I don’t think it is the end of the world as we know it. We will get through this very difficult time. It might get worse before it gets better, but this too shall pass. And will probably be stronger for it. There is one bright light amongst all this
My market commentary this week is simple – make sure you have dry powder, keep a clear head and make good decisions. Sometimes the best reaction is no action or a least not a quick reaction. Clearly the global economy is in a tizzy and while it looks like things
The hiatus is over. I am back to writing the blog. It is hard to believe that Y2K was twenty years ago. As we move forward into the second decade of the new millennium there are a lot of bright spots on the horizon. The economy continues to be strong; people
I know it has been a while since I have written, I apologize to those who have missed these posts. Let me first start off by saying the SALT Conference was great. Once again Mr. Scaramucci and his team pulled off a solid event – both content and networking were
I spent the better part of this week running around New York City meeting with friends and foes in the financial services community. There were a series of events that showcased a number of firms and their services as well as provided “unique insight” into the status of the investment
I am sick and tired of reading about the death of the hedge fund industry in the popular press. It is almost as bad as reading how bad a job President Trump is doing. Although anti-Trump articles trump the death of hedge funds for sure. What I don’t understand is
A bit of digression from the hedge fund front this week: The recent news that NYU Medical School is giving students free tuition is really quite something. The school said that it would cover the cost of tuition for all students, regardless of need or merit, because, well, no one
So just in case you were hiding under a rock or in some place where Al Gore’s internet doesn’t reach, Facebook got hammered last week. The Silicon Valley giant’s market value took a massive beating and well, everyone — and I mean everyone — has been reporting on it non-stop.
Whoever said that my blog is nothing more than a series of posts filled with rants and raves about the hedge fund industry and things that drive me crazy, well, they must have missed a post from June of ’16. In this short but sweet (if I do say so myself)
I refuse, refuse, I say, to write about the popular press’s continued ranting and raving about the death of the hedge fund industry. That being said, if you believe them, well, stop reading. Over the last few weeks The Wall Street Journal’s coverage of hedge funds has shifted from the
This week’s post is a bit of a digression from the rants, raves and commentary on the hedge fund industry and Wall Street, but worth the read nonetheless. It seems like every time I turn on TV there are apology ads for Wells Fargo and Facebook for the way they
OK, I get it: The people in show business hate President Trump. These haters find it necessary to use foul disgusting, despicable and degrading language to describe him and his family whenever they have an opportunity. Most of have never met a microphone they haven’t liked and all seem willing
Last week’s post brought a lot of sighs of relief from people in the hedge fund industry. A number of readers, whom frankly I don’t really know, reached out saying that they, too, believe the industry is alive and well and beginning to kick again. A few folks that I
The demise of the industry has been completely over-exaggerated. Rest assured, hedge funds are alive and well. It is true that new fund launches have decreased significantly over the last few years and the data around this area continue to show weakness. Still, investors in a never-ending search for alpha
Well, it’s happened again: I’ve been refused entrance to an industry cocktail party. I just got a random email notifying me that I was “declined to attend” a welcome party for a conference in Newport later this month. I do know who the hosts of the party are and I guess they
The news last week that legendary trader Steve Cohen is working on launching a massive new fund is not only welcome but long expected. Cohen is clearly one of the sharpest tools in the shed when it comes to managing money. He’s able to provide investors with exactly what they
Last week’s ninth annual SALT Conference in Las Vegas was quite a show. Once again the folks at Skybridge showed the world how to put together a star-filled program of substance and entertainment. SALT is unique, as it gathers managers, investors, politicians, service providers and entertainers from across the globe
The world was shocked, shocked, I write, that according to Bloomberg, hedge fund investors are abandoning fund managers because of “high fees” and “poor returns.” My question is simple: Isn’t it an investor’s job to get out of poorly performing investments? Why is this news? I really don’t get it.
Loyal readers have read these words before and, unfortunately, I need to write them again: The demise of the hedge fund industry has been greatly overrated. Mark my words, dear readers, the hedge fund industry is here to stay. No matter how hard the industry is thrashed by the popular
Last week the popular press was once again littered with stories on the demise of the hedge fund industry. Reports from a number of well-respected observers have put fund closures and investor redemptions at near-record levels. Some believe that over $70 billion of capital was redeemed from funds in 2016,
Over the last few of weeks, I’ve spent quite a bit of time meeting with managers and talking about how they manage money — where they generate returns and their expectations for the markets and their funds. At the same time, I’ve been meeting with investors of all shapes and sizes,
No political commentary this week. I think that we all agree that the mainstream media have the new administration covered and are providing enough news and commentary. I will say one thing, though: Whether you agree or disagree with President Trump’s actions, the one thing we can all agree on
This just in: The United States of America has a new President and the world hasn’t come to an end. Hell has not frozen over and anarchy has not spread throughout the land. Sure, it’s too early to tell, I mean perhaps Madonna and the rest of the liberal glitterati
Last week I had the pleasure of celebrating Frank Sinatra’s 101st birthday at his old haunt, Patsy’s on West 56th Street. The afternoon was one full of serious Sinatra talk as well as discussions on pretty much every topic other than the retirement of David Ortiz. We covered quite a
Over the last six months, maybe longer when not covering the Presidential election, the popular press has had its guns pointed at one thing: the hedge fund industry. This is not a new phenomenon; in fact at this point it’s status quo. When things are bad, blame hedge
Over the last few weeks, months, perhaps even a year or so, the markets have been extremely volatile. Concerns about Brexit, the Presidential election, a lackluster global economy, political unrest, Federal Reserve policies, you name it, have caused extreme uncertainty and frustration. And while the market continues to hit new
As protestors continue to march in the streets, the world is coming to grips with a President named Donald J. Trump. The peaceful transition of power is currently under way and this act alone makes the United States — regardless of one’s view on the President elect – the envy
Donald Trump’s stunning victory has sent shock-waves around the world, roiled the global financial markets and left many asking how, why — and really? The reality is that the reality television star tapped into something that the mainstream politicians missed or were afraid to address. People of all shapes, sizes, races,
