Hints and tips:
...The models of OpenGPT-X are being built in conjunction with German AI start-up Aleph Alpha....
...Severance costs ran to $975mn, according to a company filing, though that cost was offset by “decreases in payroll, bonus and other benefits expenses”....
...A majority of them do beat the market even in the long run, but most of the alpha they produce is gobbled up by fees. On one hand this is unsurprising....
...Empowered, a subsidiary of Alpha Architect doing business as EA Advisers, will serve as the funds’ adviser....
...The Big Read does a great job of looking at the downsides and dangers, such as the risks of crowding, leverage, alpha decay etc, and to be fair to them, investors aren’t blind to this either....
...Bridgewater offers different flavours of its strategy and we don’t know how much of its estimated $150bn of assets under management are in Pure Alpha, the more leveraged Pure Alpha II, its risk parity funds...
...Of the 22 hedge fund trader hires that headhunter OCR Alpha listed for September across the industry, eight of them were made by Millennium — by far the largest by any single firm....
...“Frankly, I don’t think this is a problem we need to solve and definitely not a service that VCs should offer,” she said....
One style to rule them all, and in the alpha bind them
...May 2022: “ . . . the Directors of the Fund have determined to suspend subscriptions to the ISG [Margin Lending Fund] and IBA [Bitcoin Alpha Fund] funds to protect potential new investors from 12 May, 2022...
...Tulchinsky, whose intense gaze and head-to-toe black attire give him the air of a James Bond villain, refers to these algorithms as “alphas” and to WorldQuant as the “Alpha Factory.”...
...Multi-strategy funds last year delivered their highest level of “alpha” — industry jargon for profits above and beyond the market — since the aftermath of the financial crisis in 2009, according to JPMorgan...
...The classic statement of this view of Berkshire is a 2013 article from AQR, called “Buffett’s Alpha”....
...According to Quentin Thom, co-head of perfORM Due Diligence Services, such costs have been pushed higher by the coronavirus pandemic....
...“Everybody likes to forecast recessions and there will be one,” he said at CNBC’s Delivering Alpha conference in New York on Wednesday. “It’s just a question of when, and frankly, how hard.”...
...“Our focus on credit fundamentals and purchase price discipline continues to resonate with clients, as the difference between alpha generation and beta becomes increasingly clear in this environment,” said...
...Alpha Architect said in January that it would turn five ETFs into active strategies — after converting them to passive ones five years earlier....
...This month Silver Lake agreed to buy the French payroll provider Silae in a €570m acquisition that marked its first European deal since the pandemic began....
...The company is on track to service the monthly payslips of more than 4m employees in France....
...Pure Alpha is up 26.2 per cent through May....
...Net profit rose 162 per cent to $17.9bn, versus a consensus of analysts’ forecasts of $10.5bn, as calculated by Visible Alpha....
...We need to lower the burden of taxes on labour, on work, cutting income taxes, payroll taxes, any tax that creates a cost for hiring people into better jobs....
...One former employee described the current situation as akin to “trying to run your payroll system with an abacus”....
...While Tudor, Moore, Brevan Howard and Caxton have delivered so far in 2020, the flagship “Pure Alpha” fund at Bridgewater was down almost 14 per cent for the year through June, according to people familiar...
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