Ted Seides, CFA, is the Managing Partner of Hidden Brook Investments, LLC, an advisory and private investment firm. His first book, So You Want to Start a Hedge Fund: Lessons for Managers and Allocators, (Wiley) was published in February, 2016. Seides was a founder of Protégé Partners LLC, where he served as President and Co-Chief Investment Officer. He began his career in 1992 with the Yale University Investments Office. Seides sits on the Board of Trustees of the Greenwich Roundtable, and is a Trustee and member of the investment committee at the Wenner-Gren Foundation. He serves on the Board of Technoacademy, and previously was a Board member of Citizen Schools-New York. Seides holds a B.A. in economics and political science, Cum Laude, from Yale University, and an MBA with honors from Harvard Business School.
Standing seven years into a 10-year wager with Warren Buffett that hedge funds would outperform the S&P 500, we sure look wrong, says Ted Seides, CFA. What follows is an assessment of why, and an outlook on where to go from here.
“And the seasons they go ’round and ’round
And the painted ponies go up and down
We’re captive on the carousel of time”
— Joni Mitchell The Circle Game
The hardest day to invest is always the current one. Despite this truth,… READ MORE ›
Creating a hedge fund index that reflects investor experience is certainly a challenge, but the assertions made in the academic research point fingers at the wrong issues. Ted Seides thinks it worthwhile to set the record straight.
The $2 trillion question is not whether hedge funds do something valuable in the markets; it’s whether hedge funds are worth the price. Ted Seides presents three different arguments in support of hedge funds.
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The Securities and Exchange Commission and the Financial Industry Regulatory Authority have increased scrutiny of investor fees and high-fee share classes, a shift due partly to the Labor Department's fiduciary rule, as well as a trend toward passive investing, industry participants say. "The regulatory bodies believe that the all-in cost of retirement is too high," said Whitfield Athey, CEO of Delta Data. InvestmentNews (tiered subscription model) (14 Dec.)
Japan's major corporations are more confident about the economy than at any time in the past 11 years, according to the Bank of Japan's Tankan survey. The quarterly reading reached 25 for December, up from 22 in September. Nikkei Asian Review (Japan) (tiered subscription model) (15 Dec.)
The Republican-controlled Federal Communications Commission has voted 3-2 to repeal net neutrality, which prohibits internet service providers from favoring some users over others. Supporters of net neutrality, which was enacted during the Obama administration, said they might challenge the FCC's action in court. Bloomberg (free registration) (14 Dec.)
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