tag:blogger.com,1999:blog-10633680476109402832024-03-08T00:26:29.072-05:00Red Sky Fund | redskyfund.comRed Sky Fund, redskyfund.comUnknownnoreply@blogger.comBlogger28125tag:blogger.com,1999:blog-1063368047610940283.post-84988841650472832432014-10-19T15:39:00.000-04:002014-10-19T15:52:46.108-04:00AIFMD Webcast, Alternative Investment Fund Managers Directive<iframe frameborder="0" height="470px" id="spreecast-player" src="http://www.spreecast.com/events/aifmd-what-u-s-pe-firms-need-to-know--2/embed-large" type="text/html" width="100%"></iframe>
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<a href="http://www.spreecast.com/" rel="nofollow" target="_blank">Spreecast</a> : <a href="http://www.spreecast.com/events/aifmd-what-u-s-pe-firms-need-to-know--2" rel="nofollow" target="_blank">AIFMD: What U.S. PE Firms Need to Know</a><br />
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In July of 2014, Europe’s Alternative Investment Fund Managers Directive officially took effect, with wide-ranging implications for U.S. private equity firms that want to pitch new funds to European investors in the months and years ahead. Laura Kreutzer, editor of the team that produces Private Equity Beat, and private equity professionals, leads a discussion of how this sweeping regulation will impact U.S. private equity firms. Speakers: Molly Diggins, general counsel, Monument Group; and Greg Pusch, director of global regulatory compliance and chief compliance officer, HarbourVest Partners LLC.<br />
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<a href="http://en.wikipedia.org/wiki/Alternative_Investment_Fund_Managers_Directive" rel="nofollow" target="_blank">Alternative Investment Fund Managers Directive - Wikipedia</a>:<i> "The Alternative Investment Fund Managers Directive 2011/61/EU ("AIFMD") is a European Union Directive that entered into force on 22 July 2013. The Directive regulates: EU fund managers that manage alternative investment funds (essentially hedge funds and private equity funds) ("AIFs") (wherever they are based); fund managers (wherever they are based) that manage AIFs established in the EU; and fund managers (wherever they are based) that market the units or shares of an AIF in the EU...."</i><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-48859613405484050432014-01-26T13:43:00.002-05:002014-01-26T13:43:47.385-05:00Hedge Fund, Private Equity, Tweets<a class="twitter-timeline" data-widget-id="427511737584058368" href="https://twitter.com/search?q=hedge+fund+OR+private+equity">Tweets about hedge funds, private equity</a><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-2453369218640464042014-01-26T06:30:00.000-05:002014-01-26T06:30:00.783-05:00Hedge Fund Startup Investors ReturnGood news for technology start-ups --<br />
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<a href="http://techcrunch.com/2014/01/18/the-rise-of-the-hedge-fund-startup-investor-again/" rel="nofollow" target="_blank">The Rise Of The Hedge Fund Startup Investor (Again) | TechCrunch</a>: "...And Coatue and Tiger Global aren’t the only hedge funds to jump into the private markets tech-investing game of late. Altimeter has been backing private tech companies for the past few years. Valiant Capital Partners has backed Dropbox, Evernote, and Pinterest in the past two years. Maverick Capital has participated in a few seed deals, including Zenefits in 2013. And the fund isn’t just going after growth-stage funding. In December, the firm participated in a seed round in Estimote, which develops beacons...." (read more aat the link above)<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-32929961550598604602014-01-20T00:00:00.000-05:002014-01-20T00:00:00.624-05:00Have a Process, Seek Continual Improvement1) Process; 2) Continual Improvement --<br />
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<a href="http://www.bloomberg.com/news/2014-01-02/are-all-traders-useless-morons-.html" rel="nofollow" target="_blank">Are All Traders Useless Morons? - Bloomberg</a>: "... Harmon bluntly discusses the importance of modesty in pursuing investing success: I find it more interesting when some manager makes a killing and convinces themselves that they are geniuses. No one in this game is a genius. 100% return sucks remember? When you dig into more of these people, the elite suckers, the ones that can do it again and again, they all have one thing in common. It is not that they are on television and have great hair. Have you noticed that they usually are a bit modest about their results? <b>The one thing they have in common is that they all have a process and are continually trying to improve it.</b> That sums it up perfectly for me: <u>One, have a process, and two, constantly try to improve it."</u><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-27016377986733563912014-01-12T07:00:00.000-05:002014-01-12T07:00:01.365-05:00Private Equity, Hedge Funds, Venture Capital firmsWhat's the difference? <i>Read on --</i><br />
