hedge

Bear had been the only big firm that refused to help out Long-Term Capital Management, a hedge fund that came close to the brink in 1998.

The world of hedge funds might be very close to a big shake-up and, perversely, New York could be one of the winners.

A hedge against conflict, in the form of cash, short-term bonds and gold, should be part of any portfolio.

Surely property would be a good hedge against such an outcome, as rents would be expected to keep pace with higher prices in the long run?

Paramax also claims that UBS assured it that if it needed a "real" hedge, it would tear up the agreement.

Mr. Borden met Mr. Summers to discuss how much money a large institution should allocate to hedge funds.

Japan, in a volatile neighbourhood, is trying to hedge its bets. Yet it is not fully secure in its relationship with either east or west.

Investors consider it a hedge against inflation, an attractive quality amid a swelling budget deficit and increased government spending.

Their retreats have come in a changing landscape for hedge funds, pools of money that were once scarcely regulated at all.

However, the two cities have continued to see their share of hedge fund assets slide.

In London many small hedge funds cluster in Mayfair, far west of the City and Canary Wharf where the big banks camp out.

Investors who like to hedge their bets, meanwhile, can get a better sense of how much protection they might want.

Several of Morgan Stanley's hedge fund clientele said they were likely to return to the bank once markets stabilises.

In the long run, hopes for a more volatile yuan should tempt more hedge funds to dive into yuan trades, he said.

Prime brokers are trying to match their product offerings with the needs of hedge funds pursuing more complex trading activities.

Rising lease rates prefigured the last big move in gold back in the spring of 2007 just as the two Bear Stearns hedge funds were blowing up.

One of the reasons why the price did not fluctuate so much is that big corn buyers have learned to avoid loss by hedge trade.

He couldn't say precisely how much of the portfolio underlying the deal was designed by Paulson & Co. , the hedge fund betting on a decline.

But if the IEA's goal Thursday was to shake hedge funds and other financial investors out of the market, the move may have come too late.

In spite of a wave of floats and trade sales by hedge funds, only 13 per cent said they expected such a move in the next two years.

Flamand is setting up his own hedge fund and a Goldman Sachs executive in London said last month that the firm supports Flamand's plan.

Believe it or not, but Mrs. Clinton always trims the hedge with a pair of garden shears.

Turning off the highroad up a green lane, an hour later, he beheld a youngster prying into a hedge head and arms.

If this were just a case of hedge-fund managers and bankers spending their bonuses, then the bubble argument would have great power.

The hedge funds that own half or more of the German group would prefer to see cash returned to shareholders.

That may be so but the CSRC remains cautious on hedge funds, unsure as to quite how much risk they pose.

A few continental supervisors, led by the Germans, believe a set of "voluntary" rules for the hedge funds would be better.

As they walked along, their heads were in the sun while their feet were in the shadow of the hedge. They went into the field.

The high hedge curved into them, running off into the distance beyond the pair of imposing wrought-iron gates barring the men's way.

His subsequent hedge-fund work was one day a week.

Initial reports said the buyer was Russian. Other reports said it was a British hedge funder.

But a person with at least twenty-five thousand dollars to invest can put the money into funds that invest in hedge funds.

Meanwhile, other hedge funds in New York and London are now trying to get collateral back from other groups, creating more pressures.

The only asset classes in which investors planned to increase their holdings over the next three years were hedge funds and private equity.

Regulators, meanwhile, looked the wrong way: they were far more worried by hedge funds than subprime mortgages. That tends to be typical.

After a year like this, the balance of power between hedge funds and their investors has undeniably shifted.

It's a gamble. The hedge funds are mostly new to Hollywood. They've been warned against trying to run a studio on the cheap.

It is impossible to be sure how much Greek debt hedge funds have bought.

This reportedly involves investment by two unnamed hedge funds, which will finance a revolving fund of up to $300m a year for filmmaking.

Apart from his university commitments, he works for a small hedge fund and runs his own investment company on the side.

The engagement tends to be run by China specialists in the state department and the hedge tends to be run out of the Pentagon.

