Hedge Funds Humbled The 7 Mistakes That Brought Hedge Funds To Their Knees And How They Will Rise Again
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| Author | : Trevor Ganshaw |
| Publisher | : McGraw Hill Professional |
| Total Pages | : 252 |
| Release | : 2009-12-18 |
| Genre | : Business & Economics |
| ISBN | : 0071713719 |
The fall and rise of a trillion-dollar industry Just three years ago, hedge funds were at the top of the investment world. Years of unparalleled growth had pushed assets to nearly $3 trillion. Leverage was used so aggressively that total long and short investments approached an astonishing $10 trillion. Thousands of new funds had sprouted in every corner of the market, and managers, enjoying an almost unimaginable pool of fees, were dubbed the new “masters of the universe.” Then came 2008.The industry suffered its worst performance ever, losing $600 billion or roughly 20% in a single year. Multibilliondollar hedge funds collapsed overnight, epic frauds were revealed, and assets plummeted as spooked investors scrambled to get their money back. The near collapse of the industry is one of the most dramatic stories of the global economic meltdown. It’s also among the most instructive—because hedge funds are still alive and, if managed wisely, will emerge stronger than ever in the coming years. In Hedge Funds Humbled, industry insider Trevor Ganshaw provides a detailed primer of the industry and explains how the people who earned more than $100 billion in fees during their short but happy heyday planted the seeds of their own destruction. He paints a vivid picture of how the industry leaders’ major mistakes destroyed hundreds of billions of investor capital; Ganshaw calls them the “seven deadly sins” of the hedge fund industry: Out-of-control leverage Inadequate risk management Flawed fee structures Overcrowded strategies The Peter Principle of too much capital Capital instability Fraud, enabled by lax controls Ganshaw examines the future of the industry and shows investors what to look for and what to avoid. There’s still money to be made in hedge funds and, in his estimation, the industry is poised for a comeback. “As all good hedge fund managers know, greed is good,” he writes. “Humility, it seems, may now be an essential part of keeping it that way.” More dramatic than fiction, Hedge Funds Humbled is a timely work that provides a critical look at an industry gone bad—and an optimistic look at its future.
| Author | : Bo Gong |
| Publisher | : Routledge |
| Total Pages | : 308 |
| Release | : 2013-12-13 |
| Genre | : Law |
| ISBN | : 113601568X |
Institutional shareholder participation has long been considered as vital to good corporate governance yet its potential does not seem to have been realized. The recent banking crisis exposed the passivity of some institutional shareholders, many of whom appear to have chosen to sell their stakes in the banks rather than intervene or challenge the board when they realized the strategies followed by the banks were excessively risky. Institutional shareholders’ role to scrutinize and monitor the decisions of boards and executive management in the banking sector in the UK is considered by many to be a failure, resulting in the phenomenon of ‘ownerless corporations’, as described by Lord Myners. In China, despite the fast rising of institutional investment in the securities market, institutional shareholders have not yet played a contributory role in monitoring corporate managers in listed companies. Drawing on empirical evidence this book seeks to systematically analyses institutional shareholders’ incentives to activism to explain when and why shareholder activism will occur. The book puts forward a model which explains the factors that determine institutional shareholders’ propensity for activism. The model both elaborates the collective benefits of activism as a means of achieving managerial accountability asks whether and when shareholder activism is rational for any individual shareholder. The book then goes to on to apply these finding to both the UK and China in order to explain the varying levels of shareholder activism in each jurisdiction. The book is the first to take an in-depth look at institutional share-holder activism in China providing prescriptions to promote greater shareholder engagement and exploring the potential it holds for improving corporate governance in the region.
| Author | : Dani Rodrik |
| Publisher | : OUP Oxford |
| Total Pages | : 442 |
| Release | : 2012-05-17 |
| Genre | : Political Science |
| ISBN | : 0191634255 |
For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
| Author | : Richard A. Spears |
| Publisher | : McGraw Hill Professional |
| Total Pages | : 1100 |
| Release | : 2006-02-03 |
| Genre | : Foreign Language Study |
| ISBN | : 0071486852 |
Learn the language of Nebraska . . .and 49 other states With more entries than any other reference of its kind,McGraw-Hill’s Dictionary of American Idioms and Phrasal Verbs shows you how American English is spoken today. You will find commonly used phrasal verbs, idiomatic expressions, proverbial expressions, and clichés. The dictionary contains more than 24,000 entries, each defined and followed by one or two example sentences. It also includes a Phrase-Finder Index with more than 60,000 entries.
| Author | : Alison Green |
| Publisher | : Ballantine Books |
| Total Pages | : 306 |
| Release | : 2018-05-01 |
| Genre | : Business & Economics |
| ISBN | : 0399181822 |
From the creator of the popular website Ask a Manager and New York’s work-advice columnist comes a witty, practical guide to 200 difficult professional conversations—featuring all-new advice! There’s a reason Alison Green has been called “the Dear Abby of the work world.” Ten years as a workplace-advice columnist have taught her that people avoid awkward conversations in the office because they simply don’t know what to say. Thankfully, Green does—and in this incredibly helpful book, she tackles the tough discussions you may need to have during your career. You’ll learn what to say when • coworkers push their work on you—then take credit for it • you accidentally trash-talk someone in an email then hit “reply all” • you’re being micromanaged—or not being managed at all • you catch a colleague in a lie • your boss seems unhappy with your work • your cubemate’s loud speakerphone is making you homicidal • you got drunk at the holiday party Praise for Ask a Manager “A must-read for anyone who works . . . [Alison Green’s] advice boils down to the idea that you should be professional (even when others are not) and that communicating in a straightforward manner with candor and kindness will get you far, no matter where you work.”—Booklist (starred review) “The author’s friendly, warm, no-nonsense writing is a pleasure to read, and her advice can be widely applied to relationships in all areas of readers’ lives. Ideal for anyone new to the job market or new to management, or anyone hoping to improve their work experience.”—Library Journal (starred review) “I am a huge fan of Alison Green’s Ask a Manager column. This book is even better. It teaches us how to deal with many of the most vexing big and little problems in our workplaces—and to do so with grace, confidence, and a sense of humor.”—Robert Sutton, Stanford professor and author of The No Asshole Rule and The Asshole Survival Guide “Ask a Manager is the ultimate playbook for navigating the traditional workforce in a diplomatic but firm way.”—Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together
| Author | : Roger Bootle |
| Publisher | : Hachette UK |
| Total Pages | : 449 |
| Release | : 2012-07-05 |
| Genre | : Business & Economics |
| ISBN | : 1857889886 |
A trenchant, topical, and thought-provoking exploration of both our economic future and the future of the market system itself.
