Thursday, May 24, 2007

FREE ACCESS

“A friend is one who sees through you and still enjoys the view.” - Wilma Askinas

News Related to:  Top Stories  |  By Category  |  Term of the Day  |  Scholary Articles  |  Book of the Day

 Related Website:
  Home  |  News  |  Books  |  Scholarly  |  Definitions  |  Rankings  |  Profiles  |  Archive

 Top Stories


Biggest Hedge Funds Run Two-Thirds Of Assets
Source: FINalternatives
The biggest hedge funds in the world are getting bigger and at a faster rate than their smaller peers, according to new report.

Alpha Magazine’s annual survey of hedge fund assets shows that the top 100 hedge funds in the world now manage more than $1 trillion combined, accounting for 68% of all hedge fund assets. Prior to asset growth of 39% last year, the top 100 held 65% of all assets. More...

Merrill Lynch to Acquire Stake in Sterling Stamos (Update3)
Source: PR Web
A group of leading scientists and hedge fund managers today announced the creation of the "Gotham Prize for Cancer Research" (Gotham Prize), an annual award designed to encourage new and innovative approaches to cancer research by fostering collaboration among top thinkers in the field. More...


Old violins and other hedge funds
Source: Marketplace
Wealthy investors are running out of things to buy and that's created a market for some unusual hedge funds. They don't always make it off the ground, but the violin fund may actually be going places, says James Mackintosh. More...

Why Innovation and Creativity Matter
Source: Corporate Connecticut
With an asset base just under $5 billion and some 125 employees, Graham Capital Management (Rowayton, Conn.), is a multistrategy hedge fund. Chairman Kenneth G. Tropin describes Graham’s investment philosophy and style as he reflects on the past—and contemplates the future—of the industry. More...

More of Today's Stories continued below...  or  Today's Stories unabridged on the web

  Term of the Day & Related News

Fund of Hedge Funds

A fund of hedge funds is an investment company that invests in hedge funds -- rather than investing in individual securities. Some funds of hedge funds register their securities with the SEC. These funds of hedge funds must provide investors with a prospectus and must file certain reports quarterly with the SEC. Many registered funds of hedge funds have much lower investment minimums (e.g., $25,000) than individual hedge funds. Thus, some investors that would be unable to invest in a hedge fund directly may be able to purchase shares of registered funds of hedge funds. More...
 
Related News:

Too Many Fofs at the Trough
Source: Investment Week
Investors who want decent returns for their cash have been increasingly turning to the slew of fund of funds offerings on the market.

But speaking to fund of funds managers, I’m left wondering just how different most of the vehicles are. 
More...

Thames River Launches Currency FoF
Source: FINalternatives
Thames River Capital last month launched the Thames River 2X Currency Alpha, a Cayman Islands-based currency fund of funds, with US$15.2 million. The firm said it will follow up this latest offering with another launch, that of the Thames River 1x Currency Alpha Fund, on June 29.
More...

  Scholarly Article & Related News

Direct Tests of Index Arbitrage Models
by Robert Neal
Previous tests of stock index arbitrage models have rejected the no-arbitrage constraint imposed by these models. This paper provides a detailed analysis of actual S&P 500 arbitrage trades and directly relates these trades to the predictions of index arbitrage models. An analysis of arbitrage trades suggests that i) short-sale rules are unlikely to affect the cash-futures mispricing, ii) the opportunity cost of arbitrage funds exceeds the Treasury bill rate, and iii) the average price discrepancy captured by arbitrage trades is small...
More...

 
Related News:

Changing indexes for funds
Source
: The San Francisco Chronicle
Buying an index fund used to be simple.

Investors who wanted broad exposure to the market in a single, low-cost fund could buy one that tracked the Standard & Poor's 500 index and pretty much forget about it.
More...

US STOCKS-Indexes slip; traders turn cautious before weekend
Source
: Reuters UK
U.S. stocks declined on Thursday as investors seized an early rally on housing data as a chance to protect their gains in advance of a long U.S. holiday weekend. More...

  Top Stories by Category
  Book of the Day & Related News

   
 
 
Book Description
Series of engrossing papers covering the analytical research on high-yield, non investment-grade debt market from public policy and regulatory/legislative aspects.

