Wednesday, 27 August 2014
Last updated 3 hours ago
Feb 21 2014 | 9:59am ET
The Federal Reserve may have some fans in the hedge fund community, but they are not nearly so vocal as its detractors.
The central bank's stimulus programs helped stoke last year's big gains on Wall Street. They are also, as Duquense Capital Management founder Stanley Druckenmiller has pointed out, much better for the rich than for the middle-class and poor. Still, some of the rich are not especially appreciative.
"I don't really like the Fed very much," DoubleLine Capital's Jeffrey Gundlach told The New York Times. "I wish the Fed were not manipulating the market the way it is."
One of the Fed's cheerleaders is Bridgewater Associates' Ray Dalio, who has said that the stimulus programs have led to a "beautiful deleveraging." But Kynikos Associates' James Chanos says that is a mirage.
"The beautiful deleveraging has not happened," Chanos told the Times. "We are more leveraged as a society than we were in 2007, at the onset of the financial crisis."
"They've gotten themselves boxed into a corner," Gundlach says. "It is the same old game and we keep saying the same old things."
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 ...