From InsiderMonkey:
Asset Allocation 101 (ResourceInvestor) There is no single
answer to asset allocation, and it is every man for himself. One thing that I
can tell you with certainty is how a hedge fund approaches the issue. The
biggest hedge funds run thousands of positions across countries, industries,
sectors, and currencies that are dynamically hedged on a real time basis. To
monitor this they need a global 24-hour multilingual trading desk backed by the
latest mainframe computers using custom designed, cutting edge software. They
have gobs of bandwidth too, as a nanosecond can make the difference between
winning and losing on a trade. You can put together something like this for,
oh, maybe $100 million, give or take a few dozen million. It’s all enough to
send an MIT math PhD’s head spinning….
Texas Pension Manager Paid $1 Million Trails Peers Who Make
Less (BusinessWeek) Britt Harris arrived at the Teacher Retirement System of
Texas in 2006 from the world’s biggest hedge fund with a mandate to improve the
pension’s performance. He also brought a Wall Street attitude about pay.
Harris, the Texas fund’s chief investment officer, made $1 million last year in
salary and bonuses, the most of any public pension employee in the 12 most
populous U.S. states, according to data compiled by Bloomberg. Four other
employees made at least $500,000, and the fund paid $9.7 million in bonuses in
2011, more than any in those states…
Jury Begins Deliberations in Insider Trial of Ex-Fund
Managers Chiasson, Newman (WSJ) A Manhattan federal jury began deciding the
fate Wednesday evening of two former hedge-fund managers accused of making tens
of millions of dollars in illegal trades based on corporate secrets about
technology companies. Federal prosecutors have alleged that Anthony Chiasson, a
co-founder of Level Global Investors, and Todd Newman, a former portfolio
manager at Diamondback Capital Management LLC, another hedge fund, traded in
Dell Inc., DELL -0.94% Nvidia Corp. NVDA -1.03% and other technology companies
based on inside information they learned from a group of hedge-fund analysts
who sought out and shared such secrets…..
Read all about these and more at http://www.insidermonkey.com/blog/hedge-fund-news-julian-robertson-timothy-peterson-legg-mason-inc-32014/
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