Friday, 24 October 2014
Last updated 1 hour ago
Mar 9 2011 | 11:09am ET
Algebris Investments has teamed up with an Italian bank to launch a new fund investing in the latest investment craze, contingent convertible bonds.
Davide Serra, head of Algebris, noted that some €1 trillion worth of so-called "CoCos" will be issued by banks over the next several years. The bonds are designed to help banks meet stricter new capital ratio requirements, and convert to equity if a bank's capital ratio falls below a set threshold.
The new Duemme CoCo Credit Fund is a joint venture of Algebris and Banca Esperia, in which Mediobanca owns a 50% stake. The two firms said their skill in the "correct determining of pricing could represent an important factor of extra return."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...