In 1949 Alfred Jones launched what is now considered the first hedge fund. Over the years the hedge fund industry has expanded dramatically to include a wide variety of strategies; many of which look nothing like Jones’ original fund. But there are funds today that still hedge their portfolio using the traditional long/short construction.
So far in our Fed Ed series we've looked at the history of the US banking system, reviewed the first 100 years of the Fed’s activities and provided an outline of the Fed’s structure and basic operations in the financial markets. This week we conclude with a focus on the highly controversial policy of quantitative easing.
The sad but true reality is that the average American is heavily impacted by the Fed’s policies, but really has very little understanding of what the central bank actually does.This week we try to pull back the curtain on the mystery of how the Federal Reserve is structured and its basic operational functions.
In the novel Frankenstein by Mary Shelley, Dr. Victor Frankenstein takes pride in his wisdom and decides to play god by experimenting with the creation of life. In a similar vein, the Federal Reserve was born out of the wisdom and confidence that a central bank can benefit a country’s citizenry by managing the economy.
Over the next four weeks we will be doing a series of Insights on the Federal Reserve. Today we start this series by taking a look at the history of the US banking system and the events leading up to the creation of the Federal Reserve under the Federal Reserve Act of 1913.
The 361 Managed Futures Fund can be thought of as a stock market sniper as it patiently waits in cash for the opportunity to take a shot. The premise of the strategy is that one need not be exposed to the risk embedded in the stock market 100% of the time in order to capture the lion’s shares of the returns.
The historical record clearly shows that the politicization of the debt ceiling that we are seeing today is nothing new. That said, we are closer to an actual default today than we have been in the past, and the chasm separating democrats and republicans on this issue has caused nearly the entire globe to begin asking tough questions. A US default…what does that even mean?
We are constantly asked whether clients should be funneling money into a 401k, an IRA, or simply saving their money in a taxable account. Although the circumstances and goals/objectives of each client are different, this week we cover some basic “rules of thumb” for retirement savings.
The month of September brought a slew of positive marginal changes in global economic data, the FOMC decided to leave its quantitative easing program unchanged at $85 billion a month, and Congress decided to embark on the "Shutdown Showdown."
We have been, and continue to be, in a policy-driven market environment. While the focus has largely been on the Federal Reserve’s monetary policy, Washington’s fiscal policy has also been hugely influential.
American Realty Capital (ARC) has been a disruptive force in the private REIT industry. Historically, private REIT offerings were littered with conflicts of interest, high fees, and no liquidity. ARC set out to change the game by creating more transparency and aligning management’s incentives with their shareholders.