By Robert Jaeger
In operating for a fund of hedge money (similar to the writer) i discovered this publication to be very exact. it is a nice evaluation of the (particularly from the fund of money side). i might hugely suggest this to somebody in need of an exceptional assessment of the company.
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Extra info for All About Hedge Funds: The Easy Way to Get Started
This time, rather than showing the rate of inflation, we are showing the actual increase in the general level of prices. Then we show the level of the stock market, both before and after inflation. What we are showing is the value of $1 invested in the S&P 500 on January 1, 1926. The change in value reflects the impact of dividends, and the reinvestment of those dividends. The stock values are shown on what is called a logarithmic scale, where equal vertical distances represent equal percentage changes.
Or, to put the point more carefully, they face only those conflict-of-inter- Hedge Fund Managers and Clients 43 TE AM FL Y est issues that arise in any business. The situation changes in the third and fourth categories. For example, consider the traditional money manager who begins to offer hedge fund strategies. The basic obligation of a money manager is to treat all clients fairly and equitably. At the very least, this means that the firm cannot use the assets of one client to benefit the account of another client.
As the bull market unfolded, the technology sector of the S&P 500 moved from less than 10 percent of the index to more than 30 percent. Normally, a portfolio manager who was worried about technology valuations would want to be “underweight” in technology. But, in the highly regimented world of institutional portfolio management, hesitation about technology valuations might have translated into a 20 percent weight, rather than a 30 percent weight. Even if the portfolio manager’s basic instinct was to hold no technology stocks at all, acting on that instinct would likely have presented too much career risk.