【每日阅读训练第四期——速度越障24系列】【24-12】经管 Hedge Fund

鱼以类聚

感谢楼主~~~~
Speed:
1.1'50''  A biref introduction of the hedge fund and its aim.
2.2'00''  Hedge funds demand a large sum of money.                                    
             Hedge funds are loosely regulated and can be invested in a wide variety of strategies. However, diversification that means various products can also work against investors.
3.1'24'' The author introduces alternative mutual funds to us that offer most of benefits from hedge funds, lower entry level and so on. Moreover, the author holds a positive view on the development of alternative mutual funds.
4.1'29''  The author introduces his two favorite alternative mutual funds-BRBPX and AVGAX-and describes their annual profit rates, risks and expense ratio. At last, investors should consider risks carefully.
5.2'18''  Hedge fund industry is turning into another difficult year. With decreasing profit rates, claims for fund managers become negative. Although marketing claims have changed over the years, some things still seem certain.

Obstacle:
5'29''  Recently, hedge funds have encountered a trend of decreasing rate of return.
          Although many funds perform badly, there are still some superstars. Actually, justifications for poor performance are diverse.
          A brief introduction of George Soros and Julian Robertson, excellent investors of hedge funds.
          The rigidity of the new model and the size are two factors that dampen the return rate.
          Hedge funds, like other investments, are risky and should be invested diversely.

chasedream1122

2‘09
2’09
1‘58
1’30
2‘46

7’58

Speed---Introduction of Hedge fund, how it works and the how it suffers these days. (comparing to the rising of Alternative mutual fund)

Obstacle----how poor Hedge fund was performed and several justification in regard of that.

maskerbai

今天又看了一下Michelle同学的帖子，针对自己现在的情况，又有了一点儿体会：
1.        速度练习时，把握细节，学习准确定位。在做OG的时候，自己最差的地方就是细节题。要不就是耗费时间太多在一个题上，虽然能做对，但是需要付出的代价太大。速度篇文章长度与GMAT相似，意味着其中包含的内容多少与GMAT中文章也差不多，所以用速度篇练回忆，然后准确定位应该是最好的。
2.        “我们能达成共识的一点是：每个段落需要掌握的两个主要部分就是Purpose和content，而段落与段落之间的purpose串联起来就形成了文章的逻辑结构。”        ----by Michelle
越障文章是略长的，如果全部记忆细节，是很难回忆起来的。所以这部分最重要的分析好文章框架，也就是GMAT中的main idea题。

Hedge Fund
Time2 2’13
-What is hedge fund?
-Hedge fund allows investors to add or withdraw investment.
-Hedge fund aimed to have positive return and now takes a huge amount of investment market.
-Hedge fund market is lack of oversight by government and regulations

Time3 2’01
-Entering hedge fund requires high threshold.
-Hedge fund: diversification investment; lack of oversight; high risks of earn and lost.

Time4 1’39
Introduce a new kind of hedge funds: alternative hedge funds. This kind of funds requires less money to enter and is less risky. Furthermore, the alternative hedge funds have an increasing trends comparing to the traditional hedge fund market.

Time5 1’23
Introduce two qualified hedge funds with return ratio. The last paragraph explained the risks the investor bear. The hedge is a diversification, not a primary investment.

Time 6 3’01
Hedge funds investors are losing money this year. In the earlier years, investors earned money from hedge fund market, but the situations have changed. The article list four claims about the hedge fund:
1.        Pick the right investors (I think investors refer to hedge fund managers).
2.        Value asset so slowly that misleading the analysis?
3.        It is complex to manage a big hedge fund.
4.        Mutual funds vs hedge funds

Time 7 6’23 第一遍没读懂… 第二遍 4’09
Hedge fund market is under lousy situation comparing to its rival S&P 500. Although some HF investors still have a high return, more investors are lost their money. The reason is varies and the investor would like to bear more risks. Its size and rigidity of model are reason that HF are under lousy situation. Defenders claim that HF should have more diverse portfolios to avoid risks.

