ManyPeaks.com

My view is likely colored by the +1% performance in client accounts, but it’s an objective fact that we saw plenty of sweet upside action today. It was all under the surface, decidedly not represented by the Dow Jones Industrial Average’s 48 point loss that the public heard about on the national news […]

What’s this, a hedge fund deciding to offer greater transparency and liquidity to clients? Monthly reporting and short lockups? What could they be thinking!
As a newer manager with a very pedestrian 9 month public track record, I basically have to offer such features.. In fact, Teewinot clients have 100% liquidity and receive […]

We experienced a a solid upside week in the equity indexes. Teewinot captured some of the nice moves made available to us and will attempt to build on those gains in the coming weeks. Our smattering of stocks performed well, our short hedge lost a little, and clients’ Railroad stock holdings — our […]

First and most obvious is the smart money / dumb money issue. If the smart guys are selling, do you really want to be buying? This is a concept to consider with any IPO… but in most IPO’s it’s businessmen & entrepreneurs cashing out, not savvy hedge fund & private equity guys. […]

The New York Times’ estimable DealBook blog posted today that Many Investors Fume Over Hedge-Fund Rule.  I’m m not the only one thinking the government should do far less “protecting” us from ourselves.
Last week’s IPO of Fortress (FIG) brings still another interesting twist on the issue — which I still promise to cover this week.
The […]

While mildly bearish in my market outlook, I haven’t shared any anecdotal signs of a top recently. They keep coming:

Biggest LBO ever was announced last week when Blackstone took out EOP, the world’s largest REIT. Rival REIT Vornado was unwilling to bid as high, saying that doing so would hurt their shareholders. […]

Thomas Peterffy, founder of Timber Hill and Interactive Brokers, reminds me in this missive how important the “other half” of any investment decision can be.
The concept goes all the way back to Corporate Finance 201: Decide what to invest in, and how to finance it.
He describes a key benefit of using futures to go […]

I’m not here to rehash the game itself.. Chris Berman & Tom Jackson do a great job, so we’ll stick with my area of knowledge. Plus I bought a Bears contract for $30 on World Sports Exchange during the 2nd quarter (sold out at $20 just before halftime), so what do I know.
First off, […]