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<a href="http://www.buzzfeed.com/mariahsummers/everything-you-always-wanted-to-know-about-the-stock-market" rel="nofollow" target="_blank">Everything You Always Wanted To Know About The Stock Market But Were Too Afraid To Ask</a>: "A <b>private equity company</b> invests in the stock of a company, often with the intention to later sell or raise the stock price over time as a part of a fund it constructs for its own investors. It also buys public companies and takes them private, and buys private companies and takes them public. <b>A hedge fund</b>, while similar, requires investors be accredited and has access to what are often even more exclusive investments than any other sector. Because of the nature of hedge funds operating in high level investments with a large amount of money, it is more difficult to get your money out of a hedge fund. They are more illiquid investment vehicles for highly sophisticated investors. <b>Venture Capital firms</b> focus on startups and provide early investment in what are usually higher risk entities than average stocks and private equity opportunities due to the embryonic nature of the companies they are funding...." (read more at the link above)<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-89217063035969753072014-01-05T06:30:00.000-05:002014-01-05T06:30:00.880-05:00Institutional Investing: Value OR Trips to New York and Silicon Valley? <div>
Going forward, think about why you are doing what you are doing --</div>
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<i>You can add value without constantly searching for uncorrelated alpha with low downside volatility.(source infra)</i></div>
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<a href="http://www.ritholtz.com/blog/2013/12/confessions-of-an-institutional-investor/" rel="nofollow" style="font-style: normal;" target="_blank">Confessions of an Institutional Investor | The Big Picture</a> </div>
"....Why do most institutions in invest this way? </i>[hedge funds]<br /><i>1. It’s Interesting</i><br /><i>What sounds more stimulating as an allocator of capital?</i><br /><i>a) Traveling to New York, Silicon Valley and London for “due diligence” trips to meet with hedge fund, private equity and venture capital managers, getting wined and dined with free food and booze while getting to hear about complicated strategies, alpha, new technologies and ‘what sets us apart.’</i><br /><i>or</i><br /><i>b) Finding undervalued asset classes, markets and sectors at a low cost, to achieve a broad diversification and earn multiple streams of beta. You can imagine why most institutional investors choose option a). Don’t get me wrong, these trips are a great perk of the job, but I’m not sure how valuable they are for the organization....2. They Think It’s Their Job to Outperform. . . ." (Read more at the link above)</i><br /><div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-23209959183624011322013-12-29T06:30:00.000-05:002013-12-29T06:30:00.119-05:00Institutional Investors, Recipes for DisasterThis is the end of the year -- time to reflect, realize mistakes, plan for the future --<br />
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<a href="http://www.ritholtz.com/blog/2013/12/confessions-of-an-institutional-investor/" rel="nofollow" target="_blank">Confessions of an Institutional Investor | The Big Picture</a>:<i> "....There are many organizations with large portfolios that could benefit from a more conventional philosophy. Many of my peers in the institutional investment industry that I talk to have up to 50, 60 even 70% of their portfolios in alternative investments. This is <u>a recipe for disaster</u>.... Making contributions to hedge funds is easy. They want your money, so you can usually invest on a monthly basis without much notice. But try getting your money out. You usually need at least 90 days’ notice and even then you can only redeem on a quarterly or annual basis. If you decide to cut ties with the fund altogether and redeem all of your capital you typically only get 80-90% of your money back from the hedge fund at redemption. The other 10-20% “holdback” doesn’t come back to you until the hedge fund’s annual audit which could be up to a year later. So you are forced to sit and wait as your money earns nothing while they make sure the NAV is correct. <u>Contrast this with index funds and ETFs that are priced every second of the trading day</u>. If your hedge fund closes for any reason you get to see the true colors of the <u>illiquid crap</u> these guys are really investing in. Hedge funds can close because of the loss of large investors, untimely investments or simply bored managers that have more than enough money and are sick of meeting client expectations...." (emphasis added)</i><br />
