Sun, May 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Big Picture: Francesco Filia: Japan is a catalyst for other economies

Monday, June 17, 2013

amb
Francesco Filia
An Opalesque column for global macro investors.

Benedicte Gravrand, Opalesque Geneva:

According to Fasanara Capital’s investment outlook, published on 31st May, there is more high volatility ahead.

The fund’s Value book remains flat as markets are toppy (i.e. markets are reaching highs that are unstable, and therefore a decline can be expected).

"We will change that stance only once the disconnect between the real world and financial markets tighten from here, as a consequence of market correcting or fundamentals improving," the report states. Furthermore, current credit and equity bubble levels are reminiscent of 2007 and other events.

On the other hand, Fasanara sees most of the opportunities in their Hedging book, thanks to the market mispricing the potential for realized volatility and for toppy markets to be 'gapping markets’ (e.g. gold’s heart attack, Nikkei flash crash…) The book is long volatility.

Two premises that Fasanara is relying upon in the outlook is (1) the expectation of a bubble chain and a deleverage chain; and (2) Japan and China being catalysts as their dynamics may have important repercussions for global markets in the months ahead.

Bubbles

Francesco Filia told Opalesque last week he is expecting a steep correction, as there is a huge disconnect between fundamentals and the levels at which the equity markets are trading. He believe......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit

  2. Investing - Billionaire Wilbur Ross likes the look of Chinese bad loans, Hedge funds are still relevant in a diversified portfolio: 4 fundamental criteria for superior manager selection[more]

    Billionaire Wilbur Ross likes the look of Chinese bad loans From Bloomberg.com: U.S. billionaire Wilbur Ross said he’s considering investing in nonperforming loans in China, as Moody’s Investors Service said that the nation has the tools to prevent a financial crisis in the near term. I’

  3. Investing - Blackstone gives pricey Canadian energy and property thumbs down, One of the most concentrated hedge fund bets is getting crushed, Facebook is hedge funds' new tech darling,[more]

    Blackstone gives pricey Canadian energy and property thumbs down From Bloomberg.com: Canada’s energy assets are uneconomic and real-estate markets overvalued, making them less attractive for investment than in the U.S. and elsewhere, according to Tony James, president of Blackstone Group

  4. Study - Only 30% of institutional hedge fund portfolios beat the benchmark[more]

    Bailey McCann, Opalesque New York: A new study from CEM Benchmarking, an independent provider of cost and performance analysis for pension funds, shows that only 30 percent of institutional investors hedge fund portfolios beat the benchmark after fees. The study provides in depth analysis of real

  5. Opalesque Exclusive: $1bn hedge fund club grows to 668 managers, continues to dominate (Part One)[more]

    Komfie Manalo, Opalesque Asia: Despite an underwhelming 2015 and a slow start to 2016 in terms of performance, one group of managers that continues to dominate the assets of the hedge fund industry is the so called $1bn club – hedge fund managers with at least $1bn in assets under management (AU