Investor Sentiment….Who Cares….
This is a chart of investor sentiment as produced by the American Association of Individual Investors. Each week the association polls its members with the question where do you feel the stockmarket will be in the next six months. The results are tallied to give a percentage bullish, bearish or undecided. These sorts of metrics…
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Hedge Fund Managers Don’t Always Beat the Market, but They Still Make Billions
Good performance, mediocre results or even downright ugly returns. When it comes to hedge funds, it scarcely matters. Even as some investors begin to sour on these high-priced stock pickers, the top fund managers still haul in enormous paychecks. The 25 best-paid hedge fund managers earned a collective $11 billion in 2016, according to an…
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Wall Street Porn
NEW YORK — The hedge-fund industry is a secretive world led by tight-lipped titans who make more than $1 billion a year. It shouldn’t enjoy having its quirky habits probed on television. But that appears to be what is happening. On Showtime’s “Billions,” two larger-than-life adversaries, U.S. Attorney Chuck Rhoades and billionaire hedge-fund manager Bobby “Axe”…
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Why I Lost My Bet With Warren Buffett
Almost a decade ago Warren Buffett made a bet with Ted Seides then of Protege Partners a specialised asset management firm that the S&P500 would over the next ten years beat a selection of the hedge funds. With the bet nearing its termination date Seides has admitted defeat and in an article for Bloomberg sets out…
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WTF Is All The Fuss About
This article is apparently doing the rounds and it purports to look at the supposedly new development of predatory short selling and uses the attack on Quintix by the US group Galucus as proof of this and along the way we get the usual dose of perceived wisdom from Gerry Harvey. Whenever such a piece on…
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FINANCIERS FIGHT OVER THE AMERICAN DREAM
A long read but worth it. In the past I have written about the danger of combining hubris with concentration bets. One day in the summer of 2011, Christine Richard arrived at the forty-second floor of a high-rise on Fifty-seventh Street in Manhattan to visit a hedge fund called Pershing Square Capital Management. Richard worked…
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The Culture Principle – Ray Dalio And Bridgewater
At one of the gyms I used to frequent there was a trainer who used to do some very odd things and initially I could not work whether he was a mad genius or just a dickhead. In the end he turned out to be just a dickhead, my guess about Ray Dalio and the…
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