuss Vanguard’s recent whitepaper, “The Wrapper Matters: Comparing Liquid Alternatives to Hedge Funds”Read More


Long Alpha and Activist Strategies 

Mar 27th, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Alpha Strategies, Event-Driven Hedge Funds, CAIA Alternative Viewpoints, Hedge Funds

By Aaron Filbeck, CAIA, CFA, CIPM Associate Director, Content Development at CAIA Association Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 2 The Alternative Investment Analyst Review is the official publication of the CAIA Association. Access to the most current issue is an exclusive benefit of CAIA MembershipRead More


THOU SHALL NOT SHORT THE VIX

Mar 26th, 2020 | Filed under: Newly Added, Alpha Strategies, Hedge Funds, Other Topics in A.I.

By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION Scratching the surface of most people’s knowledge often does not reveal depth, but a lack thereof. When the former US Democratic candidates Tom Steyer and Amy Klobuchar were asked to name Mexico’s president, who is one the key counterparties for any US president,Read More


Diversification Strikes Back!

Mar 13th, 2020 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Newly Added, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Hedge Funds, Private Investments, Real Assets, Allocating to A.I.

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association, and Keith Black, PhD, CFA, CAIA, FDP, Managing Director, Content Strategy at CAIA Association “Diversification is back” – now that’s not a phrase we’ve heard in a long time…long time. Considering recent market performance, we thought thatRead More


3 Threats to Hedge Funds

Mar 8th, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Regulation, Hedge Fund Strategies, Newly Added, Regulatory Environment, Liquid Alts, The A.I. Industry, Fees, Hedge Funds, Liquid Alternative Investiments, Allocating to A.I.

A recent paper by a scholar at Tilburg University and a market participant at Robeco outlines the difficulties that the hedge fund industry has faced over the last decade. These problems arose, at least in part, from the democratization of alternative investing. There are three important challenges to the hedgeRead More


Icahn, HP and Xerox: The Story Remains the Same

Jan 14th, 2020 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Business News, The A.I. Industry, Hedge Funds

A long-running drama continues over Xerox’ desire to buy HP. Xerox upped the ante early in the new year, announcing that it has secured binding financing commitments in the amount of $24 million. The dispute, with long-time shareholder activist Carl Icahn at its center, shows that: (a) the corporate worldRead More


Hedge Fund Investors Respond to the Turning of the Business Cycle

Jan 13th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Hedge Fund Strategies, Investing in Commodities, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Commodities, Private Investments

It is reasonable to expect that a diversified hedge fund portfolio will make more modest returns in 2020 than it did in 2019, according to Agecroft Partners, which has done its usual January crystal-ball gazing on the new year, looking for the top industry trends and how they may playRead More


Shorting NMC Health: The Waters are Muddy

Jan 7th, 2020 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

NMC Health, an Abu Dhabi-based firm listed on the London Stock Exchange, has suffered a sharp loss in value as a consequence of its dispute with a forensic short seller, Carson Block, the man behind Muddy Waters Research. Block has bet against the stock because he believes that it isRead More


Europe’s Hedge Fund Numbers Growing Again

Jan 2nd, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

Eurekahedge’s latest monthly report includes a special section on the key trends in European hedge funds. It tells us that the total number of European hedge funds grew in 2019, after a decline in each of the four years before (2015 – 2018). In other words, although in recent yearsRead More


Start Your Algorithms: Speed is Good Again, or is it?

Dec 30th, 2019 | Filed under: Algorithmic and high-frequency trading, Hedge Fund Strategies, Newly Added, Fintech, Alpha Strategies, Technology, Artificial Intelligence, Business News, The A.I. Industry, Hedge Funds

Until the final days of 2019, it has been a quiet year for high-frequency trading-related news. The whole concept of a trade executed in nanoseconds, and the related concept of a trading program managed with only sporadic human intervention or oversight, have all faded into background assumptions. What remains isRead More


The Imminent Demise of the LNG/Crude Oil Link

Dec 19th, 2019 | Filed under: Commodities, Hedge Fund Strategies, Investing in Commodities, Newly Added, oil, Commodities: Examples, Energy, The A.I. Industry, Hedge Funds, Commodities

Liquified natural gas has long been sold through long-term contracts that are benchmarked to the price of crude oil. This makes a certain intuitive sense. The two commodities are in many contexts substitutes, so that one would expect a rise in the prices of one to inspire an echoing riseRead More


Report: Convertible Bonds Attractive for 2020

Dec 17th, 2019 | Filed under: Newly Added, Alpha Strategies, Event-Driven Hedge Funds, The Global Economy & Currencies, The A.I. Industry, Hedge Funds

A new report from Schroders looks at global convertible bonds, instruments that straddle the boundaries of debt/equity/derivatives. It tells us—in a discussion that might be of interest to the portfolio managers of relative value hedge funds—that these bonds have come back into fashion due to the higher volatility of 2019Read More


A Critique of (Non-forensic) Short Selling

Dec 12th, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Financial Economics Theory, Newly Added, Alpha Strategies, The A.I. Industry, Hedge Funds, Finance & Economics

