Today's Exclusives

• Opalesque Exclusive: National foundation study shows improved 2016 investment returns [more]

  Bailey McCann, Opalesque New York: Data from the recently released 2016 Council on Foundations-Commonfund Study of Investment of Endowments for Private and Community Foundations (CCSF) show that foundations returns have improved slightly. According to the report, private foundations reported an a

• Barclay CTA Index falls 0.98% in June, BTOP50 Index declines as well [more]

  Opalesque Industry Update - Managed futures traders lost 0.98% in June according to the Barclay CTA Index compiled by BarclayHedge. This was the largest monthly decline so far this year as the Index is down 1.65% through the first two quarters of 2017. The BTOP50 Index, which tracks the 50 large

• Investors increased allocations to hedge funds in 2Q as HFRI Composite Index posted eighth consecutive monthly gain [more]

  Opalesque Industry Update - Hedge fund industry capital increased to a fourth consecutive quarterly record in 2Q17, as investor allocations outweighed redemptions for the first time since 3Q15. Total hedge fund capital rose to $3.1 trillion, a quarterly increase of $34.1 billion, driven by ne

• EFAMA and AMIC publish joint report on the use of leverage in investment funds in Europe [more]

  Opalesque Industry Update - The European Fund and Asset Management Association (EFAMA) and the International Capital Market Association's (ICMA) Asset Management and Investors Council (AMIC) published on 19 July a joint paper analysing how and why leverage is used in investment funds in Europe,

Today's Other Voices

• Other Voices: Are your pricing policies and procedures for less liquid instruments adequate? [more]

  Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

More Exclusives

• 17. Jul. | Opalesque Exclusive: Come to Bermuda's premier hedge fund event in October [more]

  Benedicte Gravrand, Opalesque Geneva: Just as the wind starts blowing auburn leaves along the streets of New York and London and people start revisiting their winter coats, some hedge funders might like to find solace in Bermuda, where they could have dinner on the beach and go on a mini-cruise.

• 17. Jul. | Opalesque Roundup: Majority of hedge fund investors to "significantly or moderately" shift money to quant funds: hedge fund news, week 29 [more]

  In the week ending 14 July, 2017, in FinTech, a report by Jefferies pointed to a chart from Google Trends as a visualisation how interest in "data science"

• 14. Jul. | Opalesque Exclusive: Green Alpha Advisors goes long on the 'next economy' [more]

  Bailey McCann, Opalesque New York: Garvin Jabusch co-founder and CIO of Denver-based Green Alpha Advisors bristles at being lumped in with other sustainability and ESG funds. When we met, he was in New York to speak at a sustainable investing conference about what he calls the "next economy" and

• 11. Jul. | CTA survey results on investment methodology, fees and traded markets [more]

  Matthias Knab, Opalesque: London based J8 Capital Management conducted a global survey to fund out how CTAs work and generate returns. The survey was supported by Opalesque. The 2017 CTA survey by far and large confirmed the findings of the 2014 and 2015 CTA survey (total of 110 respons

• 10. Jul. | Opalesque Roundup: One third of surveyed hedge funds break even with $50m or less assets: hedge fund news, week 28 [more]

  In the week ending 07 July, 2017, a study by AIMA has found that most alternative investment management firms are able to turn a profit and expand with considerably less th

• 07. Jul. | Paper says 'abnormal' hedge funds trades based on prime broker information flow offer 4% superior performance [more]

  Matthias Knab, Opalesque: The popular press often accuses hedge funds of trading on information not available to other market participants. In this paper, the authors Nitish Kumar, Kevin Mullally, Sugata Ray and Yuehua Tangwe provide evidence that one source of that information is a fund's prime

• 07. Jul. | Opalesque Exclusive: 361 Capital takes the lead with marketing automation [more]

  Bailey McCann, Opalesque New York: When Denver, Colorado-based 361 Capital reorganized under new leadership in 2010, the boutique investment management firm made a significant decision to embed technology in all parts of their business. The management team knew then that the barriers to entry in

• 06. Jul. | Opalesque Exclusive: Turmoil in Quant Land: A hedge fund's candid view why strategies that were once working regularly mysteriously stopped working [more]

  Matthias Knab, Opalesque: Neal Berger is is President of Eagle's View Asset Management and an investor and allocator I've known and respected for many years. His most recent extended market commentary, which is in parts included below, is a highly recommended read and a candid analysis wh

• 05. Jul. | Opalesque TV: Quant develops effective market timing strategy [more]

  Benedicte Gravrand, Opalesque Geneva for New Managers: A quant trader based in Bodrum, Turkey, has been developing a market timing strategy for the last six years and has found a way to make it an effective one. As

• 03. Jul. | Opalesque Exclusive: ASM Capital Management takes the lead on Mosaic restructuring [more]