The cachet of investing in the best hedge funds meant a few celebrated managers were able to bargain for the longest lock-up periods.

And, finally, it may offer you and your family something of a hedge against the decline of the U. S. economy.

It would be a nice irony if the best hedge against a collapse of the post-industrial economy turned out to be a return to the agrarian past.

Furthermore, these traders continued to make money in 2008, a year when many banks and hedge funds gave back five years of returns.

Swiss court sided with the hedge funds, which had sued under a debt-collection law, but was overruled by an appeals court on a technicality.

Regulators are beginning to ask themselves whether hedge funds are adequately monitored through the supervision of the banking industry.

Harry knew instantly that this was what had been watching him out of the garden hedge that morning.

Hildebrand is also a realist who spent the early years of his career working for a US hedge fund.

Investment bankers are losing their jobs or at least seeing their bonuses cut, and hedge-fund managers are going out of business.

Volumes were exceptionally heavy as hedge funds, which had bid aggressively for IPO allocations, sought to turn a quick profit.

He said the Treasury was aware that "a number of hedge funds are now facing difficulty" and it was monitoring the sector closely.

In his left hand he carried a little bundle tied up in a handkerchief; in his right he leaned on a sort of a cudgel, cut from some hedge.

Switzerland has long been a centre for hedge funds thanks to its private banks and rich individuals.

Is a credit derivative used for speculation or to hedge risk?

One focus is whether expert-network firms leaked inside information to hedge funds and others, according to people familiar with the matter.

He took aim, hit it precisely, and the bird fell down into a thorn hedge.

Mr Obama said he rejected the idea that "asking a hedge fund manager to pay the same tax rate as a plumber or teacher is class warfare" .

'I don't see the risk of hedge funds being able to abuse the system, ' he said.

Twenty years ago, if you wanted to run a hedge fund in the British Isles, you probably had to do it in London.

The yellow flowers and the white flowering tree against the dark hedge of cypress, and the smell of spring, filled the land.

And yet it turned out for the hedge fund that both markets were dominated by the same few investors.

The stable was a broken -down hut with a leaking roof and a floor made of mud ; the only water was in a ditch under the hedge .

Twisting and slashing, he fought his way through the pack and backed up under the low branches of a hedge.

He is now working for - you guessed it - a hedge fund.

The dollar's losses also came in tandem with declines in gold, which is often used as hedge against high-risk events.

It claims, for an additional fee, to be able to put together a portfolio of the best hedge-fund managers.

The issue is all the more important at a time when institutional investors and hedge funds are focused on short-term price movements.

Hast not thou made an hedge about him, and about his house, and about all that he hath on every side?

At the moment, brokers are trying to rein back the funding they provide to the smaller and weaker hedge funds.

But if you make a 39% return on equity when everything goes right, what if things go wrong, and a hedge fund or two blows up in your face?

In its report, GFMS said that there had been "a major move into the silver market by a number of hedge funds" .

As a hedge, Gaines recently added Treasury Inflation-Protected Securities, or TIPS, to his and his wife's retirement accounts.

Financial speculation by hedge funds trying to exploit new markets, and panic-buying by importers, are making things worse.

This was a hedge against the French, who retained some influence over the police after Tunisian independence.

In much of the rest of the world, access to hedge funds is usually restricted to the rich and to institutional investors.

Local adaptability, disease resistance, cold resistance, like a strong water, appropriate hedge frame the cultivation, shoots short clip.

Try to extract money from a hedge fund manager or the founder of a private equity fund and he loses all sense of proportion.

"Today for hedge funds it's challenging . . . That community is not as regulated as other communities, and people are afraid, " he said.

Swap dealers used to be able to qualify for exemptions to hedge their risk after they wrote a swap.

To hedge against the widening of the spread, the company could purchase a put option with a strike at the current level of spread.

All that hedge funds, and other speculative investors, needed to do was to buy bonds on yields greater than their cost of finance.

Hedge funds are not the only ones that have been burned by their activities in commodity markets recently.