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Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1063368047610940283.post-54632181653879341282013-12-22T06:30:00.000-05:002013-12-22T06:30:00.407-05:00Complex Must Be Better?<a href="http://www.ritholtz.com/blog/2013/12/confessions-of-an-institutional-investor/" rel="nofollow" target="_blank">Confessions of an Institutional Investor</a> ".... <i>3. They Assume Complex Must be Better - </i><i>The investors that run these portfolios are highly educated individuals who are very intelligent. It’s <u>hard for them to admit that the simple solution makes the most sense.</u> Being able to understand complex strategies makes them think they are superior to index funds and ETFs. There is false sense of security when you spend your time talking with brilliant, wealthy alternative managers."</i><br />
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One of the biggest myths -- from Wall Street to Inside the Beltway -- "complex is better" -- and OMG! don't let the lawyers get involved -- if you find a lawyer or investment advisor who understands that simple is better, hang on to him/her, they are worth their weight in gold! Ask <a href="http://articles.chicagotribune.com/2013-01-14/business/ct-biz-trib-series-2-20130114_1_zell-s-tribune-zell-and-tribune-sam-zell" rel="nofollow" target="_blank">Sam Zell about the<i> complex</i> deal from hell</a> that a bunch of lawyers and financial gurus concocted for him!<br />
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And how about that Obamacare website - healthcare.gov? By the time all the bureaucrats and <i>Obamacrats inside the beltway</i> got done with their <i><a href="http://www.npr.org/blogs/alltechconsidered/2013/11/19/246132770/this-slide-shows-why-healthcare-gov-wouldnt-work-at-launch" target="_blank">waterfall specs</a> - </i>it was bound to fail. $500 million wasted, when a $5 million dollar (and that's being <i>generous</i>) investment in a website built on the Google Cloud or AWS, would have accomplished the essential tasks competently on Day 1!<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-6098159056030303502013-12-15T06:30:00.000-05:002013-12-15T06:30:00.144-05:00Stanley Druckenmiller, his investment strategy (video)<script src="http://player.ooyala.com/player.js?embedCode=d5dTJsaDo_QyAeSzgg9zfsmIbDWTzYV-&playerBrandingId=8a7a9c84ac2f4e8398ebe50c07eb2f9d&width=640&deepLinkEmbedCode=d5dTJsaDo_QyAeSzgg9zfsmIbDWTzYV-&height=360&thruParam_bloomberg-ui[popOutButtonVisible]=FALSE"></script><br />
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Stanley Druckenmiller, founder of Duquesne Capital Management LLC, talks about his investment strategy including his decision to bet against the shares of International Business Machines Corp. He speaks with Stephanie Ruhle at the Robin Hood Investors Conference in New York on Bloomberg Television's "Money Moves." (Source: Bloomberg Nov. 22,2013 )<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-81755150225233892702013-12-08T15:58:00.002-05:002013-12-08T15:58:26.348-05:00Hiding in Plain Sight, SEC Form D filings<i>Due Diligence my friends --</i><br />
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<a href="http://finance.fortune.cnn.com/2013/11/06/twitter-investor-trick/" rel="nofollow" target="_blank">How Twitter's largest outside investor tricked me - The Term Sheet: Fortune's deals blogTerm Sheet</a>: <i>"He said it was an old trick he had learned during his Google days, when scoping out locations for the company's first large data centers. Find the most pedestrian-sounding names in the hopes that no one would take a second look. Each day I skim the latest SEC Form D filings. And there's a 99% chance that I saw both Institutional Associates Fund LLC and Compliance Matter Services LLC, without choosing to click on either one. Particularly galling is that the new SEC reporting requirements forced Sacca to reveal all of this in IAPD filings, but I never thought to look at those either (despite the rumors of his Twitter-related fundraising prowess). So I tip my cap to the man who tricked me. And vow to not let it happen again (although, for all I know, he's doing it as I write this)."</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-50503360381601725802013-12-02T00:00:00.000-05:002013-12-02T00:00:00.973-05:00The Mutual Fund Swap or Swindle?Caveat Emptor! --<br />