In a new paper, three quants with Robeco suggest that the “short” side of the activity of many long/short equity trades is pointless. These quants are David Blitz, Guido Baltussen, who is also affiliated with Erasmus University, Rotterdam, and Pim Van Vliet. They have broken down the common equity factorRead More


Pairs Trading Suggested for Energy Stocks

Dec 11th, 2019 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, Alpha & Beta, Newly Added, Alpha Strategies, ETFs, The A.I. Industry, Hedge Funds, Allocating to A.I., Finance & Economics

Carlos Salas Najera, of the New York City Data Science Academy, has tested an old idea (pairs trading) for a strategy that could be tailored to energy stocks and related ETFs. The resulting paper is “Pairs Trading and VAR Analysis Applied to Energy Stocks.” His latest paper, though, has aRead More


Looking for Bias: Hedge Funds, Funds of Funds and Prime Brokers

Nov 28th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Institutional Investing, Funds of Hedge Funds, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds Industry, Allocating to A.I.

Prime brokers help funds of hedge funds identify hedge funds, which creates what the authors of a new paper call a PB bias. This means that portfolios are overweighted to the hedge funds serviced by the connected prime brokers. The scholars tested (and confirmed) the intuitive hypothesis that the biasRead More


Hedge Fund Flows Fall Flat in October

Nov 24th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds

The Eurekahedge Hedge Fund Index was up 0.31% in October. However, it doesn’t measure up to the market next to the MSCI ACWI (Local), which ended October up 1.93%. Eurekahedge’s latest monthly report observes that US-China trade talks resumed, and this led to a certain tentative optimism. Since those areRead More


Icahn Loses Match: Knocked Out on A Books-and-Records Issue

Nov 21st, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Business News, The A.I. Industry, Hedge Funds

The phrase “books and records” hardly suggests excitement. Yet, the cliched corporate lawyers’ phrase is not without payoff, either. Activist hedge funds are always interested in ammunition that will help them shake up entrenched managements and unlock value. The question often arises during the resultant fights: when does an activist/dissidentRead More


Machine Learning: Beyond the Fear of Unknown Unknowns

Nov 17th, 2019 | Filed under: Algorithmic and high-frequency trading, Equity Hedge Funds, Newly Added, Alpha Strategies, Event-Driven Hedge Funds, Technology, Artificial Intelligence, Business News, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Other Topics in A.I.

Machine learning as a way of managing a portfolio is a “wave of the future” with a lot of sea to cover before it breaks on the shore. Meson Capital Partners has sent its investors an update and summary for 2019 Q3 regarding its managed market neutral fund, and thisRead More


How to Improve Momentum Risk Management

Nov 12th, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Risk management, Risk Metrics and Measurement, The A.I. Industry, Risk Management Strategies & Processes, Hedge Funds

Matthew X. Hanauer and Steffen Windmueller, two scholars affiliated with the Technical University of Munich, compare the performance of three risk management approaches applicable to the momentum strategy. Their new paper also explores the risk management techniques available for hedge fund managers and others who pursue a momentum strategy. ARead More


The Risks of Betting on the Transformation of Automobiles

Nov 11th, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

Hedge funds recently are interested in taking the long position on Telenav (NASDAQ: TNAV). According to Insider Monkey, the number of hedge funds with positions in TNAV rose from eight to 13 at the end of 2018 and the beginning of 2017. Then it slid gradually back to eight overRead More


Investors Want Liquidity and They Want it Now

Nov 7th, 2019 | Filed under: Private Equity, Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Institutional Investing, Equity Types of Private Equity, The Global Economy & Currencies, Other Issues in Private Investments, Business News, Economics, The A.I. Industry, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, Allocating to A.I., Finance & Economics, Other Topics in A.I.

A recent publication from Fidelity Institutional Asset Management, while looking at the money markets in the US, emphasizes that investors are looking for liquidity. The report, written by Kerry Pope and Chris Lewis, each an institutional portfolio manager with FIAM, begins with a discussion of the Federal Reserve’s September rateRead More


Muddy Waters Sells Burford Short

Nov 3rd, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

Burford Capital, a New York-based company, provides litigation finance. This is a subject of endless debate, especially among members of the plaintiffs’ bar. The old-style plaintiffs’ lawyer simply says “no, thank you” to any potential client without the financial wherewithal to bear the costs of an action, especially if theRead More


Blenheim Closes, Ushering in a New Era in Commodities

Oct 31st, 2019 | Filed under: Hedge Fund Strategies, CTA, Investing in Commodities, Newly Added, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities

Willem Kooyker is folding up his tent at Blenheim Capital, the commodities-focused hedge fund headquartered in an office park in Berkeley Heights, N.J. Kooyker is a legend. In 1981, he went to work at Commodities Corp., Princeton, N.J., where he was a peer of Paul Tudor Jones, Louis Bacon, andRead More


Merger Arb: A Dis-economy of Scale 

Oct 27th, 2019 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

A new paper in the Journal of Economics and Business presents data on merger arb, and which factors, especially sector size and individual fund size, do or do not have an impact on the alpha available in the pursuit of this strategy. For a given time period, the total dollar amountRead More