According to an analysis by Goldman Sachs, the yellow stuff has not been a reliable hedge against either risk or inflation.

In 1999, their hedge book blew up to more than a year of mine output, flooding the market.

At the time of its near demise, it was not even a major money center bank, but a hedge fund with about 200 employees.

As an analysis tool, though, it puts absolute return back where it should be: at the heart of hedge fund management.

Since the collapse of Lehman Brothers, the number of hedge fund launches has fallen far from its peak.

When a king's son came near to the thorn hedge, it was nothing but large and beautiful flowers.

Even the biggest of the hedge funds have only a few hundred employees, while the six banks employ 1m between them.

Hedge funds, always the most mobile of firms, are likely to be in the vanguard of any exodus.

Equities can be a decent hedge against creeping inflation, because companies are better able to pass off costs to customers.

Investment banks have become less disciplined in their dealings with hedge funds, the Bank for International Settlements will warn today.

To do this, they had to convince investors that the perception of hedge funds as a risky investment is no longer valid.

A massive shake-out of the bloated hedge fund industry is likely in the next two years.

They need not do the bidding of every hedge fund manager with some options but good ideas ought to be taken seriously.

A narrow path crossed through this hedge, and at the opening was a little hill that she ascended and descended as nimbly as a young woman.

Funds and funds of hedge funds raced to market, ready to sop up all demand for investments deemed alternative.

Most hedge funds do not mandate posture, but partners often encourage one another to sign them, to protect both the firm and themselves.

The heart of the document is one straightforward claim: that Goldman misrepresented the role played by Paulson & Co, a hedge fund.

Only for a passing hour I stood at the end of your courtyard outside the garden hedge.

After the meeting was reported, the Justice Department asked attending hedge funds to retain records of any euro-related trades.

Gold has historicaly had a strong correlation with crude oil prices, as the metal can be used as a hedge against oil-led inflation.

The state governor, David Paterson, seems to take hedge funds' threats to pack their bags seriously, and now wants to scrap the tax.

So it seems rather odd that they should have signed up for hedge funds which charge annual management fees of 2% plus 20% of any returns.

Tracking hedge fund managers and shifting funds between them offers an alternative to tracking the markets for wealthy investors.

One hedge funds manager said the average quantitative fund manager was down about 15 per cent in the first few days of August.

New York hedge-fund manager who made some of the biggest profits from the global credit crisis said yesterday that there was worse to come.

Hedge funds would not be able to profit by free riding if haircuts on Greek debt were made compulsory.

Investors are especially wary of going with smaller hedge funds these days at a time of increased demand for better risk management.

"Sometimes the best bet is the hedge bet until you know who's said yes, " a spokeswoman explained.

Hedge fund debt disaster Then there was the collapse of the Long-Term Capital Management hedge fund in 1998.

By working out the right combination of these factors, hedge-fund clones are able to offer theindustry's advantages at low cost.

They were willing to listen to slick hedge-fund managers who promised to make 30 percent a year on high velocity yak-hide arbitrage.

He is keen to emphasise it was one of the first asset managers among its UK peers to move into hedge funds 10 years ago.

Instead, I found a good balance between telling the story of hedge funds through tales and hard information.

More telling though is the fact that the hedge fund business, as he indicates, hasn't been as much fun as of late.

Executives and hedge fund managers began bragging about compensation packages that would have been considered shameful a few decades before.

It was the greatest opportunity of his career, hedge fund manager John Paulson told investors in 2006.

He seemed to suggest that the purpose of Vertical was to help Bank of America hedge its mortgage risks.

"Hedge funds used to be set up by two guys in a back alley with a flashlight, " says one veteran.

It is possible for asset classes to be uncorrelated when they are small, as private-equity groups and hedge funds still were in the 1990s.

Those returns contrast with a year-to-date gain of about 1% for the average hedge fund, though Tuesday, according to data tracker HFR Inc.

The European market had been confined to banks, hedge funds and the structured vehicles known as collateralised loan obligations (CLOs).

