Friday, 29 August 2014
Last updated 13 min ago
Mar 23 2010 | 3:24am ET
Humility does not come easily to hedge fund managers. So it cannot have been easy for Seabreeze Partners Management’s Douglas Kass to admit, “I have been wrong.”
Kass has been exceptionally pessimistic about the prospects for stocks generally, and the Standard & Poor’s 500 Index in particular. In September, he told Reuters that the benchmark would finish last year at about 920; it actually ended December at 1,115.10.
“I have been wrong—at least, Mr. Market has been saying so,” Kass wrote to investors in a mea culpa, according to Reuters.
“I am fully aware that my mistakes over the past few months have been numerous and far-reaching,” he wrote. “Above all, I have been steadfastly skeptical regarding the sustainability of the domestic economic recovery and in the view that the foundation for a sustained move in the U.S. stock market was on shakier ground than the consensus believed.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...