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Of course hedge funds should be regulated ..... by the rich people who own stakes in them! I can't think of a more effective regulation than the kind of regulation regime hedge funds were under for the 3 decades or so until 2000 - that is to say, none. The main difference today is that...

Emigration to avoid a tax is not a solution for US taxpapers who owe significant sums. Prepare to be hounded by the IRS for the rest of your life (only known solution is to have a song writer ex-wife who is a major party fundraiser), and have no way of coming back to the US to visit your...

The only bit variable figure anyone in ET cares/should care about is how much money you actually made trading. Doesn't prove skill or brains, but it is better to be lucky than smart. There are legions of smart but poor people in the world, and they are not very interesting from a trading...

That will teach Maouis to give out equity. Long term equity participation by the desk heads might naturally result in better risk management.

I was asked by some investors to help do due dilligence on a fund that wants to be seeded to the tune of $300,000 for a demonstration account, with more to come if it works out. Figuring that it wouldn't take up too much of my time, I took on the job mostly as a favour to the investor, who is...

maybe this multiple payee thing has something to do with the Patriot Act? I know that banks are required to have safeguards against "smurfing", where you send multiple wires/checks under the reporting limit. I think the reporting limit used to be like $10,000.

Faber's move makes sense - because I think his wife is Thai. Also, Thailand is such an inexpensive and yet relatively civil/safe place to live in. From HK, it's like increasing your net worth by 3 or 4 times I bet. He must take planes out of Chang Mai though because Bangkok traffic is a killer!

That's certainly out of character. It has been a good play of course. Don't suppose you know if he's decided on which Asian city to settle down in do you?

I've always felt that the population of ET can be classed into four major groups promoters / sheep / traders / sociopaths in approximately the following ratios 1 / 8 / 0.5 / 0.5 all that's left is to rapidly identify which catagory a poster is in and calibrate your response...

how true I like how flytiger has that special way with words I haven't read rearden's posts nor do I know rearden, but what little I've read passes the BS meter and his thumping pnl is an inspiration for the rest of us in the trenches I used to sling a rifle and hump a load too so an...

I think most people forget that a long time ago in a galaxy far away, Rogers began life as a stellar stock analyst at Arnold Bleichroeder with an attention to detail. He wasn't always a guy in a bow tie on TV giving sound bites and making attention grabbing predictions. If he's buying...

Well - the market is a giant processing machine continually spitting out a stream of price data, which really are operating instructions for the economy. If price of copper increases week after week, the market is telling the world we need more copper, and as the price of copper rises, more...

I understand the partners at McKinsey at the Director level can make 8 figures. A new partner probably just clears 7 figures. It probably takes 10 years to make partner if you survive the review process.

:) as they say, good enough for government work. At the end of the day people just care about the net. If you show 2/35, that's fine, but you must be able to reassure people that they'll still get their 12% net.

Actually it's not obvious. You could always borrow 4 times your starting capital, so you get up to 5 times and invest it in the mutual fund to try to replicate the 40%, but then you will run into the fact that your personal borrowing costs are going to be at least ~7% (assuming your loan is...

Another problem is that the S&P closes at 4pm while the futures closes at 4.15pm, so they are not exactly the same thing. A continuous contract sounds like the way to go since it might better mimick what a market maker in options on futures would use as a hedge than the cash index.

The New York Times Published: May 26, 2006 By JENNY ANDERSON According to Alpha's list, Mr. Simons charges a 5 percent management fee and takes 44 percent of gains; Steven A. Cohen, of SAC Capital Advisors, charges a management fee of 1 to 3 percent and 44 percent of gains; and Paul Tudor...

From THE WALL STREET JOURNAL July 1, 2005; Page C1 "Mr. Simons, whose net worth has been estimated at $2.5 billion, has seen Renaissance's $5 billion flagship Medallion hedge fund earn an average of 34% annually since it began in 1988, making it the most successful fund during the period...

Warren Buffett said it best I think. Interest rates are like gravity - as they go up, the present value of all future cash flows is reduced.

This is a calculation based on open interest. If it were daily volume, the contribution from hedge funds would be significantly larger.