We don't know which of them is going to be elected chairman, so we'd better hedge our bets and he nice to both of them.

Mr. Sarkozy said he wanted Europe to set an example in regulating banks, hedge funds, tax havens and executives' pay.

It was evening. The garden hedge was all flower.

A countryman returning home one winter's day, found a snake by the hedge-side, half dead with cold.

The hedge funds they supervised lost their value in 2007. But jurors said there was no clear evidence that they meant to mislead investors.

Mr. Rogers said he was called by a Japanese hedge-fund manager this week in whose fund he had invested.

For that minority which wants the security that hedging offers, the Asian hedge-fund record is still not compelling.

Unless the starting assumptions are appropriate, the need for pension and annuity players to hedge is misleading, he said.

These for-profit hedge funds look out for their own investors' interests and not that of investors in the stocks they trade.

With volatility back, exchanges with the right derivatives mix look like they might have the perfect hedge.

Diane and I followed a flagstone path down the side past a hedge of miniature lilacs that stood naked for winter.

To boost yield, many funds do not hedge exchange-rate risk but exploit it by buying high-yielding currencies like the real.

He said CDS have been 'extraordinarily useful' in allowing institutions to hedge their own risks.

Zai, a veteran of the American housing bubble, currently works as an analyst for a New York-based hedge fund company.

It was evening. The garden hedge was all a flower.

"They need to strike the right balance between due process and a witch hunt, " said one hedge fund manager who asked not to be named.

Around about the castle there began to grow a hedge of thorns, which every year became higher, and at last grew all over the castle.

The Englishman 's suburban house has its little garden with a hedge or a fence all round it to shut him off from his neighbours.

Why would a Brazilian exporter to China choose to be paid in renminbi, when the dollar is so much easier to trade and hedge against?

It lured customers into two of its own hedge funds that were among the first to go bust in the current crisis.

[Hedge funds] have always been on the watch list of Chinese regulators so there's no urgency for them to open up the market.

Our coverage from Monte Carlo continues tomorrow with a look at how the recession has hit the hedge fund industry.

FOR a state more closely associated with cattle and cowboys, Texas is home to a surprisingly big herd of hedge funds.

In recent years there has been a convergence of financial services involving private equity firms, hedge funds and investment banks.

Once the investor has decided the percentage of his portfolio to be allocated to hedge funds, the fund selection process can start.

Traders and hedge-fund types are expected to scrap for every bit of momentary advantage to make their money.

Some are also trying to negotiate lower fees with the hedge funds they invest in.

But in the long term, it would be a good thing if they could not compete on pay with small private equity and hedge funds.

Stocks that had been widely held by hedge funds were some of the biggest decliners, including Bank of America, Dendreon Corp. and Lear Corp.

But it may also be that investors are more careless about choosing hedge funds than they should be.

The ambitious and the avaricious will no doubt seek more ex- citing hunting grounds with hedge funds and private equity groups.

Mukesh Ambani, the richest man in India, set up a joint venture with an American hedge fund to enter India's financial-services industry.

As a result of this regulation, oversight of hedge-fund activities will be greater, as will the cost of launching and operating a fund.

"It's not about inflation, " he said. "It's a hedge against a weak dollar, not a hedge against inflation. "

Free-roaming hedge funds seeking tremendous yields have got used to this uneven treatment, and tried to price it in.

Several big hedge funds are about to fail, says the voice on the line, and there's likely to be chaos when the market opens.

Apparently she makes them run a dummy hedge fund for a year and sees how they get on.

Is to promote sustainable economic development, to provide customers with added value and a hedge fund personal services important industry.

The trading desks of major investment banks and hedge funds have long sought maths and physics talent to try to turn science into profit.

The next generation Bruce Wasserstein wants to run a hedge fund, not be a banker.

He let himself down the hedge with a long thin bit of string .

A former hedge-fund manager who made a fortune shorting stocks has switched to the long side, and is raking in money in the process.

Mr. Soros was a pioneer of the modern hedge fund and is one of the world's most well-known investors.

