Meltdown Revolution

More hedge funds and investors engage in "Armageddon strategies" or disaster insurance against global meltdown

Opalesque, the world's largest subscription-based publisher covering the alternative investment industry, has launched the 32nd issue in a series of regional roundtable forums - the 2010 Opalesque West Coast Roundtable. The 25 page Roundtable publication can be downloaded for free at: http://www.opalesque.com/RT/RoundtableSF2010.html

 

The Western world has run up massive deficits in an effort to stabilize the markets and economies, but the financial system has not been meaningfully repaired. The authorities have not structurally changed the financial system: "All we did was provide huge amounts of liquidity. The markets are as vulnerable to financial shocks and at least as highly leveraged than they were before the financial crisis. The Fed has more than doubled its balance sheet and will have to exit markets at some point or its legitimacy will be called into question", says John Burbank from Passport Capital.

 

"Armageddon" strategies and how plan sponsors have changed their game during the past 18 months

 

Burbank added that a number of people have asked Passport to design funds comprised of macro trades that would help them hedge against systemic risks. Jay Gould from Pillsbury also helped creating distaster insurance or "armageddon strategy" funds which work under the premise that U.S. will experience a very difficult time over the next several years, "including hyper-inflation, the abandonment of the U.S. dollar as the world's reserve currency, further complications associated with our huge deficit spending, and a rush toward hard assets."

 

In this Roundtable, you will also hear from Nuveen's Ranjit Sufi how plan sponsors have changed their strategies during the past 18 months. This Roundtable further covers:

 

• Overview of the latest products and research from funds and CTAs on intermarket correlations and quantitative trading
• A discussion on the impact the regulatory changes will have on the markets: How will mandating more OTC products to clear/trade on an exchange impact liquidity? What is more important in a derivatives contract - liquidity or flexibility?
• The democratization of alternatives: More funds using the 1940 Act format will be offering real CTA strategies with daily liquidity
• Running a hedge fund from the West Coast: Why this location counts and where West beats the East Coast.

 

The Roundtable was sponsored by the CME Group and the Opalesque 2010 Roundtable Series Sponsors Custom House Group and Taussig Capital. The following West Coast based experts participated:

 

• John Burbank, Managing Member and Chief Investment Officer, Passport Capital
• Jay Gould, Partner, Pillsbury
• Jeremy Evnine, President, Evnine & Associates, Inc.
• Matt Osborne, Executive Vice President & CIO, Altegris
• Ranjit Sufi, Manging Director, Nuveen
• Rishi Narang, Founding Principal, Telesis Capital
• Tina Lemieux, Managing Director of Hedge Fund and Broker Services, CME Group
• Tom Shanks, Founder and CEO, Hawksbill

 

The Roundtable can be downloaded for free at: http://www.opalesque.com/RT/RoundtableSF2010.html

Matthias Knab, founder of Opalesque and internationally recognized expert on hedge funds and alternatives, moderates the Opalesque Roundtables. All other previously published Opalesque Roundtable Scripts can be accessed here:

http://www.opalesque.com/index.php?act=archiveRT

 

About Opalesque:

 

In 2003, with the publication of its daily Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund media space: "Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service." - Nigel Blanchard, Culross. This hybrid financial news service, which combines proprietary industry news stories and filtered third party reports, has been credited by many industry insiders with delivering precise, accurate, and vital information to a notoriously guarded audience.

 

Each week, Opalesque sends out over 700,000 editions of its twelve publications to a global readership in over 170 countries. Opalesque is the only daily hedge fund publisher which is actually read by the elite managers themselves (http://www.opalesque.com/op_testimonials.html).

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