  Bailey McCann, Opalesque New York: New York-based ASM Capital Management has emerged as the leading firm in the plan to restructure life settlements investing firm Mosaic Management Group. Mosaic Management, was a firm that invested in life insurance settlements. ASM Capital provided a $5 million

• 03. Jul. | Opalesque Exclusive: Data comes before strategy for this new big data hedge fund [more]

  Benedicte Gravrand, Opalesque Geneva for New Managers: New York-based Trinnacle Capital Management, LLC (TCM) is a new data-driven hedge fund. The co-founders develop proprietary algorithms that leverage big data to

• 03. Jul. | Opalesque Roundup: Investors shift assets as quants start dominating hedge funds: hedge fund news, week 27 [more]

  In the week ending 30 June 2017, in FinTech, the 2017 Hedge Fund 100, Institutional Investor's Alpha's 16th-annual ranking of the world's 100-largest hedge funds by assets is dominated by quants. Quantitative hedge funds all saw their assets grew last year, dominating the sector.

• 30. Jun. | Opalesque Exclusive: BDO: 2017 could be a comeback year for IPOs [more]

  Bailey McCann, Opalesque New York: IPO activity has slowed down recently as companies opt to stay private longer or pursue M&A as an exit route. However, a new survey of GPs recently released by BDO suggests that IPOs may start to come back as we move into the second half of the year. BDO's Eight

• 28. Jun. | Opalesque Exclusive: ClearShares launches first OCIO ETF [more]

  Bailey McCann, Opalesque New York: ClearShares, a subsidiary of Clearbrook Global Advisors, has launched an OCIO ETF that replicates the Outsourced CIO strategy available to qualified investors on Clearbrook's OCIO platform. ClearShares OCIO ETF ($OCIO) is an ETF of ETFs, offering access to

More Other Voices

• 21. Jun. 2017 | Other Voices: What is the Capital Inflow From China A-share Index Inclusion? [more]

  By Qi Wang, CFA, CEO at MegaTrust Investment (HK): As expected, MSCI today announced the inclusion of China A-shares in its Emerging Markets Index for the firs

• 24. May. 2017 | Other Voices: The insidious threat of data mining bias [more]

  Guest article from Kris Longmore, Founder and Head of Quantitative Research at Quantify:In the context of systematic trading research, data mining bias refers to the risk of attributing significance to a result that was in fact due to chance. I refer to it as an "insidious threat" becau

• 17. May. 2017 | Other Voices: How to Evaluate a Machine Learning Based Trading System? [more]

  Meta Alpha, LLC - Submitted to Opalesque as Guest Article - Confidential and Proprietary 1. Is it really machine learning, i.e. does it really learn? Many systems depend on traditional statistical techniques such as GARCH and other techniques but are not really machine learning. In othe

• 12. May. 2017 | Other Voices: Aon Hewitt retirement and investment blog: Hedge fund indices as benchmarks [more]

  Executive Summary Where clients are looking to benchmark hedge fund investments against a relevant market, or peer average, we recommend that clients use HFRI Fund Weighted Indices as opposed to indices from other providers or the newer Asset Weighted indices from HFRI. In some situatio

• 26. Apr. 2017 | Other Voices: "Winner-take-all" dynamics and hedge fund investing [more]

  A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant

• 04. Apr. 2017 | Other Voices: Hedge funds manage risk: Opposing view [more]

  By: Richard H. Baker Even in times of pressure, research shows that investors particularly institutional investors such as pensions, foundations and endowments continue to use hedge funds as tools to help meet their unique financial and risk management needs. This is especially true in the

• 08. Feb. 2017 | Other Voices: Institutionalisation has secured the future of hedge funds, but industry must further evolve [more]

  From Christen Thomson, Citigate Dewe Rogerson: Reading some of the mainstream financial press, you would be forgiven for thinking that the hedge fund business model is dead. One august news organisation headlined one particularly gloomy story, "The Golden Era of Hedge Funds Draws to a Close With

• 06. Feb. 2017 | Other Voices: Best investors are good storytellers while great investments are good stories [more]

  By Alex Gavrish, Etalon Investment Research . Alex Gavrish explains why best investments are just like good stories or movies: with three-part structure, important turning points, intrigue, drama, and surprises. Over past few year

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NASDAQ 100 Index – Daily

Near Term Trend: Bullish

Friday’s Close: 5,838.08 (+ 0.77%)

UPDATE: Last week, I suggested buying if NDX tests 5,538.75 with an upside target of 6,080 and stops below 5538.

The NDX spent all of last week in rally mode. The upside momentum took prices high enough to declare the downside correction over. Upside targets start at 6,100.

Buy any dips in the NDX down to 5,710 with stops on any daily close below 5,678 and with an upside target of 6,100.