India is rapidly becoming a strategic ally of the United States, which sees it as a natural hedge against the rise of China.

For a young man with no trading pedigree and no hedge fund experience, this investment was admission to the major leagues .

Brown said the final deal included agreement on tighter regulation of hedge funds, tax havens and the banking system.

Hedge funds and other large investors must also be closely monitored to ensure that they do not build up dangerous imbalances.

The pure pressure on women executives these life came into converge final hebdomad at a conference of the 100 Women in Hedge Funds group.

The burgeoning hedge fund and private equity industries are both a cause and a symptom of a dangerously lopsided America.

Markets have been able to absorb blows, including the $6bn collapse of the hedge fund Amaranth Advisors, without faltering.

I had short call options for my customer, which gave them the right to purchase stock, and I also owned equity to hedge my risk.

"DSK was a politician and an economist who would push his own ideas, " says one hedge fund manager who monitors the IMF.

That would disappoint the hedge funds that have been driving up the price of the 9% of shares already quoted.

To hedge against the possibility of a falling greenback, consider putting about 5% or so of your savings into foreign currencies.

"So, in relative terms, gold is appealing to people who ask, 'where should I put my money? ' It is a hedge against uncertainty, " he said.

That is undeniably true: he has a degree in electrical engineering, a PhD in finance and was an investment banker and a hedge fund manager.

There had been fears that hedge funds would be less willing than banks to stump up rescue money in a crisis.

"THIS is going to be the next great trade, " one American hedge-fund executive effused early this year.

Had Fannie and Freddie been hedge funds, this strategy would have been known as a "carry trade" .

Had the bank run into financial difficulties, clients such as pension funds and hedge funds would have been at risk of losing their money.

Corporate treasurers can now hedge many transactions that previously remained on the balance sheet of the company.

Rumours the bank faced a cash squeeze led clients, including big hedge funds, to demand their cash balances back.

Volt Capital was designed to be a hedge fund, utilizing some of the AI expertise to analyze the stock market.

But over the long term, the participation of hedge funds has to be a good thing.

It was a fairly large room overlooking a garden with many cypresses for a hedge, and beyond it was a monastery, red-roofed.

The RBA said hedge funds returned the same as local shares over the past five years, or 12% a year after fees, albeit with lower volatility.

And yet despite such hopes, they still seem destined to constantly hedge against each other, in both domestic and foreign policy.

They seemed to be dancing in a slow and sad cotillion, while behind the hedge on every side were warders armed with guns.

Ye have not gone up into the gaps, neither made up the hedge for the house of Israel to stand in the battle in the day of the LORD.

If the cost of the protection rises to a certain level that would trigger a scaling back of Morgan Stanely commitments to hedge funds.

If the private-equity firm once memorably described as the "Barbarians at the Gate" [5] can turn into a tree-hugger, why not hedge funds?

Hardly a week goes by without the implosion of a hedge fund.

For a small hedge fund, the annual fee may not be enough to pay the bills.

Most of these large boiler burners arranges into a hedge form and adopts the oilless ignition mode for startup.

Hedge funds may well have been selling their commodity positions to meet demands for cash from other parts of their portfolios.

how pathetic that they cover their ignorance by blaming hedge-fund managers in London.

Prosecutors say Mr Gupta had a financial interest in the success of Galleon, Mr Rajaratnam's hedge fund, because he was an investor.

And it is still possible to short sovereign debt directly: Belgian bonds are "the next big trade" , says one undeterred hedge.

Financial regulations on hedge funds and over-the-counter derivatives are expected to be discussed, Seoul officials said.

In this political climate, if everyone calmed down and hedge fund managers paid some more tax, that would be fair enough.

"You have to understand, " he told me, "Iceland is no longer a country. It is a hedge fund. "

George Soros, the hedge fund manager, said the Fed was "well behind the curve" .

Second, another pivotal measure is to hedge against the total amount of capital inflows.

Are well-to-do but not wealthy Asians ready to evaluate hedge funds properly?