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<a href="http://www.ritholtz.com/blog/2013/11/the-mutual-fund-swap/" rel="nofollow" target="_blank">The Mutual Fund Swap | The Big Picture</a>:<i> " . . . This new fund earns him a cool 5.75% of what is left. How can he do this you say? Because his compliance officer is not really going to bat an eye because he is not taking you from one 5.75% mutual fund to another, instead it is a totally different product he is switching you out of. Awesome, you are that much closer to being ready for your golden retirement now! This sort of crap goes on every single day, all day, across this country . . ."</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-54162560367517155142013-11-24T06:30:00.000-05:002013-11-24T06:30:00.376-05:00Investors, Hedge Funds, Low Returns<a href="http://www.ft.com/intl/cms/s/0/bd5b8bb0-4acb-11e3-8c4c-00144feabdc0.html?siteedition=intl#axzz2kTwpdqLF" rel="nofollow" target="_blank">Investors need to starve the hedge fund beast - FT.com</a>: " . . . Hedge funds are extraordinarily expensive to run. Huge sums are needed to hire the skilled traders and analysts upon whose judgment their fortunes depend. And that is before the IT and other information costs a hedge fund incurs, let alone the fees it pays to intermediaries, especially investment banks. Unsurprisingly, these costs bear heavily on the returns received by investors. In a book published last year, Simon Lack, an investor, estimated that since the 1990s, the fees charged by hedge funds and funds of funds had eaten roughly 98 per cent of the returns they made. . . ." (read more at link above)<br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1063368047610940283.post-71131847243790782842013-11-17T07:00:00.000-05:002013-11-17T07:00:00.060-05:00Hedge-Fund Advertising, Investors, Warnings<a href="http://online.wsj.com/news/articles/SB10001424052702304626104579123340998018948" rel="nofollow" target="_blank">Hedge-Fund Advertising: Will It Be Good or Bad for Investors? - WSJ.com</a>: "<i> . . . . Advertising Could Open Up Investment Options—Eventually - . . . it will be interesting to see how the lifting of the ban on hedge-fund advertising may cause other changes in the traditional hedge-fund industry. . . ."</i><br />
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<a href="http://online.wsj.com/news/articles/SB10001424052702304626104579121372035051000" rel="nofollow" target="_blank">Hedge Fund and other Fund Advertising: Warning Signs for Investors - WSJ.com</a>:<i> "Past performance is not indicative of future returns. That statement is so true that the Securities and Exchange Commission requires that it be included in every mutual-fund prospectus. So I get nervous when I see an ad for a fund that touts performance. . . ." (read more at links above)</i><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-39547200322689019302013-11-10T07:00:00.000-05:002013-11-10T07:00:00.477-05:00James Bullard on Tapering, Federal Reserve, Markets<div style="-x-system-font: none; display: block; font-family: Helvetica,Arial,Sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; margin: 12px auto 6px auto;">
<a href="http://www.scribd.com/doc/180748419" rel="nofollow" style="text-decoration: underline;" target="_blank" title="View Bullard Nov Prez.pdf on Scribd">Bullard Nov Prez.pdf</a></div>
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-75406552401458589122013-11-04T00:00:00.000-05:002013-11-04T10:46:30.335-05:00Pay Millions, Lag the Market<i>Rhode Island’s pension investments in hedge funds have trailed returns earned by the Standard & Poor’s 500-stock index and have cost the state $70 million in fees in a single year.</i><br />
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<a href="http://www.nytimes.com/2013/10/20/business/how-to-pay-millions-and-lag-behind-the-market.html?smid=pl-share" rel="nofollow" target="_blank">How to Pay Millions and Lag Behind the Market - NYTimes.com</a>: " . . . Fans of alternative investments argue that they can generate higher returns. But the increased risks, higher fees and lack of transparency associated with such investments make them problematic. A 2007 paper by Fiona Stewart at the Organization for Economic Cooperation and Development in Paris said that “lack of transparency makes the level of risk and type of exposure hard to gauge” in hedge funds. . . ."<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-59710968498180481672013-10-27T07:00:00.000-04:002013-10-27T07:00:00.511-04:00Meredith Whitney Trades Brokerage Firm for Investment Fund<a href="http://dealbook.nytimes.com/2013/10/09/meredith-whitney-appears-to-be-trading-brokerage-firm-for-investment-fund/?