| Author | : William James |
| Publisher | : The Floating Press |
| Total Pages | : 824 |
| Release | : 2009-01-01 |
| Genre | : Psychology |
| ISBN | : 1877527467 |
Harvard psychologist and philosopher William James' The Varieties of Religious Experience: A Study in Human Nature explores the nature of religion and, in James' observation, its divorce from science when studied academically. After publication in 1902 it quickly became a canonical text of philosophy and psychology, remaining in print through the entire century. "Scientific theories are organically conditioned just as much as religious emotions are; and if we only knew the facts intimately enough, we should doubtless see 'the liver' determining the dicta of the sturdy atheist as decisively as it does those of the Methodist under conviction anxious about his soul. When it alters in one way the blood that percolates it, we get the Methodist, when in another way, we get the atheist form of mind."
| Author | : Jack D. Schwager |
| Publisher | : John Wiley & Sons |
| Total Pages | : 213 |
| Release | : 2014-02-24 |
| Genre | : Business & Economics |
| ISBN | : 1118858697 |
An accessible look at the art of investing and how to adopt the practices of top professionals What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages. In The Little Book of Market Wizards, Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results. Each chapter focuses on a specific theme essential to market success Describes how all market participants can benefit by incorporating the related traits, behaviors, and philosophies of the Market Wizards in their own trading Filled with compelling anecdotes that bring the trading messages to life, and direct quotes from the market greats that resonate with the wisdom born of experience and skill Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing.
| Author | : Gary Shteyngart |
| Publisher | : Random House |
| Total Pages | : 333 |
| Release | : 2018-09-04 |
| Genre | : Fiction |
| ISBN | : 0812997425 |
“Spectacular.”—NPR • “Uproariously funny.”—The Boston Globe • “An artistic triumph.”—San Francisco Chronicle • “A novel in which comedy and pathos are exquisitely balanced.”—The Washington Post • “Shteyngart’s best book.”—The Seattle Times The bestselling author of Super Sad True Love Story returns with a biting, brilliant, emotionally resonant novel very much of our times. NAMED ONE OF THE TEN BEST BOOKS OF THE YEAR BY SAN FRANCISCO CHRONICLE AND MAUREEN CORRIGAN, NPR’S FRESH AIR AND NAMED ONE OF THE BEST BOOKS OF THE YEAR BY The New York Times Book Review • NPR • The Washington Post • O: The Oprah Magazine • Mother Jones • Glamour • Library Journal • Kirkus Reviews • Newsday • Pamela Paul, KQED • Financial Times • The Globe and Mail Narcissistic, hilariously self-deluded, and divorced from the real world as most of us know it, hedge-fund manager Barry Cohen oversees $2.4 billion in assets. Deeply stressed by an SEC investigation and by his three-year-old son’s diagnosis of autism, he flees New York on a Greyhound bus in search of a simpler, more romantic life with his old college sweetheart. Meanwhile, his super-smart wife, Seema—a driven first-generation American who craved the picture-perfect life that comes with wealth—has her own demons to face. How these two flawed characters navigate the Shteyngartian chaos of their own making is at the heart of this piercing exploration, a poignant tale of familial longing and an unsentimental ode to America. LONGLISTED FOR THE CARNEGIE MEDAL FOR EXCELLENCE IN FICTION “The fuel and oxygen of immigrant literature—movement, exile, nostalgia, cultural disorientation—are what fire the pistons of this trenchant and panoramic novel. . . . [It is] a novel so pungent, so frisky and so intent on probing the dissonances and delusions—both individual and collective—that grip this strange land getting stranger.”—The New York Times Book Review “Shteyngart, perhaps more than any American writer of his generation, is a natural. He is light, stinging, insolent and melancholy. . . . The wit and the immigrant’s sense of heartbreak—he was born in Russia—just seem to pour from him. The idea of riding along behind Shteyngart as he glides across America in the early age of Trump is a propitious one. He doesn’t disappoint.”—The New York Times
| Author | : Willa Cather |
| Publisher | : Modernista |
| Total Pages | : 188 |
| Release | : 2024-07-15 |
| Genre | : |
| ISBN | : 9181080794 |
When the young Swedish-descended Alexandra Bergson inherits her father's farm in Nebraska, she must transform the land from a wind-swept prairie landscape into a thriving enterprise. She dedicates herself completely to the land—at the cost of great sacrifices. O Pioneers! [1913] is Willa Cather's great masterpiece about American pioneers, where the land is as important a character as the people who cultivate it. WILLA CATHER [1873-1947] was an American author. After studying at the University of Nebraska, she worked as a teacher and journalist. Cather's novels often focus on settlers in the USA with a particular emphasis on female pioneers. In 1923, she was awarded the Pulitzer Prize for the novel One of Ours, and in 1943, she was elected to the American Academy of Arts and Sciences.