It’s Not Cheating for Market Makers to Pay for Order Flow

Oct 24th, 2019 | Filed under: Algorithmic and high-frequency trading, Hedge Fund Strategies, Newly Added, Asset Managers, Business News, The A.I. Industry, Hedge Funds

Larry Tabb, in a piece in the Financial Times, has defended the controversial practice of payment for order flow (PFOF). Let’s start with PFOF and why it’s controversial. The UK’s Financial Conduct Authority defined PFOF in a recent white paper as the practice in which an investment firm, typically aRead More


Global Hedge Fund Assets Shrink

Oct 20th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds Industry

According to the latest report from Eurekahedge, the world’s hedge funds recorded a net growth of $3.4 billion due to performance in September 2019. On the other hand, September also saw large net outflows of $6.2 billion. Assets at the end of the month were down 0.12%.  Looking at fundsRead More


The Persistence of the Low-Risk Effect

Oct 10th, 2019 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, Financial Economics Theory, Newly Added, Alpha Strategies, The A.I. Industry, Hedge Funds, Finance & Economics

The “volatility effect,” also known as the “low-risk effect,” is the subject of a new paper from Robeco. The gist of the “effect” is this: low-risk stocks “should” show a lesser return than high-risk stocks. The Capital Asset Pricing Model predicts a linear relationship between the risk of a securityRead More


Valuation: A New Approach to an Old Financial Tool

Oct 7th, 2019 | Filed under: Equity Hedge Funds, Newly Added, Risk management, Event-Driven Hedge Funds, Other Issues in Private Investments, The A.I. Industry, Risk Management Strategies & Processes, Hedge Funds

Zane Swanson, an accounting professor at the University of Central Oklahoma, has been at work on a fascinating new approach to the valuation of firms and the valuation of their equity shares. This approach may be of great interest to risk arb hedge funds. Swanson is working with an establishedRead More


Eurekahedge: The Return of Alpha

Sep 29th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities, Structure of the Hedge Funds Industry

The Eurekahedge Hedge Fund Index was up in August, 0.17%, easily outperforming the global equity market, as measured by MSCI ACWI, which was down 2.37%. The August number brings the Eurekahedge HFI’s year-to-date result to 6.58%. Approximately 32.6% of the funds Eurekahedge tracks are in double-digits (positive) territory for theRead More


When Exchanges are Complements, not Competitors

Sep 26th, 2019 | Filed under: Algorithmic and high-frequency trading, Equity Hedge Funds, Newly Added, Business News, The A.I. Industry, Hedge Funds, Finance & Economics

One regular theme of coverage and analysis that involves the listed equities, including analysis of the pursuit of alpha, is that many of the users of these markets claim, often quite obstreperously, that the exchanges charge more than makes sense and some restructuring of the industry is in order. TheRead More


Climate Change and Artificial Intelligence as Investment Mega-Trends

Sep 24th, 2019 | Filed under: Private Equity, Newly Added, Alpha Strategies, Venture capital, The Global Economy & Currencies, Technology, Artificial Intelligence, Other Issues in Private Investments, The A.I. Industry, Frontier markets, Emerging Alternative Investments, Private Investments, SRI and Clean Energy, Other Topics in A.I.

A report from CREATE in collaboration with BNY Mellon looks at two related megatrends in investing—climate change and artificial intelligence. It asks in each case: how is this trend perceived in terms of opportunities and risks? What are the specific investment issues involved or solutions likely to be adopted? AndRead More


Boone Pickens, A Trailblazer, Passes On

Sep 17th, 2019 | Filed under: Hedge Fund Strategies, Investing in Commodities, Newly Added, Socially responsible investing, Event-Driven Hedge Funds, oil, Alternative energy, Other Issues in Private Investments, Energy, The A.I. Industry, Hedge Funds, Commodities, SRI and Clean Energy, Other Topics in A.I.

T. Boone Pickens died quietly at home in Dallas, Texas on Sept. 11, 2019. In his long career Pickens did a good deal to give the current hedge fund industry, as well as the broader asset management industry and the energy commodities markets, their character, in a life that sometimesRead More


Negative Interest Rates: A Reason to Invest in Hedge Funds?

Sep 9th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Alpha Strategies, Event-Driven Hedge Funds, Liquid Alts, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Liquid Alternative Investiments, Allocating to A.I.

Negative interest rate policy—that is, central bank arrangements that seek to inspire spending by punishing savings, not merely in real but in nominal terms—have spread in recent years among the developed economies, and are now in use in Japan, Switzerland, Sweden, and the Eurozone. Denmark got the ball rolling inRead More


Zebras Are Reactionaries

Sep 9th, 2019 | Filed under: Newly Added, Asset Managers, Alpha Strategies, What about beta?, Smart Beta, The A.I. Industry, Hedge Funds, Risk Management & Operations, Allocating to A.I.

Someone told me that it’s all happening At the Zoo. In this case, it was Paul Simon in his 1967 title song where he anthropomorphizes the animals he sees in the Central Park Zoo. Some are deemed to be honest, some kindly but dumb, and some insincere or skeptical, and,Read More