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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LCH says it has not seen a shift in euro-denominated clearing to the Continent, despite predictions the move would occur after Brexit. But EuroCCP CEO Cecile Nagel says, "The direction of travel is clear: There is going to be ongoing effort to drive more activity into Continental Europe." The Trade (UK) (20 Feb.)
The Australian Prudential Regulation Authority is increasing surveillance of whether financial institutions are ready to deal with risk posed by climate change by stress-testing climate resilience. Meanwhile, the Reserve Bank of Australia is trying to understand the "full dimensionality" of the economic impact from climate change. BNN Bloomberg (Canada) (20 Feb.)
A study by Capco shows banks, custodians and buy-side firms need to find $97 billion in untapped assets to comply with EU and US regulatory requirements. These requirements have increased in recent years, and "while firms still need to focus on efficiencies and optimization, they will also need to tap previously neglected or unrecognized pools of collateral," Capco partner James Arnett says. The Trade (UK) (20 Feb.)
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