Hedge Fund News: Ben Bernanke, Cliff Asness & George Soros’s Housing Bet

Page 1 of 2

Hedge funds back Geithner as Fed chief (CNBC)
Former U.S. Treasury Secretary Tim Geithner shouldn’t be ruled out as a candidate for the next Federal Reserve chairman, according to delegates at a big U.S. hedge fund event in Singapore. Ben Bernanke’s term as chairman of the U.S.central bank ends in January and President Barack Obama is expected to announce his nomination for the next Fed chief soon. Delegates at the Skybridge Alternatives(SALT) Conference believed Geithner at the Fed would mean more accommodative and pro-stimulus measures from the central bank.

Ben Bernanke & George Soros

Cliff Asness: most traditional hedge fund strategies probably aren’t worth big fees anymore (Opalesque)
Asness explained how, in this day and age, the classic hedge fund strategies that have always worked will continue to work – although with a more crowded field of practitioners they will probably be less profitable than they had been historically. He’s referring to styles like long/short equity, merger arb, convertible arb, etc. These types of strategies, he notes, probably are not deserving of the standard 2-and-20 anymore, given how easy they are to access and how common they’ve become.

Amid market uncertainty, Boston’s Baupost Group considers return of some client funds (BizJournals)
Faced with new challenges and market uncertainty in putting all of its money to work, Boston-based hedge fund giant Baupost Group is expected to return some cash to clients by the end of the year. That’s according to Reuters.com, which quoted two unnamed sources who said they are familiar with the plan but could not say exactly how much of the $28 billion Baupost manages could be returned to investors. Baupost Group is run be hedge-fund veteran Seth Klarman, whose 31-year track record at the firm is considered among the best in the business.

Schroders launches GAIA Avoca Credit fund (FundWeb)
Schroders is launching the externally-managerd Schroder GAIA Avoca Credit fund on its GAIA platform. Avoca’s current Ucits fund, the Avoca Credit Absolute Return fund will be merged into the Schroder’s fund at launch in November. Avoca Capital Management’s Simon Thorp and James Sclater will be responsible for the management of the long-short portfolio. The fund will aim to deliver annualised returns of 7-10 per cent net of fees and will focus predominantly on European corporate credits and financials with smaller global allocations, including emerging markets.

R.I.’s pension fund $780 million for an 11.1% return (ProvidenceJournal)
Rhode Island’s pension fund earned some $780 million in investment returns during the past fiscal year after paying about $70 million in fees, according to preliminary numbers presented Wednesday to the State Investment Commission. Put another way, the fund earned returns of 11.1 percent after paying fees that totaled about 0.9 percent, or 90 basis points, for the year that ended June 30. State General Treasurer Gina M. Raimondo, who has been criticized with the rest of the commission for investing in hedge funds that protect against downturns but come with higher fees, said the returns suggest the commission’s strategy is working.

Meet the hedge fund owner investing in design futures (AFR)
When Daniel Droga moved into a dilapidated warehouse in Foster Street in Sydney’s Surry Hills, his neighbourhood included a tattoo parlour, an illegal brothel and a retailer of Chinese herbs. There were no cafes, let alone any specialising in single-roast beans and bearded baristas. It was 1992 and the inner-Sydney suburb was still a good decade off becoming the groovy hub that it is today.

Why SkyBridge Capital is bullish on Singapore (CNBC)

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!