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Alternative Market Briefing

Alexander Ineichen’s Regulomics research shows little to cheer alternative investors

Friday, June 24, 2011

By Beverly Chandler, Opalesque London:

A recent piece of research from Alexander Ineichen’s eponymous Ineichen Research & Management research boutique claims that we are in a phase of Regulomics. This he defines as the opposite to Reaganomics, which, he claims, was better for investors. While Reaganomics, which stood for lower taxes, less regulation, less government spending and controlled money supply, suited investors, Ineichen’s Regulomics, the spiritual opposite, is what investors have to deal with today.

Regulomics essentially means more government spending, higher taxes, uncontrolled money supply, and more regulation. Ineichen says: "We don’t know how this will end. However, we do know this. When big government intervenes and the market cannot function properly, small inefficiencies typically turn into big problems."

Examples of 'small inefficiences’ that turn into big problems for Ineichen, include the Euro and Ucits products. "The UCITS phenomena, covered in our April 2010 report, is another intervention. It is albeit an intervention that is welcomed by parts of the market. After the experience of 2008 many investors were not asking about the return on their investments but about the return of their investments. UCITS caters to this demand. A regulated product gives certain investors a sense of security. It is also better from a career risk perspective. Losing mon......................

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