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Hedge Fund Leverage. Too much or too little?
Every time there is a hedge fund crisis the subject of leverage comes up. But how does one define leverage in a hedge fund? Is it the same definition you would use for a proprietary trading desk being allocated risk?
Let’s deal with fixed income and credit strategies separately [...]
It is time for central banks to back away. Not from raising or cutting rates. It is time for them to extricate themselves from any activities that might distort market prices.
It is time for governments to back away. The economic purpose of government should be to provide frameworks and systemic infrastructure, and to only provide [...]