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Hedge Funds, An Impression
I try to read four newspapers before the day really starts, and also look through a couple of on-line sites. I skim the lead economic stories and randomly dig all the way through the paper to the end...
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Systemic Risk, Hedge Funds, and Financial Regulation
One of our readers recommended the Congressional testimony by Andrew Lo during last Thursday’s session on hedge funds. Lo is not only a professor at the MIT Sloan School of Management, but the Chief...
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The Cost of Reputation
Or, more accurately, the cost of caring about your reputation. My recent article on Risk Management for Beginners closed with some unrigorous speculation about the peculiar incentives of fund managers,...
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Was It The Hedge Funds? (Diane Rehm Show at 11am)
Hedge funds have been nominated as a prime culprit in the current financial disaster. European governments, in particular, seem keen to impose greater regulation on hedge funds, including more...
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Hedge Funds Make A Political Mistake
The political flavor of the month is to push back against even the Obama adminstration’s mildly reformist inclinations on finance (e.g., Peter Weinberg in today’s FT is a nice example). And, of...
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Another Great TAL Episode on the Financial Crisis
By James Kwak ProPublica has a long and detailed story of Magnetar, the hedge fund that helped fuel the subprime bubble by providing the equity for new subprime collateralized debt obligations —...
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The Cover-Up
By James Kwak Wall Street is engaged in a cover-up. Not a criminal cover-up, but an intellectual cover-up. The key issue is whether the financial crisis was the product of conscious, intentional...
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Hedge Fund Blindness
By James Kwak Hedge fund managers may be good at investing money. (Or they may just be the beneficiaries of luck, like successful stock mutual fund managers.) But that doesn’t mean they can think...
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The Value of “Top Talent”
By James Kwak From a Wall Street Journal article about The Children’s Investment Fund: “[The fund] lost 43% in 2008, among the worst losses by a hedge-fund that year.” “Both investors and employees...
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