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

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

tsun9920

回头补起来！！！占座位先

suyuchen

哇塞~~~对冲基金
2'30''
2'10''
1'49''
1'30''
2'27''
5'57''
越障好难，同志仍需努力~

tsun9920

9/9
2:11 [365]The definition of hedge fund.
the return of Hedge fund lies in its future value. Nowadays people use hedge fund as a financial vehicle rather than a financial technique.
Hedge fund has been widely used and invovled in a great amount of money in the world.
Many countries have improved the regulation of hedge fund in order to eliminate investment gap.

2:20 [319]
hedge funds involves millions of dollars.
what is hedge funds? It is a partnership that employs diverse strategies . It could include various objects, such as currency, commodities, and so on. The regulation that hedge fund is subject to is loose, due to those diverse strategies.
It takes great risk. There is no guarantee for the money invested. An example of five partners teaches us a lesson about it.

1:46 [267] The article talks about a new investment instrument-alternative mutual fund. The author compares it with the traditional hedge  fund , in terms of cost, regulation, leverage limitation, and etc., and concludes that the alternative mutual fund is a good choice for people who do not want to put too much money on it.

There is an alternative fund called alternative mutual fund which mimic the strategies employed by hedge fund. But the operation of this new fund needs much less money than hedge fund. In addition, it has less leverage. In a word,  alternative mutual fund has almost every advantage of hedge fund, but with radically lower cost. Furthermore, the regulation is enough. So the alternative mutual fund is a good choice of investment.

1:45 [248]
the article introduces two mutual funds,XX and Alpha, in terms of its return, expense ratio, risk, fees and strategies.Alpha has a high return, high expense ratio,and it invests on a wide range of objects. The author suggests  investors to own this funds as diversification rather than a primary investment. The high risk can be offset by a high reward.

2:20 [416]
hedge funds are not performing well recently. People withdraw great amount of money out of hedge funds. In the past , it was considered wisest investment and never lose money.
People are thinking about the causes for it.

1. hedge managers are smart , some are even smarter than average investors, and it is hard to identify those investors in advance

2the strtegies are not correlated

3 as the industry broaden, the correlation with s&P indice increase. It is hard for managers to outperform
4 managers are subject to the same constraint as mutual fund, but for hedge fund, it has higher fees, so the net earning is lower.

3:21
Nobel foundation plans to increase its investment  in hedge funds. The current situation faced by hedge funds is a mediocre one, but its rival, S&P 500, performs much better over the past ten years.  There are successful investors but most of investors lost their money.

There are many reasons for poor performance of Hedge fund. The requirement of investiors on hedge funds, e.g., scale , size.. It is difficult to predict the future of hedge fund and other investment instrument.

sasa花音

Time 2: 2’05
The definition of Hedge Fund.
The traits of the Hedge Fund.
Time3: 2’15
An intro of the topic.
The Hedge Fund requires highly accredited investors.
The Hedge Fund is a loosely regulated private investment partnership that invests in a variety of strategies.
How it is loosely regulated.
The risk of the hedge fund.
Time4: 1’53
The solution to the problem that hedge funds have caused is to turn to the alternative mutual funds that do not have the bad aspects of hedge funds but mimic the good aspects of them.
The alternative funds are being more and more popular.
Time5: 1’57
Two favored alternative mutual funds.
The risk to be concerned of using alternative mutual funds: the funds should not be a primary investment, since the risk of them is bigger than that of traditional mutual funds.
Time6: 2’34
The hedge funds have not performed well during the past 18 months.
Some argue that the phenomenon shows that hedge funds investors are not so smart and that the investors achieved uncorrelated returns.
The author analyzed what contribute to the phenomenon and refuted some of the claims other people made about it
Time7: 6’20.


读得很吃力 越障还要再读

winnie加油！

[Time 2][365]1：57
Hedge funds invest in a diverse range of markets,  instruments, and strategies and aim to achieve a  position return on investment regardless of whether markets are rising or falling. Hedge funds are  subject to the regulatory restrictions of their  respective countries.
[Time 3]【319】2:01
Hedge funds typically require a million-dollar  minimum investment and the investor to be accredited. Hedge funds are loosely regulated private investment  partnerships. The less regulation and oversight than  other forms of funds permits hedge funds can quickly  alter course in search of profits.
[Time 4]【267】2:08
There are limits on leverage that can be employed by  alternative mutual funds. But the benefits overweight the weaknesses. Investors do not charge the standard  yearly, and do not need to be accredited and invest  far less money.
[Time 5]【248】1:35
The author has two favorite alternative mutual  funds, Bridgeway Managed Volatility Fund and Dreyfus  Global Alpha Fund. Both of them have high return and  low expense ratio, while consider the higher risk  also than traditional mutual funds.
[Time 6]【416】3:12
The marketing claims of hedge funds have changed over the years. It is not the period that hedge fund  managers obtain absolute returns but they may lose money.
Obstacle【931】7:27

TaoRs92

time:2:18.87
What is Hedge funds.
Some regulation to limit Hedge funds.
What is the way that people invest Hedge funds and get interests.
The percentage of Hedge funds in all funds.
___________________________
time:2:21.02
Hedge fund is always for those people who invest a few part fot their assets rather than the majority part.(high-class,really rich people)
What is Hedge fund.
The profits of Hedge fund is never garunteed.
The wide divertification of Hedge fund and this strategy is really important in this investment.
_________________________
time:1:46.94
The alternative mutual fund.
Investors don't need to invest much money and pay many fees to invest this fund.
This fund also invests in those parts that Hedge fund invests.
The regulation and oversight of this fund will be better so that this fund is safer.
This fund may be more and more popular in the future.
______________________
time:1:32.42
The two alternative mutual funds that the author prefers.
The investment field and performance and fees of these two funds.
Notice:alternative mutual fund can not be a primary investment but a choice of diversification.
_________________________
time:2:58.09
The performance of Hedge fund in recent years were not good.
Four facts and flaws:
1 It is difficlut to identify smarter investors.
2 Deals are slow because investors are few.And the change of valuation is unpredicted.So assests and some strategies can not be adjusted quickly.
3 The correlation between Hedge fund and the index is incresed so that it is difficult to point out the perform.
4 Index minus costs.The suffer of investors will be larger than other investors.
____________________________
time:8:33.36
The performance of Hedge fund is not good,compared with normal investment types.
The reason of this unsatisfied performance is variable.
1)The market is not free enough,the government has some control on the market.But this reason is questionable becuase the Hedge fund is under less regulation than other funds.
2)Investors asked the Hedge fund to keep a regid model and use solid strategies.And the size decreased.This led to the second-rate choice and decreased the return rates of Hedge funds.
Some defenders think that there are many other appropriate stratigies people can use to invest,rather than the high-fee and high-risk Hedge fund.
Hedge fund and other funds,which is better?This question is uncertain.

一小拉Maple

2：36
what is hedge fund; Hedge fund is restricted in some countries because it is a means of specular; Hedge fund is not sold in retail.
2:21
Hedge fund requires a large amount of money so that  people seldom treat it as a part of portfolio but as a main investment. It's risk is very high. many of sb's friends lost their mony in the hedge fund.
2:13 Hedge fund is of high risk. an alternative_mutunal fund can replace it
3:15 Hedgre fund has been in bad condition for 18months.there are 4 rasons
8:04