Saturday, 23 August 2014
Last updated 1 day 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note