[(Financial Econometrics Modeling: Derivatives Pricing, by Greg N. Gregoriou, Razvan Pascalau (eds.)

By Greg N. Gregoriou, Razvan Pascalau (eds.)

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Extra resources for [(Financial Econometrics Modeling: Derivatives Pricing, Hedge Funds and Term Structure Models )] [Author: Greg N. Gregoriou] [Jan-2011]

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The FBI arrested the founder of this hedge fund on allegations of insider trading. There is the well-known Paradox pointing to those scale effects: “The people who most need the money are worst credits risks and thus cannot get a loan, whereas people who least need the money are best credit risks and thus once again the rich get richer” (Tooby and Leda 1996). 30 W. Semmler and R. Chappe 19. Early contributions include Fisher 1930; Keynes 1936; Vickrey 1947; Duesenberry 1949; Hicks 1950; Pigou 1951; Friedman 1957; Friend and Kravis 1957; and Modigliani and Ando 1960.

It applies to any fund that issues securities and “is or holds itself out as being engaged primarily . . ”23 Among other things, the Investment Company Act requires registration with the Securities and Exchange Commission (SEC) and sets reporting requirements to investors. 25 This explains why hedge funds have deliberately chosen not to raise capital on public markets. Two recent examples of substantial private initial offerings are that of Oaktree Capital Management LLC, which sold approximately 14 percent of its equity for more than $800 million in May 2007, and Apollo Management LP, which privately raised $828 million in August 2007.

Hedge Fund Intelligence March 2009. HFR Global Hedge Fund Industry Report, Fourth Quarter, 2008. HFR Global Hedge Fund Industry Report, Fourth Quarter 2008. Deutsche Bank, 2010 Alternative Investment Survey. S. 441 trillion in 2008. This has been described as having option-like features in that the manager has an incentive for volatility in returns (Cochrane 2005). Using the TASS database. 7 trillion of total market positions at the end of 2008. 6 billion while assets had grown to $102 billion at the end of 1995.

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