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  1. FT Alphaville

    June 19, 2014

    If everyone is a mini-LTCM that's fine, right?

    You may detect a sceptical tone there, but the question is real: does it matter if something unexpected occurs in the world...

  2. FT Alphaville

    February 18, 2014

    An EM credit crunch, not a sudden stop

    This post by Gavyn Davies has been cross-published at Gavyn’s own blog. The crisis in the emerging markets’ “fragile 8″ ,...

  1. Gavyn Davies

    February 16, 2014

    An EM credit crunch, not a sudden stop

    The crisis in the emerging markets’ “fragile 8″ , which threatened to sweep all before it a few weeks back, seems to have...

  2. January 13, 2014

    Former LTCM executive to launch hedge fund industry tracker

    The former London co-head of Long-Term Capital Management is to return to investing, with a fresh business pitched as the...

  3. July 12, 2013

    Bet on a German Bund get-rich-quick scheme

    “Lord God, since it has pleased You to ruin my fortune, let me only go down in small steps.” Charles d’Anjou, April 1282,...

  4. FT Long Short

    June 18, 2013

    Bob Merton's interconnected world

    Today’s Note video is with the MIT economist Bob Merton – famous both for winning a Nobel memorial prize for his part in...

  5. September 6, 2012

    Man hires ex-Pimco bond chief

    Man Group, the world’s second-largest hedge fund, has hired former Pimco international bond chief Sudesh Mariappa to...

  6. July 6, 2012

    Higgs business: unlearnt lessons

    If only business and finance could collide to produce genuinely repeatable results. Much like the long-elusive Higgs boson,...

  7. July 5, 2012

    Five reasons the summer curse may strike

    In recent days, several of America’s largest investment groups, such as Fidelity and Northern Trust, have been discreetly...

  8. May 27, 2012

    A sociopathic fantasy coming soon near you

    “You’re picking up nickels in front of bulldozers,” a friendly money manager warned (Eric) Rosenfeld, alluding to the risk...

  9. May 22, 2012

    Troubleshooter in running to succeed Dimon

    For relaxation, Matt Zames shoots things. Mostly birds. But the 41-year-old JPMorgan Chase executive does not have much free...

  10. May 16, 2012

    How JPMorgan’s storm in a teapot grew

    Boaz Weinstein stepped up to the microphone. The former Deutsche Bank trader – now a hedge fund manager and one of the...

  11. May 13, 2012

    Rebuild the pillars of 1930s Wall Street

    Last Thursday was Groundhog Day, again, in US markets. A large sophisticated institution surprised everyone with a 10-figure...

  12. FT Alphaville

    April 30, 2012

    Black Scholes and the formula of doom

    It has been argued that one formula known as Black-Scholes, along with its descendants, helped to blow up the financial...

  13. April 4, 2012

    ECB liquidity fuels high stakes hedging

    The European Central Bank’s moves to boost liquidity in the Eurozone are powering big returns for the high-stakes hedge fund...

  14. FT Alphaville

    February 29, 2012

    Dalio takes hedge crown from Soros

    Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund...

  15. February 28, 2012

    Dalio takes hedge crown from Soros

    Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund...

  16. February 3, 2012

    When good news is good and so is bad news

    I was looking for a job and then I found a job, And heaven knows I’m miserable now. – The Smiths, 1984 Sometimes it’s heads...

  17. November 11, 2011

    MF Global provides a lesson in crisis

    Two seemingly unrelated things happened in August. Ben Bernanke hinted broadly at the possibility of another round of...

  18. November 8, 2011

    Not so hedged funds

    Hedge funds used to promise “absolute returns” until hefty losses in the financial crisis reminded clients that there is no...

  19. October 16, 2011

    Irrational regard for economic models

    Tom Lehrer famously described Henry Kissinger’s winning of the Nobel peace prize as the moment when satire died. In...

  20. August 26, 2011

    Buffett, US investor of last resort

    By the autumn of 1907, panic gripped the US financial system. The stock market had halved in value and bank runs were...

  21. July 22, 2011

    Eurozone can sideline moral hazard

    Betting on bail-outs is generally a good idea. When a government steps in to rescue a financial institution, it has usually...

  22. June 7, 2011

    Radicals are right to take on the banks

    This week Tim Geithner, US Treasury secretary, declared that the capital requirements in last year’s Basel III deal must be...

  23. FT Alphaville

    June 1, 2011

    The calm before the (volatility) storm

    We ♥ this note from Bank of America Merrill Lynch’s Ruslan Bikbov and Priya Misra. It’s on a subject dear to our own hearts...

  24. FT Alphaville

    April 18, 2011

    More on the literal Bernanke put

    Central banks using options as a monetary policy tool — crazy, right? But there’s history here. The Bank of Spain reportedly...

  25. March 13, 2011

    CTAs: ‘true diversifiers’ with returns to boot

    The trials and tribulations of 2008 appeared to demonstrate all too cruelly the old investment adage “correlation is the...

  26. February 6, 2011

    ‘Zombies’ are on the march

    If the company you work for was owned by zombies who had no capability to think rationally or take any kind of...

  27. November 29, 2010

    The flawed maths of financial models

    Imagine a car school that specialised in teaching how to build Toyotas. Following the manufacturer’s recall of thousands of...

  28. November 14, 2010

    Financial regulation: a garden to tame

    Unruly array: Tim Geithner, the US Treasury secretary, outside the White House. The Financial Stability Oversight Council, a...

  29. September 26, 2010

    Relative value advocate shows strategy’s worth

    In its heyday, Long Term Capital Management was considered a lead practitioner in relative value. In summer 1998, it was...

  30. Westminster Blog

    September 20, 2010

    Top Ten Lib Dem Conference Moments Ever

    1. Conference resolves to ban goldfish prizes at fairs The purest expression of Lib Dem eccentricity. The 1992...

  31. September 15, 2010

    Hedge funds reap rewards from Treasuries

    Classic relative value arbitrage – the elegant, sometimes dangerous investment strategy that has proved the making and...

  32. September 15, 2010

    Bond strategy led to big win after Lehman

    The collapse of Lehman Brothers and central banks’ unorthodox monetary policies distorted markets to create some of the...

  33. August 16, 2010

    Resurgence of controversial hedge fund strategy

    The hedge fund strategy pioneered – and made notorious – by Long Term Capital Management is returning to prominence amid one...

  34. July 25, 2010

    Correlations that you can trust

    It is beyond doubt that the past crisis-laden few years have not been good for the concept of statistical correlation when...

  35. July 15, 2010

    How and when to fsoc it to the hedge funds

    Among the regulatory headaches created by the Dodd-Frank bill which finally passed Congress on Thursday night, consider just...

  36. FT Alphaville

    May 27, 2010

    Einhorn: long America's grandchildren, short rating agencies

    Don’t let that baby face deceive you. David Einhorn has never been shy about picking fights, as Erin Callan learned to her...

  37. May 25, 2010

    Volatility metrics still point to high fear factor

    Just two months ago, a key measure of market sentiment fell to levels that indicated that investors had largely put the...

  38. May 24, 2010

    Volatility metrics still point to high fear factor

    Just two months ago, a key measure of market sentiment fell to levels that indicated investors had largely put the financial...

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