Tuesday, 21 October 2014
Last updated 26 min ago
Oct 13 2008 | 1:29pm ET
George Soros isn't the only hedgie who's betting that markets have bottomed out.
James Chanos said in a television interview that he's shorting the fewer financial shares than at any point in the last five years, betting that government moves to infuse banks with cash will turn the sector around. So far, that bet may be paying off as stocks soared around the world today on assurances of government help for the financial industry.
Financial stocks "are down quite a bit, and clearly with these kinds of rescue packages our view is the risk-reward is not great on the short side, probably selectively on the long side," the Kynikos Associates chief told Bloomberg Television. "We're looking elsewhere."
Chanos also added his voice to criticism of recent short-sale bans, which have expired in the U.S. but continue elsewhere, including in the U.K. Like his colleagues, Chanos said that short-sellers were not to blame for the precipitous decline in stocks.
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 ...