For some reason I get a copy of Your Trading Edge sent to me on a regular basis and generally after a quick scan to see how far people can drop into superstition and magical thinking it goes in the bin. Not this week because one article contains a by line so staggeringly ironic that…Details
A new academic study asks whether hedge funds make markets inefficient and the answer appears to be ‘no.’ “Hedge Fund Herding and Crowded Trades: The Apologists’ Evidence,” is the work of Blerina Bela Reca of the University of Toledo, Richard W. Sias, University of Arizona and Harry J. Turtle, Washington State University. The authors examined…Details
Maybe….maybe not. Its probably more akin to pick pocketing with baseball bat – supposedly subtle and frictionless but actual a source of violence.
Brilliant piece by Matt Taibbi of Rolling Stone – I have said it before and I will say it again – Taibbi is the best finance journalist going around today. All the rest seemed to be boring hacks who try and conjure up some postdictive bullshit as to why something happened as opposed to looking…Details