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online.wsj.com - 12/16/2008
Funds of Funds' Madoff Problem
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The fund-of-hedge-funds industry needed the Bernard Madoff scandal like a hole in the head. Already reeling from the financial crisis, assets under management fell from $826 billion at the end of June to $685 billion by the end of October, according to Hedge Fund Research. The fact that so many ...
traderdaily.com - 12/16/2008
Funds of Funds in a Funk
— traderdaily.com — The fund-of-hedge-funds industry needed the Bernard Madoff scandal like a hole in the head. Already reeling from... the financial crisis, assets under management fell from $826 billion at the end of June to $685 billion by the end of October, ... (more) Funds of Funds in a Funk
Comments vote down Emini Addict found this 12/16/2008found this
Madoff on Madoff
paul.kedrosky.com - 12/12/2008
Madoff on Madoff
— paul.kedrosky.com — Some snippets from the legal complaints related to the Bernard Madoff legal blockbuster. Recall, his advisory firm... has been alleged to be -- including by his own supposed admission -- a multi-billion dollar Ponzi scheme.     More ... (more) Madoff on Madoff
Comments vote down TIM - Timothy Sykes found this 12/12/2008found this

Blog Reactions

Trader Daily Combined Feed:  Funds of Funds in a Funk

Abnormal Returns:  Tuesday links: another Ponzi post

The Aleph Blog:  Nonlinear Dynamics in Portfolio Management

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Blog Reactions

Funds of Funds in a Funk
Trader Daily Combined Feed — ... of diversification has been undermined by poor results. In the year leading up to the end of October, the average FOF was down 19% -- worse than the average single-manager hedge fund, which was down 17.7%. Diversification has proved little use in a crisis where asset classes have tended to correlate. Losses have often been amplified by the effects of leverage, plus extra layers of fees. Investors must pay steep FOF charges as well as those on underlying funds. Continue reading on WSJ.com

Tuesday links: another Ponzi post
Abnormal Returns — ... Hedge fund of funds get a black eye from the Madoff scandal and sinks hedge fund indices in November.  (WSJ.com, ...

Nonlinear Dynamics in Portfolio Management
The Aleph Blog — ... .  They look at past uncorrelatedness, and presume that past is prologue.  Thus someone with a positive alpha, and uncorrelated returns can get a big allocation, like Mr. Madoff. ...

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