Wednesday, 22 October 2014
Last updated 11 hours ago
Mar 18 2014 | 11:08am ET
Russia today moved formally to annex the Crimea—and hedge fund managers are worried.
Bank of America Merrill Lynch’s March Fund Manager Survey shows 81% fear geopolitical risk. The poll was taken as matters between the Ukraine and Russia continued to deteriorate this month, culminating on Sunday with the Crimean referendum to leave the Ukraine and join Russia, and Russian President Vladimir Putin’s signing of an annexation treaty today. The conflict has battered Russian and European stocks, and the U.S. and European Union leaders have promised increasing sanctions against Russia.
Fund managers’ stock holdings have dropped to a 15-month low, according to the BofA survey, and have also cut leverage. The number of investors identifying geopolitical crisis as the chief tail risk more than doubled, from 12% last month to 27% in March.
“Responding at a point of growing tension in Ukraine, 81% of investors said they see geopolitical risk posing a threat to financial markets stability—more than four times the reading one month ago,” BofA’s Michael Hartnett said.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. 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 ...