_r=0" rel="nofollow" target="_blank">Meredith Whitney Appears to Be Trading Brokerage Firm for Investment Fund - NYTimes.com</a>: <i>" . . . . Ms. Whitney seems poised to move onto her next venture. According to Finra records, Ms. Whitney is the managing principal of Kenbelle Capital, a “long/short” fund. And according to a legal notice published in The Royal Gazette, Bermuda’s main newspaper, Kenbelle Capital has applied for a permit to “engage in or carry on trade or business in Bermuda.”" (read more at link above)</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-35592433232844512082013-10-20T07:00:00.000-04:002013-10-20T07:00:00.703-04:00Hedge Funds, Due Diligence, Before You Invest<a href="http://online.wsj.com/article/SB10001424052702303759604579093351961596002.html" rel="nofollow" target="_blank">How to Look Under a Hedge Fund's Hood - WSJ.com</a>: <i>"Now that hedge funds are allowed to advertise their wares in the marketplace, it will be important for investors to understand this sophisticated asset. If you meet the income or asset minimums required to invest, hedge funds can be a good way to diversify your portfolio and achieve impressive risk-adjusted rates of return. But hedge funds may require high minimum investments and can lock up your money for months. Because of the funds' private nature, there is also increased potential of fraud. Before giving the green light to your financial adviser or handing your money directly to a hedge-fund manager, here are seven key questions to ask . . . ." (read more at link above)</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-8553506516655733562013-10-13T07:00:00.000-04:002013-10-13T07:00:01.729-04:00Startups, Crowd Investing<a href="http://www.technologyreview.com/news/519526/crowd-investing-is-the-new-way-to-finance-technology-development/?utm_campaign=newsletters&utm_source=newsletter-weekly-business&utm_medium=email&utm_content=20130927" rel="nofollow" target="_blank">Crowd Investing Sites Start Offering Shares in Startups | MIT Technology Review</a>:<i> "With crowd investing, however, people will actually be buying shares in new companies. For now, the U.S. Securities and Exchange Commission, which regulates financial markets, is limiting crowd investing to accredited investors, or people with $1 million in the bank or who earn more than $200,000 a year. However, the SEC is developing other regulations, due out next year, that would let any member of the public invest small sums in startups."</i><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-66116344639313515972013-10-06T07:00:00.000-04:002013-10-06T07:00:01.601-04:00FOIA Requests, Hedge-Fund Profits<a href="http://online.wsj.com/article/SB10001424127887324202304579053033444112314.html" rel="nofollow" target="_blank">Open-Government Laws Fuel Hedge-Fund Profits - WSJ.com</a>:<i> " . . . Some investors and officials at companies that make FOIA requests on investors' behalf said in interviews that hedge funds and other Wall Street firms are increasingly using the open-records system to gather information relevant to investment decisions. They said FDA reports about pharmaceutical companies are of particular interest. One of the quirks of the process is that the first person to ask for something is typically the first to get it—an incentive to dig for valuable information quickly, and an irritant to those who say all investors should get it at once. . . ."</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-16179487690613523932013-09-29T07:00:00.000-04:002013-09-29T07:00:01.203-04:00Startup Fundraising, General Solicitation, Accredited Investors<a href="http://techcrunch.com/2013/09/21/why-you-need-to-pay-attention-to-general-solicitation/" rel="nofollow" target="_blank">Why You Need To Pay Attention To General Solicitation | TechCrunch</a>: <i>"On Monday (September 23), the legal framework for startup fundraising will change. Because of the JOBS Act, you will be able to publicly announce that you’re raising. This is not crowdfunding — you still have to raise from accredited (“rich”) investors. But, by raising in public, you will have to work harder to verify that your investors are accredited. . . . "</i> (read more at link above)<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-25886843916113754972013-09-22T07:00:00.000-04:002013-09-22T07:00:00.674-04:00Past performance has no predictive value<i>“Past performance is no guarantee of future results.” -- Past performance has no predictive value.</i><br />
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<a href="http://www.thinkadvisor.com/2013/08/26/why-investment-performance-is-a-distraction" rel="nofollow" target="_blank">Why Investment Performance Is a Distraction</a>: <i>"There are no fringe groups of investors or scholars penning op-ed pieces in the Wall Street Journal shooting holes in the logic of this reality. Each year there is more data, and each year that <b>data reconfirms that past performance is completely unreliable as an investment tool.</b> Given all that, you would think it would be next to impossible to find any serious investors still using past performance as a guideline. Indeed, that would be a logical conclusion . . . The alternative, evaluating and observing the managers and their process, is far more subjective and the results are not nearly as straightforward. But process is a much better predictive tool in the search for future success—and the most successful people in their fields focus on it and only it. . . ." (read more at link above)</i><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-34449860943044678692013-09-15T07:00:00.000-04:002013-09-15T07:00:03.539-04:00Exchange Rates, Continuous-Time Models<div style="-x-system-font: none; display: block; font-family: Helvetica,Arial,Sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; margin: 12px auto 6px auto;">
