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Top Stories |
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Bank of America Names Leadership Team for Global Wealth &
Investment Management Alternative Investments Group
Source:
CNNMoney.com
Bank of America announced leadership for its new Global Wealth &
Investment Management (GWIM) Alternative Investments group
today. The group, expanded through the merger with US Trust, is
responsible for alternative investment solutions for high net
worth, endowment, foundation, pension fund and institutional
clients, and currently oversees approximately $6 billion in
client assets.
More...
Banks, funds look to meteorologists for trading edge
Source:
Reuters
If there were hordes moaning about Britain's washout summer last
month, hedge fund manager Peter Brewer wasn't among them. He was
too busy profiting from the rain to let it sour the taste of his
cider.
More...
Cui Bono? More Than Just 'Public Benefits' Is Behind Taxing
Hedge Fund Managers
Source: The Wall Street Journal Online
Steve Forbes's editorial page commentary "Private Equity, Public
Benefits" (July 25) misses the boat.
Mr. Forbes acknowledges that "risk taking" is the basis for
capital gain treatment. However, the carried interest is earned
for taking risks with other people's money. As a tax attorney, I
would like to think that some of my ideas help companies operate
more efficiently, yet I get taxed at ordinary income rates for
dispensing advice -- as do business consultants and engineers.
More...
Hedge Fund Manager Rokos Plans Luxury Home in Former U.K. Hotel
Source:
Bloomberg
Chris Rokos, a partner at U.K. hedge fund Brevan Howard Asset
Management, plans to transform a dilapidated former hotel in
Kensington into a luxury 10-bedroom home for his family.
More...
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Term of the Day & Related News |
Short Selling
In finance, short
selling is selling something that one does not (yet) own. Most
investors "go long" on an investment, hoping that price will
rise. Short sellers borrow a security and sell it, hoping that
it will decrease in value so that they can buy it back at a
lower price and keep the difference. For example, assume that
shares in XYZ Company currently sell for $10 per share. A short
seller would borrow (say) 100 shares of XYZ Company, and then
immediately sell those shares for a total of $1000. If the price
of XYZ shares later falls to $5 per share, the short seller
would then buy 100 shares back for $500, return the shares to
their original owner, and make a $500 profit. In a given year
about 2% of stocks on the New York Stock Exchange are sold
short.
More...
Related News:
Markets give
short-sellers long-awaited gains
Source:
Reuters UK
Short-sellers are hot again after five years out in the
cold, fuelled by a U.S. subprime mortgage crisis that
could extend their run of healthy returns for months to
come, industry experts said on Friday.
More...
Short Stories: Coast
Financial (CFHI) buyout highlights a risk of short
selling
Source:
BloggingStocks
This April -- after returning from a visit to Sarasota,
FL where I read about a bank that lent to a bankrupt
developer -- I recommended selling short shares of Coast
Financial Holdings Inc. (NASDAQ: CFHI) at $6.90 a share.
Covering that position on Friday, at $2.28, would have
generated a 203% return.
More... |
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Scholarly Article & Related News |
Closed Form Solutions
For Term Structure Derivatives With Log-Normal Interest
Rates
by Kristian
R. Miltersen, Klaus Sandmann, & Dieter Sondermann
We derive a unified term structure of interest rates model
which gives closed form solutions for caps and floors
written on interest rates as well as puts and calls written
on zero-coupon bonds. The crucial assumption is that the
simple interest rate over a fixed finite period that matches
the contract, which we want to price, is log-normally
distributed. Moreover, this assumption is shown to be
consistent with the Heath-Jarrow-Morton model for a specific
choice of volatility...
More...
Related News:
Calyon, ING to
Increase Corporate Loans, Derivatives in Brazil
Source:
Bloomberg
Calyon, the investment banking unit of Credit Agricole
SA, and ING Groep NV plan to scale up credit operations
in Brazil, where customers are borrowing at a record
pace to expand locally and overseas.
More...
USFE joins rush to
offer credit derivatives
Source:
FinancialNews-US.com
The US Futures Exchange is poised to allow investors to
trade futures based on fixed income indices, despite a
lukewarm reception for listed credit derivatives
launched by its rivals.
More... |
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Top Stories by Category |
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Book of the Day & Related News |
Book Description
Explains futures trading to the
non-professional in simple, straightforward
language. Reflects on new defining forces in
the market and industry, taking a look at
the future of futures. Also incorporates
technology, showing how to open an account
online for futures trading and explaining
Globex electronic trading. |
Campbell Reopens
Futures Portfolios To Investors
Source:
FINalternatives
anaged-futures giant Campbell & Co. is reopening a pair
of futures portfolios to investors. The Financial,
Metals & Energy Portfolio, which has over $9 billion of
Campbell’s $11 billion in assets under management, and
its $800 million Global Diversified Portfolio, which is
only offered in the U.S., will reopen on Sept. 1.
More...
A Primer For Profits
In Energy Futures
Source:
Forbes
Prices for crude oil, crude oil products and natural gas
futures constantly change in response to new information
and reflect the adjustments being made to previous and
prospective expectations. The relative size and duration
of those adjustments often depend on the nature of the
new information and the way it is received.
More...
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Personal Interest |
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China trying to put
on a "green" Olympics
Source:
Xinhua
The Chinese capital is adopting eco-friendly
technologies in transportation, power supply, water and
waste management to ensure a "green" Olympic Games,
according to the Chinese Ministry of Science and
Technology.
More...
Bonds To Try Again
For Home Run Record
Source:
CBS
Washington left-hander Mike Bacsik will be the next
pitcher to try and keep Barry Bonds from hitting a
record-breaking 756th home run. Bonds went 0-for-3 with
a walk against the Nats' pitching staff last night and
remains tied with Hank Aaron for the alltime home run
lead. More...
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