Saturday, 27 December 2014
Last updated 3 days ago
Nov 14 2013 | 10:53am ET
It may not make you a billionaire but an index launched on the NYSE on Wednesday claims it will let you invest like one.
The iBillionaire index, brainchild of Kinetik co-founder Raul Moreno and Dineromail co-founder Alejandro Estrada, tracks the 30 large-cap, S&P-listed equities most popular with billionaire investors like Warren Buffett, Dan Loeb, David Tepper, John Paulson, Carl Icahn and David Einhorn based on their 13F filings.
According to iBillionaire, the index "provides investors an efficient and effective way to follow the smart money. In essence, the index works as though one gathered a group of billionaires and asked them to come to a consensus as to which S&P 500 stocks are the best bets."
The company is also laying the groundwork for an exchange-traded fund.
Maz Jadallah, whose AlphaClone runs just such an ETF, told FINalternatives he was not surprised by the recent proliferation of 13F-based investment products:
"Investors like Buffett and Malone have created a lot of value for their investors and themselves. The success of the iB index will depend on the index's ability to select billionaires that continue to create value in the future via their public investments.”
But, not surprisingly, Jadallah likes his own manager selection methodology best:
“Rather than simply picking random or well-known managers, AlphaClone’s proprietary Clone Score methodology enables our strategies to invest in the top positions of managers who provide persistent returns over a long period."
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.