Anyone on PEN-L familiar enough with hedge funds to comment on this?
http://usa.terrapinnmedia.com/go.asp?/bTUS001/mLJUC44/uII0Z4/xFG1Q4
Jayson Funke
Graduate School of Geography
Clark University
950 Main Street
Worcester, MA 01610
yeah, me. what do you wanna know? It's a somewhat fashionable idea at the
moment. The theory is that you can replicate the performance of the hedge
fund indices to within a reasonable error with a fairly simple regression
model, trading futures to replicate hedge fund performance on the cheap.
t
PM
To: PEN-L@SUS.CSUCHICO.EDU
Subject: Re: [PEN-L] Hedge Fund Clones
yeah, me. what do you wanna know? It's a somewhat fashionable idea at the
moment. The theory is that you can replicate the performance of the hedge
fund indices to within a reasonable error with a fairly simple regre
treet
Worcester, MA 01610
-Original Message-
From: PEN-L list [mailto:[EMAIL PROTECTED] On Behalf Of Daniel Davies
Sent: Monday, September 10, 2007 3:56 PM
To: PEN-L@SUS.CSUCHICO.EDU
Subject: Re: [PEN-L] Hedge Fund Clones
yeah, me. what do you wanna know? It's a somewhat fashionable i
On Sep 10, 2007, at 4:27 PM, Daniel Davies wrote:
much cheaper fees basically. it's a product for people who want
exposure to
the kind of risk-return profile that hedge funds give you, but who
think
that the actual hedge funds are overcharging for what they do and
sucking
all the outperformance
not as true as you think, particularly in the hedge fund world. there are
plenty of funds out there which do a really excellent job (also note that
index funds only give you equity risk and there are a lot of other things
out there which you might want to be exposed to but which don't have index
f
everybody imagines himself/herself in
that top 25%-- fools and their money, you know how that goes.
-Original Message-
>From: Daniel Davies <[EMAIL PROTECTED]>
>Sent: Sep 10, 2007 4:47 PM
>To: PEN-L@SUS.CSUCHICO.EDU
>Subject: Re: [PEN-L] Hedge Fund Clones
>
>not as t
Daniel:
> unless you really know what you're doing, the everyday rebalancing
> of a tracker fund can eat you alive in commissions and slippage.
> The performance of some "index funds" is nothing short of embarrassing.
I agree with Daniel. Index funds are not always your best choice. For example,
On Sep 10, 2007, at 4:47 PM, Daniel Davies wrote:
there are
plenty of funds out there which do a really excellent job
For whom? The managers?
There's no way you can know this before the fact, and it's nearly
impossible for most people to pick winning stocks or hedge funds,
especially in adva
On Sep 10, 2007, at 7:17 PM, Sabri Oncu wrote:
I agree with Daniel. Index funds are not always your best choice.
For example,
if you are invested in an equity index fund in these days, you are
in serious
trouble. Index funds are managed with the objective of minimizing
the risk of
loss relative
On 9/10/07, Doug Henwood <[EMAIL PROTECTED]> wrote:
> On Sep 10, 2007, at 7:17 PM, Sabri Oncu wrote:
>
> For someone saving for retirement or some such, with a time horizon
> of 30-40 years, there's just no reason to try to outguess the market.
> "These days," for sure - if you mean the last month
On 9/10/07, Doug Henwood <[EMAIL PROTECTED]> wrote:
> On Sep 10, 2007, at 4:47 PM, Daniel Davies wrote:
>
> > there are
> > plenty of funds out there which do a really excellent job
>
> For whom? The managers?
>
> There's no way you can know this before the fact, and it's nearly
> impossible for m
On Sep 10, 2007, at 9:40 PM, raghu wrote:
I think DD meant "there are plenty of *index* funds out there which do
a really excellent job".
No, I think he meant hedge funds. Vanguard's S&P 500 fund does an
excellent job.
This is an excerpt from a NYT piece by Yale's former investment
manager, D
Doug:
> For someone saving for retirement or some such, with a time horizon
> of 30-40 years, there's just no reason to try to outguess the market.
> "These days," for sure - if you mean the last month or two. If you
> mean the last three or four years? The last 20-25 years? The last
> 50-60 years
On Sep 11, 2007, at 12:54 AM, Sabri Oncu wrote:
I mean a Japanese employee about to retire who put his/her future
in NIKKEI in
1989. How many years has it been now, 18 years? If the guy retired
then, he/she
must be dead by now and in misery he/she must have died.
1989 is not a year chosen at r
I did mean hedge funds. A few points:
1) it is really odd to be citing David Swensen in support of the viewpoint
that nobody, not even hedge funds can beat the market, because a) he is
famous because of having put together a track record of beating the market
over a long period and b) he is also
On Sep 11, 2007, at 2:42 PM, Daniel Davies wrote:
1) it is really odd to be citing David Swensen in support of the
viewpoint
that nobody, not even hedge funds can beat the market, because a)
he is
famous because of having put together a track record of beating the
market
over a long period and b
On 9/11/07, Daniel Davies <[EMAIL PROTECTED]> wrote:
> basically, this isn't the personal finance discussion list and anyone
> wanting retirement savings advice is on their own as far as I'm concerned.
> But I don't think it makes sense to ignore the existence of the fund
> industry or to assume th
> The US is arguably the exception that proves the rule, but the US
> is really historically unique in material ways.
>
> David Shemano
I doubt it! The Ottoman Empire was not significantly different than the US and
it was more advanced in many ways: for example, not only it was multi-ethnic
and mu
Doug:
> 1989 is not a year chosen at random. Obviously the financial racket
> is about odds. But someone who started in 1989 wouldn't retire until,
> what, 2019? 2025?
My Dear Doug,
Remember that I am a mathematician. I know some about logic. Anyone who put
his/her future in NIKKEI in 1989 just
My impression from Brussels is that most of the world seems to be more like the
Ottoman Empire than like the US. I had a student from Jordan who grew up here.
In Brussels she spoke Arabic at home, French on the street, English in class,
and Dutch occasionally on the main campus.
She went to Van
On Sep 11, 2007, at 11:25 PM, Sabri Oncu wrote:
Does that not prove my point that index funds are not ALWAYS good
for you?
Of course. Who said always? I said for most people, most of the time.
Doug
Michael:
> Leigh, this is not real information. To have a reporter say that
> someone says something is happening does not always convey anything
> new. In this case it did not
Of course it is real information. It is real in the sense that the article
Leigh sent appeared on CNN. Now, does the a
Show me your money, and I'll take that bet.
- Original Message -
From: "Sabri Oncu" <[EMAIL PROTECTED]>
To:
Sent: Saturday, September 15, 2007 2:30 AM
Subject: Re: [PEN-L] Hedge Fund Clones
> Michael:
>
> > Leigh, this is not real information. To hav
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