Funds Hub
Money managers under the microscope
from Reuters Money:
The year’s best and worst ETFs
The best investments often don't have the highest returns. I know this is heresy to most, yet mass behavior can be a siren song.
About this time every year, we gaze intently at our portfolios, hoping against hope that we did something right. Sometimes we get lucky.
Two years ago, we didn't even want to open the envelope containing the bad tidings of the market meltdown. I kept my mutual fund statements sealed that year.
This year, there's some palpably good news to spread around, although it doesn't necessarily involve the best-performing investments.
Morning Line-Up: Rich desert hedgies, Calpers seeks cash injection
News and views on the fund industry from Reuters and elsewhere:
Hedge funds rely less on the rich - Reuters
UK platform reforms inconsistent with RDR, says Cofunds - Fund Strategy
Calpers asks for more money - Reuters
Investors prefer ETFs to index funds - Fund Strategy
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Will ETFs replace hedge funds?…. No – Seeking Alpha
Hintze the Prince’s philanthropist – Bloomberg
Hedgies to top stocks, bonds in 2010 – Reuters
Calpers probes hedge fund advisors – LA Times
Managed futures on the rack – Reuters
Morning Line-Up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Galleon paid banks millions for ‘edge’- FT
KI hedgie said to be linked to FBI money – laundering sting – Bloomberg
Asian team at hedgie Stark quit to launch Orchard – Reuters
Griffin rebounding from loss builds bank to rival Goldman – Bloomberg
Bearish Bullman
Stocks may have enjoyed a huge rebound this year (the S&P 500 is up 50 pct from its March low), but the rally is based on speculation, according to one hedge fund firm.
Bullman Investment Management, which runs a global macro fund, has just put on short positions on the S&P and the financials sector via ETFs, manager Nick Bullman told me.
from Global Investing:
Just another Snark hunt?
The Lewis Carroll poem The Hunting of the Snark (An Agony in 8 Fits), follows the misadventures of a group of seafarers, amongst them a banker and a broker, as they search for the elusive mythical beast. We are warned at the outset that catching Snarks is all well and good, but beware if your Snark is a Boojum, because - well, we'll come to that.
Alpha looks set to become as equally elusive in the next 20 to 30 years as investors switch to passive investing and exchange-traded funds (ETFs) in greater numbers, and the amount of information available to all market participants increases.
