Options-based Strategies and their Pay-offs
Roberto Obregon, of the Meketa Investment Group, has written a paper (available at SSRN) on the use of options-based equity strategies. Obregon is the author of a number of scholarly papers on...
View ArticleFunds Use Public Info to Complement Private Signals
Alan D. Crane and two colleagues have written a paper on whether and how hedge funds profit from publicly available information, in particular from SEC filings. Crane is an assistant professor at...
View ArticleâYou Kick Itâ and the Alternative Investment Industry
The Alternative Investment Management Association, the London-based organization representing the interests of the worldâs alternative investment industry, has issued a new whitepaper about the...
View Articlein-i-fish-uh nt (adj.)Â
By Bill Kelly, CAIA CEO In the good old days of bound books, a dictionary and thesaurus were de rigueur desktop accessories, no matter your stock-in-trade. It is hard to argue with theÂ...
View ArticleUnderstanding the Surge in Appraisal Remedies
A new paper by Alexandros L. Seretakis takes a comparative look at appraisal rights in the United States and the European Union, noting along the way that this familiar legal protection mechanism for...
View ArticleOil Price Shocks and Economic Growth
The U.S. is withdrawing from a multilateral agreement with Iran that was aimed at dissuading the Iranian regime from further progress toward nuclearization. In the meantime, the U.S. and its allies...
View ArticleDONâT FEAR THE ROBO!
By Diane Harrison Technology advances have infiltrated every corner of finance, including the world of wealth management. While few can argue with the positives of automated, algorithm-based portfolio...
View ArticleAIMAâs Vision Statement from Hedge Fund Industry Leaders
Some of the leading figures in the alt investment industry have put their dignified heads together and created a vision statement, called âPerspectives: Industry Leaders on the Future of the Hedge...
View ArticleToo Big Too FrailÂ
By Bill Kelly, CAIA CEO The most intractable challenges in society, and life, sometimes subsist in a state of duality. The size and scale of the downside are enormous and almost paralyzing if...
View ArticleWhat Constitutes Price Manipulation?
The two commissions that serve as market enforcers in the United States, the Commodity Futures Exchange Commission and the Securities Exchange Commission, agree on a lot. (As, indeed, one would hope,...
View ArticleWisdomTree on the Success of its Rate-Hedge Agg Suite
The path to higher rates has not been a smooth one, but interest rates in the United States are now higher than they have been since the global financial crisis and they may well become higher than...
View ArticleChina-US Trade War and Other Worries
The Eurekahedge April 2018 report says that hedge funds were down in the first quarter of the year (-0.13%). This is the industryâs worst performance since Q1 2016. The steepest performance-based...
View ArticleThe Role Dividends Can Play in International Equity Investing
Summary Dividend yielding stocks can make a meaningful contribution to a portfolio in international markets as well as domestic. Higher returns are not always associated with higher risk. High dividend...
View ArticleRevising the ICAPM to Reflect Effects of Style Investing
A recent paper by Michael Stutzer, of the University of Colorado at Boulder, Leeds School of Business, suggests that the intertemporal version of the capital asset pricing model (ICAPM) needs some...
View ArticleThoughts on the European Regulation on Short Selling
A new paper by Marco DellâErba and Giovanni Patti takes a look at a recent crisis involving the stock of the Monte dei Paschi di Siena (MPS), as a way of studying the pragmatics of the European...
View ArticleThe CBOE and VIX: The Appearance of Manipulation
On April 23, 2018, the chairman and the president of the Chicago Board Options Exchange issued an open letter to address concerns that the CBOE Volatility Index (VIX) is subject to manipulation. There...
View ArticleCrowdfunding in the Absence of Liquidity Constraints
A forthcoming issue of the Journal of the European Economic Association will carry a study arguing that crowdfunding in the absence of liquidity constraints is a superior method of equity...
View ArticleDistressed Digital Exchanges as Buyout Targets
Tanzeel Akhtar has written a story for BraveNewCoin in which she discusses the availability of distressed digital exchanges as a means by which large companies can cheaply gain their own toeholds in...
View ArticleA Microfinance Fund for Central Java, Indonesia
Blossom Finance, an investment consultancy that describes its business model as âcommercial financing with social benefits,â announced recently open enrollment for an Islamic microfinance fund...
View ArticleOperating Expenses, Strategies, and Scale
Meketa Investment Group has issued a paper on the state of hedge fund operating expenses, the point of which is to offer actual and potential fund investors and their managers alike a benchmarking...
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