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Dakota Access And The Army Corps Of Engineers: An Odd Mistake?
The election of Donald Trump has been good news for shareholders in Energy Transfer Equity, the company behind the controversial Dakota Access oil pipeline.
McKinsey: Historically Anomalous Period Nears An End
McKinsey & Co. has posted a new report assessing the state and the future of the North American asset management industry, encompassing both active and passive managers and looking at five mega-trends.
Impact Investing: The Impacts, Measurement And Profit
One candidate for the title “next new thing” is “impact investing.” As the term suggests, this refers to investing with an eye to the ways in which the investor’s decisions make an impact upon society beyond his own portfolio.
Massad: Where The U.S. And The World Stand On Margins & Cap Requirements
The chair of the Commodity Futures Trading Commission, Timothy Massad, addressed the Outlook Conference of the Managed Funds Association on October 21, and spoke about the global implementation of uncleared margin rules.
Eurekahedge: Exodus From The Event-Driven Funds YTD
Looking specifically at the month of September, the ranking of the four indexes turns out to be … the same as YTD. Relative value best, tail risk worse, long vol slightly down, short vol slightly up.
Fraudulent Transfer: No ‘Safety’ For Lyondell Shareholders
The door has been opened to similar lawsuits and similar clawbacks seeking to recover distributions made to shareholders, even though the burdens the litigants will have to carry remain heavy ones.
Venezuela: Thinking Of Cromwell And Crude
Hedge funds, among them some of those the unsympathetic call “vultures,” bought into the bonds of the Petróleo de Venezuela SA early this year.
Aligning Interests: Changes In Alt Investment Business Models
A new AIMA research paper discusses “the alignment of interests between hedge fund managers and investors” as it manifests itself in changes in the hedge fund business model.
On Aluminum And Other Metals: A Thought On Physicality
Hong Kong Exchanges and Clearing, the company that bought the London Metal Exchange four years ago, has further expansion plans. At a recent event on the commodity markets of East Asia, Charles Li, the CEO of HKEx, spoke on this point.
Eurekahedge: Redemptions Exceeding New Investment For HFs Worldwide
Hedge funds have now seen three consecutive months in which redemptions have exceeded new investment, for a net outflow. The net outflow for July alone was $5.7 billion.
Northill: In Defense Of Active Management
Northill Capital, a London-based asset manager, has released a report defending active asset management from the common charge that it cannot, after costs, beat the passive managers. That is an old and familiar subject for debate.
The Shale/Fracking Revolution: 1998 To 2011
A critical revolution in the crude oil and natural gas markets began 18 years ago.
Headline Vs. Core Inflation: We Shouldn't Have Laughed
I’m old enough to remember the 1970s, and to remember the economic debates in the United States at the time concerning the inflation of that era.
Waiting For Normalization: Issuing Convertibles
A moderate increase in the issuance of convertible bonds globally over the last three years came about only after a long post-crisis decline.
Stocks After Shocks: Equity Returns In The Face Of Monetary Policy
A new paper by two economists affiliated with the Federal Reserve System presents a new measure of the monetary policy exposure of individual stocks.
Crude Oil At Mid-Year: IEA Assessment
In January, the IEA estimated that the excess of supply over demand through the first half of the year would be 1.5 million barrels per day. The IEA now says the true figure was much lower, about 0.8 m b/d.
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