lucyqiliu

4'01’’ 365W The definition of hege fund.
第一次做作业，对文章每段的大意提炼比较差，只总结到definition这一点。经常看完文章后脑子里留下的东西不多，不知所云的感觉！好像不回读就读不懂。╮(╯▽╰)╭两分多钟的，都怎么练出来的啊？
先看一篇，慢慢加量。

cherry6891

占个位先 5环的人伤不起

Obstacle

The noble prize money will participate the hedge fund because the low return in other investment way.However not all hedge fund participant win money, actually one one third of them can make profits

Vagaries of the market make hedge fund high risk ,in conclusion, it is a lousy bet

2    2:31

Hedge fund is a collective investment scheme and today it refer more to the investment vehicle

Hedge fund is aim to make money regardless of wether the market is rising or falling and the fund only need to pay an annual management fee to the investment manage.Later United States and Europe will increase the oversight of the market to eliminate regulation gap

3    2:16

Rich guys have all fun. The best hedge fund need at least a million- dollar minimum investment

The best way to invest in a hedge funs is diversity the author conclude it in the end ,which is also what he learn from his investment experience

4    1:50

Mutual fund with a lower entry fund, lower costs but more regulation safety factor will be popular

5    1:46

Introduce two alternative mutual funds: BRB&AV

Alternative mutual fund:risk ,recommend as diversification investment not main investment

6     3:07

Before 1990 ,the hedge fund get profit above average investment , in 2000, almost equal ,in 2008 ,hedge lose 20%,for now ,it is not easy to make profit

Then the author lists something for certain : 1 the managers r smart 2 unrelated strategies in small environment 3 harder to outperform when the correlations are increasing 4 hedge fund managers are subject to same constraint with mutual fund manag

Rena张

这个hedge fund才只是time2！！！！！我以为我看完speed了……………………因为我花了15mins！！！
time1：打不开，晚上回家听
time2:15mins……………………这个翻译过来是对冲基金么 ........... ?
time3：5mins
time4：3mins
time5：4mins
time6：7mins——这一段看着容易走神………

"Risks to Consider: Alternative mutual funds should be used as a way of diversification and not a primary investment. The strategies employed often contain more risk than traditional mutual funds. This risk can be offset by higher rewards. Always use stops and position size properly in your portfolio.”
——这段话感觉对我这个金融小白来说，说跟没说一样样的~~~这些股票基金等等投资都是这样的吧~~高风险高回报。这几段话我得到的信息就是“和hedge fund比起来，这种alternative mutual fund的投资小风险小，但是回报也不小~~~虽然这种AMF是有这样的好处，但也还是要三思”~~~哎~~我是不是该买本金融方面的书来看看了~~~o(╯□╰)o

Rena张

感觉obstacle看着都比speed清晰简单多了~~~差点放弃speed跑去看obstacle了…………囧RZ~~~

sophia王晗

2'13.14''the definition of hedge fund and how it works. the investors will hire managers to manage their hedge fund and pay the managers some fee according to the fund percentage. because the hedge fund was not hold by the mass public, there are few law to regulate it but after the 2008 crisis, governments began to pay more attention to the fund
2'12.71''the hedge fund is pravite owned and requires minimum millions of investment which ordinary people cannot afford. because of various reasons, the fund can be beneficial but the reasons also can brought about risk and one cannot focus on a perticular fund no matter how confident he or she is about the fund, rather he or she should diversified the investment
1'38.66''there is a alternative mutural fund which requires less entry investment, cost less and has more oversight from government but invests in almost every area the hedge fund interestend in can benefit many investors and it may be the focus of the future
1'19.37''two of the author's facorite mutural fund. but people should consider the risk: alternative mutural cannot be the major investment and the risk may be offset by the high payback
2'28.03''all about the hedge fund manager
obstacle:4'18.99 这个真心没看懂

Dora7

time2:2'53''12 the conception of the hedge foud---a hedge foud's value reflect the amount investor can later withdraw---goal---some limitations
time3:2'22''82 Hedge funds can invest in a wide variety of strategies.
time4:1'54''67 compare to hedge foud, alternative mutual fund has some advantages.
time5:1'34''28 talk about two alternative mutual found;they can't be the primary investment.
time6:2'16''38 the decline of the investment return;change of the hedge found during the 20years;some claims

obstacle:8'21''4好像是在横向纵向的比较，总体讲什么好迷糊orz

kimwang53

1.59
1.31
1.27
1.22
2.05

6.03