Friday, 26 December 2014
Last updated 2 days ago
Feb 2 2010 | 9:19am ET
Burton Malkiel is famous for declaring active portfolio management little better than gambling. But that’s apparently not stopping him from trying his own hand at running a hedge fund.
Malkiel, the Princeton University economist best known for his classic A Random Walk Down Wall Street, is managing a China-focused hedge fund for AlphaShares Investments, the California firm where he serves as chief investment officer. The long-only vehicle recently debuted with $30 million, HedgeFund.net reports.
The move is quite the turnaround for Malkiel, who, in addition to poo-pooing active management, has also been a fierce critic of the hedge fund industry. Five years ago, he warned that the hedge fund industry had become too large and too risky, with insufficient prospects for outperformance.
In 2008, Malkiel published a book about investing in China titled From Wall Street to the Great Wall: How Investors Can Profit from China's Booming Economy. He now aims to do just that with his new China-focused fund.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.