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The costs of alpha
Kenneth French, of Fama-French fame, has drawn attention for a working paper that calculated the cost of trying to generate alpha. The New York Times relates how the Dartmouth finance professor Read more...
Will active ETFs storm the fund market?
It seems like we've been talking about the rise of actively managed exchange traded funds for a long time. But only now are they Read more...
How Kervial did it
The question on everyone's mind is: how did he do it? Societe Generale believes that, Jerome Kervial placed large long bets in one portfolio and then created fake hedges in another portfolio. So Read more...
Really, a 130/30 index?
The hedge fund industry has been innovating to deliver a range of lower costs products and we've noted the rise of passive funds. But here's question: can one create an index for Read more...
A new Jim Cramer?
Jim Cramer got famous not so much as a hedge fund manager but as a pundit. A mad, whacked out, highly entertaining one who benefited nicely from the stockpicking-as-sport craze. But now in his new Read more...
Smart money flocking to...
So after the credit crunch stuck it to a lot of hedge funds (short-term anyway), where is the hot money flowing? Well, most of the top commodity indexes have fared well lately. And, according to Read more...
More on passive hedge fund strategies
The movement to create investable hedge fund indexes has certainly gathered steam over the last few years. So much so that debate is cropping up about how to deploy the strategy. It's fair to say Read more...
CalPERS wants better returns--soon
When your assets get to a certain size, there is one view that holds you can't really expect stock gains over and above beta. CalPERS apparently does not subscribe to that view. Its stock gains have Read more...
Morgan Stanley's big one-day loss: $395 million!
According to a recent SEC filing, Morgan Stanley's quant traders lost a cool $395 million in a single day in August. Ouch. That's got to be some sort of record. Goldman Sachs also got hit by the Read more...
Bear Stearns to launch new hedge fund index
Financial News Online reports that Bear Stearns has launched an index that it claims is the first to allow customers to passively invest in risk-arbitrage strategies. The index includes companies Read more...