Related News:

The High Yield Income Fund, Inc. Withdraws from Arca
Source: BusinessWire
The High Yield Income Fund, Inc. (NYSE: HYI) (the “Fund”) is today announcing that it plans to voluntarily withdraw its common stock from listing on NYSE Arca, Inc., formerly the Pacific Exchange. The Fund’s securities will continue to be listed on the New York Stock Exchange.
More...

Australian Dollar Advances on Investor Appetite for Risk, Yield
Source
: Bloomberg
The Australian dollar advanced, snapping five days of losses, as rising appetite for risky investments lured traders to the nation's higher-yielding assets. More...

 

  Personal Interest


Dell does U-turn on sales strategy
Source: Times Online
Dell is to sell its computers in Wal-Mart stores in a radical departure from its strategy of only selling directly to customers. More...


Memorial day events
Source: NorthJersey.com
Along with VFW and American Legion posts, Bloomingdale, Butler and Kinnelon will be combining their Memorial Day events on Monday. A parade will begin in Bloomingdale at 9 a.m. at Van Dam Avenue. It will proceed to Sloan Park for a short service and will continue on to Hamburg Turnpike to Main Street in Butler, where there will be another service at the Butler Park monuments. Kinnelon participants will hold their services at the Kinnelon Municipal building. More...

 

Advertising Space Available

 

 
   Top Stories (Continued)


4 SEC chiefs warn on hedge funds
Source: The Los Angeles Times
Four former Securities and Exchange Commission chairmen said Wednesday that too little was known about the activities of hedge funds and leveraged buyout firms. The four warned of a possible crisis if regulators don't rein in the fast-growing investment vehicles. More...

CSI for hedge-fund blowups
Source: CNN Money
Growing concern about the effects hedge-fund blowups can have on global financial markets has renewed a push for tighter controls on the $1.6 trillion industry. More...


The heavy brigade
Source: Economist.com
PEER STEINBRÜCK, the German finance minister, will not give up. “Don't believe everything you hear from New York and London,” he told The Economist. He was referring to differences of opinion on how to reduce the risk that the $1.6 trillion hedge-fund industry poses to global financial stability. More...

Hedge Fund Management Style Analysis: 'Holding- Based' vs. 'Return- Based' Approaches
Source: SeekingAlpha
With the release of Andrew Lo’s recent paper on a new way to calculate alpha, this article by Edhec on style analysis seems apropos. As you may recall, Lo argues that the true measure of active management is a manager’s ability to correctly forecast security price movements and to express those forecasts in the portfolio. The key metric, therefore, is the correlation between portfolio positions and price movements. More...

Incremax Wins Microsoft Partner Competency Award for Hedge Fund Industry Expertise
Source: PR Web
Incremax, a Greater New York business-savvy technology consultancy of Microsoft product solutions, is proud to be awarded Microsoft's Third Quarter New York/New Jersey Area Partner Award for Competency in understanding the scalable infrastructure, information productivity and custom business applications that drive both Fixed-Income and Equity Hedge Fund management firms. More...

Merkel calls for progress on hedge funds, Doha trade round
Source: The Nation
German Chancellor Angela Merkel on Thursday reiterated her call for increased transparency among hedge funds and for progress in the stalled Doha round of world trade talks. More...

Hedge fund becomes LBO matchmaker
Source: MarketWatch
Which companies could be snapped up next in the private-equity buyout boom that's sweeping the stock market?

A look at some of the holdings of the Private Value Arbitrage Fund LP, a $30 million hedge fund run by Helzberg Angrist Capital LLC, may offer some clues. More...

Why hedge fund managers outearn doctors
Source: BloggingStocks
A few months ago a doctor asked me why hedge fund managers make more money than he and his colleagues. After all, Doctor, when used before a name, is capitalized, while hedge fund manager isn't. While I'm joking about the capitalization -- it does reflect the much greater level of societal acclamation doctors receive from the moment they set their minds on an MD to their obituaries. So why doesn't societal acclamation translate into money? More...


Today's Stories unabridged on the web
 

 
   Today's Humor

The man told his doctor that he wasn't able to do all the things around the house that he used to do. When the examination was complete, he said, "Now, Doc, I can take it. Tell me in plain English what is wrong with me."

"Well, in plain English," the doctor replied, "you're just lazy."

"Okay," said the man. "Now give me the medical term so I can tell my wife."

 

 |  Privacy Notice  |  Terms Of Use  |