The alpha hunt

Thu Feb 1, 2007


At the 2006 Absolute Return Symposium, industry luminaries reveal profitable routes through today's uncertain markets


At the 2006 Absolute Return Symposium, industry luminaries reveal profitable routes through today's uncertain markets

Despite rocky markets and the historic blowup of $9.1 billion Amaranth Advisors in 2006, many hedge funds were able to exploit the dislocations and a market rally to end the year with big profits. The third Absolute Return Symposium, held November 28 to 29, gave some of the industry's most well-regarded names a chance to discuss how they did it - and where and how they expect to be able to do so again this year.

"The kinds of opportunities that are available are much more subtle, much more sophisticated. And there are more people scrambling for those same sorts of profits," said keynote speaker David Shaw, founder and chairman of $26 billion D. E. Shaw, contrasting the present environment with the early days of convertible bond arbitrage, which he likened to "printing money."

Shaw...

ISSN: 2151-1845 / CDC10004H

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