Tag: asset management
It’s getting crowded in quantland
Some very large quant funds are having bad years… Too much money chasing similar trades can easily cause that to happen… Greg Zuckerman of the Wall Street Journal reports the numbers: Flush With Cash, Top Quant Funds Stumble…
Tax man cometh for hedgies
An old hedge fund tax benefit finally ends, after a 10-year phase out… Greg Zuckerman of the Wall Street Journal has the story: Loophole Closed: Hedge-Fund Managers Prepare Huge Tax Checks…
Will quants’ natural market-mellowing agents work forever?
On a day-to-day basis, quant trading seems to be smoothing out the markets and reducing volatility… But will this last forever, or is it just the calm before the storm… The Wall Street Journal’s Heard on the Street examines the case in How Quants Calm the Stock Market…
What’s it going to take for corporates to correct?
Excellent piece by the Bloomberg Gadfly, Lisa Abramowicz: Corporate Bond Traders Play Chicken in Overpriced Market… The corporate bond market has many overpriced securities, but no catalyst yet to make them go down in price…
Yield chasers plow into direct lending
The global scramble for yield continues… Another large player announces a new direct lending fund… Angelo, Gordon’s Twin Brook Capital Partners Raises over $2.3 Billion of Equity…
The case of the vanishing loan docs
Fascinating investigate piece about the soft underbelly of the private student loan market, bad servicing… Stacy Cowley of the New York Times break the story: As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away…
Rally getting long in the tooth?
Andy Kessler, veteran tech writer for the Wall Street Journal, is getting that same queasy feeling he remembers from 1987 and 1999… His commentary from earlier this month is worth reading: For Whom the Bell Tolls, Sell…
Detroit not immune from subprime illness
Bloomberg writer Gabrielle Coppola has a fabulous new piece about the subprime auto loan crisis… It will affect not only the originators and ABS pools, but also the automakers and their suppliers who have been artificially pulling demand forward… The title says it all: New U.S. Subprime Boom, Same Old Sins: Auto Defaults Are Soaring.
JP Morgan chief feeling like the ugly American …
Jamie Dimon, one of the most disciplined (and respected) CEOs in Americas, has a sudden tirade on JPM’s quarterly analyst conference call… Bloomberg has the story: Dimon Says Being an American Abroad Is ‘Almost an Embarrassment’… The most interesting question: Was this an outburst of candor, or premeditated?
… El-Erian agrees
Mohamed El-Erian seconds Jamie Dimon… Bloomberg has the story: Jamie Dimon Is Right to Raise the Alarm…
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