Monthly Archives: September 2017
Bitcoin Should Be Valued at Half of What It’s Worth Today: Mohamed El-Erian
(CNBC) Bitcoin, which has surged roughly 300 percent in 2017, is certainly a “disruptive” technology but won’t see widespread use, economist Mohamed El-Erian said Wednesday. “The current pricing assume massive adoption, and I don’t think governments will allow the amount […]
Harvey Will Reflect in Economic Data as Growth—That Might Mislead the Fed into Another Policy Error
(Harvest) Hurricane Harvey wreaked havoc on South Texas and Louisiana. As a lifelong Texan, I have many friends in that region. They’ve lived through many storms and normally take what nature throws at them in stride. Not this time. I […]
What’s Wrong With Low Volatility?
(Harvest) Overall volatility of financial markets recently has been very low. The problem with that, argues Jeff Knight, is that this environment could tempt investors to position portfolios too aggressively. To read this article:
As Perceived Risks Rise, Limited-Term US Government Funds Offer Shelter
(Harvest) Most U.S. risk asset prices have enjoyed a long ride higher amid slow-but-steady economic growth, scant inflation and still ample central bank monetary support. But if fund flows are any indication of where portfolio managers expect markets to go, […]
BarclayHedge BTOP50 Index Returns 1.87% in August
(Opalesque) Managed futures traders showed solid gains of 1.87% in August according to a flash estimate of the BarclayHedge BTOP50. For the year to date period, the index is down 2.39%.”Managed futures had its best month of the year and […]
Tiger Management’s Robertson Says ‘We Are Creating a Bubble’ in Stocks
(CNBC) Hedge fund legend Julian Robertson Jr. sees stock market valuations as “very high” and worries about a bubble forming. The Tiger Management founder made the comment Tuesday at the Delivering Alpha conference presented by CNBC and Institutional Investor. Central […]
Jamie Dimon Slams Bitcoin as a ‘Fraud’
(Bloomberg) JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he would fire any employee trading bitcoin for being “stupid.” The cryptocurrency “won’t end well,” he told an investor conference in New York on Tuesday, predicting it will eventually […]
Survey: 45% Of Managers Have Lost Money Or Missed Trades Because Of Bad Event Data
(FINalternatives) Nearly half of institutional investors have lost money or missed a trade because of incorrect or incomplete corporate event information, according to a new survey from alternative data provider Wall Street Horizon, with 40% experiencing five-figure losses on single […]
Kynikos’ Chanos Says he is Shorting Continental Resources
(Reuters) Kynikos Associates LP founder James Chanos on Tuesday said he is betting against Continental Resources Inc and other oil and gas exploration and production companies. Chanos, a closely-watched investor, said the company struggles to generate cash even in favorable […]
Goldman Cuts Smart-Beta Fees to a New Level
(Bloomberg) Goldman Sachs Group Inc. isn’t known for its largesse, but when it comes to exchange-traded funds the Wall Street giant is almost giving handouts to its customers. The firm’s asset management arm is now offering some of the cheapest […]
Gondor Capital Management’s Hedge Funds Outperform in August
(Hedgeweek) Gondor Capital Management, the New York-based hedge fund management firm founded by Vincent Au, has continues its winning streak with its two funds generating positive returns in August. Au says that his domestic Gondor Partners LP generated a 1.07 […]
Boaz Weinstein Warns Investors to Avoid Junk Bonds, Especially for Retailers
(CNBC) Saba Capital’s Boaz Weinstein said the high yield debt market is overvalued and as a result he is betting against the bonds of retailers and hospitals. “Let’s unpack high yield … the reward isn’t there” given the risk, Weinstein […]