<a href="http://www.scribd.com/doc/161423989/2013-024" rel="nofollow" style="text-decoration: underline;" target="_blank" title="View 2013-024 on Scribd">2013-024</a> by <a href="http://www.scribd.com/caitlynharvey" rel="nofollow" style="text-decoration: underline;" target="_blank" title="View caitlynharvey's profile on Scribd">caitlynharvey</a></div>
<iframe class="scribd_iframe_embed" data-aspect-ratio="0.706896551724138" data-auto-height="false" frameborder="0" height="600" id="doc_81619" scrolling="no" src="//www.scribd.com/embeds/161423989/content?start_page=1&view_mode=scroll&show_recommendations=true" width="100%"></iframe><br />
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source: <a href="http://www.scribd.com/doc/161423989/2013-024" rel="nofollow" target="_blank">http://www.scribd.com/doc/161423989/2013-024</a><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-48434222558560108912013-09-08T07:00:00.000-04:002013-09-08T07:00:00.418-04:00Hedge Funds Severely Underperform<a href="http://blogs.wsj.com/moneybeat/2013/08/21/hedge-funds-severely-underperforming-this-year/" rel="nofollow" target="_blank">Hedge Funds Severely Underperforming This Year - MoneyBeat - WSJ</a>: <i>"Hedge funds typically shine when markets struggle and underperform during long rallies, largely because they hedge their bets to try to generate steady performance. But the gap this year has been wider than usual. Fewer than 5% of the hedge funds that Goldman monitored have outperformed the S&P 500 this year, while about 25% of these funds have posted absolute losses. Goldman’s analysis tracked the investments of 708 hedge funds that had $1.5 trillion of gross equity positions ($1 trillion long and about $500 billion short) as of the beginning of the third quarter. Google Inc.’s shares were the most widely held by hedge funds, followed by Apple and AIG. Citigroup and General Motors rounded out the top five, according to Goldman" (read more at link above)</i><br />
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<script src="http://platform.twitter.com/widgets.js" type="text/javascript"></script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-82541615811014553612013-09-01T07:00:00.000-04:002013-09-01T07:00:09.634-04:00Hedge funds reinvent themselves<i>New York and London-based hedge fund managers are returning external money to investors and restructuring as family offices in a bid to avoid regulatory scrutiny. Single family offices are exempt from Dodd-Frank regulation in the US and the <a href="http://www.ft.com/cms/s/0/5440645e-f074-11e2-929c-00144feabdc0.html" rel="nofollow" target="_blank">Alternative Investment Fund Managers Directive</a> in Europe, which aim to improve investor protection. Both sets of regulation have raised compliance and reporting costs for hedge fund managers . . .(source infra)</i><br />
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<a href="http://www.ft.com/intl/cms/s/0/3106417e-fb60-11e2-8650-00144feabdc0.html#axzz2bD47xzv0" rel="nofollow" target="_blank">Hedge funds copy Soros’s regulatory sidestep - FT.com</a>: <i>"The lawyer estimated that hundreds of London-based fund managers may choose to take this route in order to “reinvent themselves and avoid all of the additional regulation”. Mr Donovan-Smith said the motivation for these hedge funds was to avoid increased costs, rather than resistance to providing extra disclosure." (read more at link above)</i><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1063368047610940283.post-52426638642650434112013-08-22T02:33:00.001-04:002013-08-22T02:33:44.605-04:00Investing and MetaCognition by Barry Ritholtz <div style="-x-system-font: none; display: block; font-family: Helvetica,Arial,Sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: normal; font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; margin: 12px auto 6px auto;">
<a href="http://www.scribd.com/doc/161897058/NYU-August-2013" style="text-decoration: underline;" title="View NYU August 2013 on Scribd">NYU August 2013</a> by <a href="http://www.scribd.com/caitlynharvey" style="text-decoration: underline;" title="View caitlynharvey's profile on Scribd">caitlynharvey</a></div>
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MetaCognition & the MBA Student (NYU, August 19, 2013) by Barry L. Ritholtz<br />
Source: <a href="http://www.scribd.com/doc/161897058/NYU-August-2013" rel="nofollow" target="_blank">http://www.scribd.com/doc/161897058/NYU-August-2013</a><br />
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