Upon reflection, August felt as if the differentiation that has marked markets the last few months began to reverse as global macro factors appeared to take precedence, at least since the middle of the month. This is not due to a convergence of economic news (US appears to be slowly…
The short answer is…we’re not sure, but by the time we realize it, it may be too late. In order to get a bit of perspective on historical volatility, below is a very informative chart prepared by FT Alphaville that gives the ten lowest and ten highest observations of volatility…
The June trend towards differentiating markets continued in July, with the US putting up some better economic numbers, Europe putting up some worse economic numbers and Asia holding out the possibility of recovery. One can see this play out in the stock markets to a certain extent, with the S&P…
When I was starting a hedge fund 18 months ago, I knew right from the beginning that I needed to build a consistent, positive track record that would allow me to demonstrate my ability to successfully manage risk, while creating alpha. Investors and fund allocators typically look for a superior…