The hedge fund Amaranth Advisers lost $6bn in September as the result of a single trader's bet on the natural gas market.

As a group, hedge funds were up in 2007 when the markets were down, and they lost only half as much in 2008 as the S& P 500.

For the moment, the balance is maintained by what Nick Carn of Odey, a hedge-fund group, calls "mutually assured destruction" .

Pakistan had supported Afghanistan's Taliban regime, Afghanistan is considered to be wanted as a hedge against India's strategic depth.

The hedge fund managers came first, but the support system that followed them has now become one of the main attractions for newer managers.

The model of the hedge fund industry they popularised, able to deploy billions of dollars on a whim, is fast becoming a thing of the past.

The trick, practitioners believe, is to assure once-stung investors, especially hedge funds, that Britain is still a user-friendly place.

And while it is possible to hedge against stock or interest-rate moves, there isn't a pure financial hedge for longevity.

Those with spare cash, including companies, are clinging on to it as a hedge against an uncertain future.

However, hedge funds currently play a limited, almost zero, role on the mainland, at least legitimately.

Sure enough, hedge funds have seen big cash inflows recently but they are not proving as safe as investors might have hoped.

Hedge fund fee structures rarely allow investors to claw back fees if years of profits are wiped out by a single year's giant loss.

With the enormous expansion in the number of institutional investors (those other than banks, such as hedge funds), all that has changed.

Every week a billion-dollar hedge fund or private equity firm seems to announce an office there.

Erika, his character from a tough background, manages to get to just such a school established by a billionaire hedge fund trader.

Many hedge funds are pure traders who buy debt cheaply and try to sell it as the price inches up, looking to make a quick buck.

A cyclist coming along the road had to run into the hedge to avoid imminent collision.

And many investors will still look to cross-border diversification as a hedge against home currency weakness in a very uncertain world.

The bank is discussing plans to either spin off Phibro into an independent hedge fund or open it to outside investors, the people said.

But quant-based funds are not the only hedge funds that are positioned to potentially benefit from this investigation.

The U. S. dollar has steadily lost value, so some investors have bought gold as a hedge against the greenback.

Yet, looking back on her six years at the hedge fund, which she declines to name, she wishes she'd worn more jackets to work.

By focusing on the managers who run hedge funds, the system has so far avoided any major instances of fraud.

Privately , exchanges see opportunity in a well of discontent among some of the more profitable bank customers , particularly hedge funds .

I caught sight of the boy who was trying to hide behind the hedge.

And for many hedge funds, desperate not to let others see their plans, it is actively counterproductive.

Something like this indiscriminate selling has been affecting hedge funds over the past couple of weeks.

No wonder the grass grows up between the flags, and cattle are the only hedge-cutters.

can be said to be a hedge on the conservative investment strategy hedge fund management forms.

Always try to be friendly with your neighbor, but leave the hedge standing.

These issues are among the latest to have emerged as stock trading has become dominated by super-fast computer systems used by hedge funds.

What, I asked her, did she do if the long-only managers aspired to run hedge funds instead?

Real estate may be a classic inflation hedge, but it seems likely to disappoint investors this time around.

Most hedge funds do not regularly liquidate their entire portfolio, so they report unrealized gains to their investors and to the public.

Mr Byrne has started a lawsuit accusing hedge funds of colluding to drive down the company's share price.

The stellar hedge funds of the 1990s failed to make it to the top-ten this decade (see chart).

It called for better financing services for bullion, opening the door for Chinese banks to hedge their gold risk overseas.

Once a buttoned-up industry, its change in attitudes is now apparent, from the open-necked hedge fund managers of Mayfair to the big banks.

Hedge fund manager Jim Chanos, who made his billions shorting Enron, believes China is an even bigger bubble waiting to be pricked.

The next year, the New York Fed bailed out Long Term Capital Management to avoid wider market impact from the hedge fund's short positions.

However, in the short term at least, the arrival of hedge funds is already having a significant impact on the way that business is done.

Whether the hedge and increment of enterprise pension investment can be realized will influence life standards for retirees directly.