Category Archives: Investment management
World’s Biggest Pension Fund Fears “Mishandling Of Reverse QE”, Expects Google/Amazon To Become Asset Managers
Japan’s GPIF is the elephant in the room when it comes to investing with about $1.4 trillion of pension assets under the management. In October 2014, the fund announced a dramatic shift in its asset mix, cutting its holdings in domestic bonds to 35% from 60%, increasing international bonds from 11% to 15%, increasing domestic […]
Bloomberg Pronounces The Early Death Of The Traditional Long-Short Hedge Fund Model
Bloomberg has apparently just taken it upon itself to pronounce the early, unceremonious demise of the traditional Long/Short Hedge Fund model after seemingly declaring that stocks will continue to march higher in perpetuity, with minimal volatility, thus rendering traditional financial analysis and stock picking about as obsolete as a Motorola pager from 1982. Of course, […]
Bank Of America: “This Is A Clear Sign Of Irrational Exuberance”
The latest monthly Fund Manager Survey by Bank of America confirmed what recent market actions have already demonstrated, namely that, as BofA Chief Investment Strategist Michael Hartnett explained, there is a “big market conviction in Goldilocks leading to capitulation into risk assets” while at the same time sending Fund managers’ cash levels to a 4-year […]
Tech Stocks Accounted For 75% Of The Market’s October Return
For some context on the unprecedented dominance of the tech sector on the overall market, here is some perspective from BofA’s Savita Subramanian on October returns, when Tech continued to lead the other ten sectors, generating +7.8% on a total return basis. This translates into a whopping 75% of the S&P 500’s return last month! […]
Is Bridgewater A Fraud? Here Are The Troubling Questions Posed By Jim Grant
Jim Grant, author of Grant’s Interest Rate Observer, first hinted last week that not all is well when it comes to the world’s biggest hedge fund, Ray Dalio’s $160 billion Bridgewater (of which one half is the world’s biggest risk-parity juggernaut). Speaking to Bloomberg last week, Grant said he was “bearish” on Bridgewater because founder […]
Jack Bogle Slams Wall Street’s “Unrealistic” Earnings Guesses, Says Market Valuations “Rather High”
88-year-old investing icon John "Jack" Bogle, founder of the Vanguard Group, says that the market seems to be "fully valued," and suggests investors adjust their asset allocation. In an interview with The Street, Bogle said: "The valuations of stocks are, by my standards, rather high," adding that "my standards, however, are high." When considering stock […]
Mapping The World’s Trillion-Dollar Asset-Manager Club
In the late 1700s, it was the start of the battle of stock exchanges: in 1773, the London Stock Exchange was formed, and the New York Stock Exchange was formed just 19 years later. And while London was a preferred destination for international finance at the time, Visual Capitalist's Jeff Desjardins notes that England also […]
Matt King: Global QE And “ETFs Everywhere” Have Created An Unstable, One-Way Market
While the financial industry remains divided over what precisely is the cause of the malaise that affects modern markets, characterized by plunging volumes and trading activity, record low volatility and dispersion, a relentless ascent disconnected from fundamentals, and generally a sense of foreboding doom, manifested by an all time high OMT skew – or record […]
Cryptocurrency Hedge Fund Returns 2,129% YTD
We’ll preface this post by saying we have never heard of the Alternative Money Fund – which “Specializes in Returning Freedom and Value” – and very well may never hear of it again, however it is notable for two things: i) it is a “hedge fund” invested entirely in cryptocurrencies and ii) it has allegedly […]