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Editor's Note
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Knight Frank lists Miami as one of the top ten global cities where the wealthiest 0.1% of the world live or want to live. In 2014, resale prices for downtown condos have increased by 20% and rents are up 10%. Art Basel, one of the biggest art exhibits in the world, didn’t choose New York or L.A. They chose Miami. Dubbed the “spring break for the rich”, more private airplanes are in Miami than anywhere else during that time.
But, maybe even more important, Miami is also listed as one of the top-15 cities in the world where young people want to live and work. That has the power to be a game-changer over the long-term. Already now, employers rave about the diversity of talent by way of background available in the city. The University of Miami has 6,000 computer science students and is constantly in the top-50 rankings, while 55,000 students attend the Florida International University, which also offers a Masters in Finance Program.
Miami was always a banking center. Starting out as a regional banking center, Miami grew over time to being the capital of the Caribbean, if not Latin America, and certainly, the preeminent financial center for deposit collection. Along with that, the private banking community also grew immensely and created a tremendous amount of wealth. There are still huge amounts of capital migrating to Miami. Investors are forming single and multi family offices, and a number of large hedge funds have recently migrated to Florida.
Miami is also a major legal center for Latin America, and healthcare is another very important aspect of the local economy. Of course, there is the weather and the out door lifestyle, that allows you to be outside throughout most parts of the year. And then there is Miami real estate. “When you want to know what’s going on in the world, you don’t need to watch CNN. You can just look at the Miami real estate market where you can watch live what happens in a lot of foreign countries”, says Nitin Motwani. Until recently, the Russians were buying very aggressively and actively for a long period of time; that stopped when the U.S. placed them in the penalty box. Then, the New Yorkers came in because hedge funds did well for a couple of years. The highest price was $6,000 a square foot for one of the penthouses. The beat is on in Miami!
The following experts participated at the Opalesque 2015 Miami Roundtable:
- Julie Neitzel, Partner, WE Family Offices
- Andrew H. Jacobus, President and CEO, FINSER Asset Management
- Nitin Motwani, Managing Principal, Miami World Center and Managing Director, Encore Housing Opportunity Fund
- Tom Krasner, Principal and Co-Founder, Concise Capital
- Greg de Spoelberch, Opalesque (Moderator)
The group also discussed:
- Why more and more (also overseas) firms opt to set up a full blown operational unit in Miami rather than a small satellite office
- Others come because they see Miami as a great place to raise a family
- Which are the top countries feeding people, talent and money into Miami?
- Investment opportunities: Short maturity high-yield debt, U.S. equities, REITS, emerging markets
- How local hedge funds grow by marketing to the investor base and family offices
- More about Miami’s tech and venture capital initiatives
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15. FERI Hedge Funds Day Bad Homburg Sept. 17
Since 1987, FERI has been synonymous with independent investment expertise and is now one of the leading multi-asset specialists in the German-speaking world. We combine our outstanding expertise in traditional and alternative investments with experience, innovation, and sustainability. More than 280 employees at eight locations in four countries work every day to safeguard and sustainably grow our clients' assets.
Experience a day (on site or join online) in the world of hedge funds! In addition to interesting insights into the strategies of international hedge fund managers, you can look forward to an exciting panel discussion on the topic "Long/Short Equities - Hedge Funds Made in Germany."
More information, registration: events@feri.de
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Legends4Legends Conference - Amsterdam, Oct. 1
Join Theta Capital for the 10th edition of Legends4Legends on October 1 in Amsterdam - an exclusive gathering of around 350 institutional investors, family offices and UHNWIs exploring the institutional adoption of blockchain and digital assets.
This year's theme:
"From Speculation to Institutional Adoption: How Blockchain is Rewiring the Global Financial System"
The conference focuses on where traditional finance and crypto are converging, the major real-world use cases emerging today, and how increasingly important infrastructure for the AI economy is being built on-chain.
Legends4Legends is deliberately different from typical industry conferences: no retail, no sales pitches and no noise. Every attendee, including Theta's own team, is asked to leave the pitch at home, creating an environment where managers and allocators can speak candidly.
The speaker lineup includes:
- Mark Cutis - Managing Director, Office of CEO, Abu Dhabi Investment Council
- Joe Marenda - Head of Hedge Fund Research & Digital Assets, Cambridge Associates
- Chris Perkins - Head of Crypto, Franklin Templeton
- Patrick J. Witt - Executive Director, President's Council of Advisors for Digital Assets at the White House
- Robert Leshner - Founder, Compound & Superstate; GP, Robot Ventures
- Haseeb Qureshi - GP, Dragonfly
- Tarun Chitra - Founder, Gauntlet; GP, Robot Ventures
- Matt Walsh - GP, Castle Island Ventures
- David Pakman - GP, CoinFund
- Min Teo - GP, Ethereal
- Lasse Clausen - GP, 1kx
- Scott Lawin - President, Pantera Capital
- Tyler Spalding - Co-founder, Flexa; Founder, Anvil Protocol
A limited number of invitations are available through Opalesque, particularly for institutional allocators who are curious about blockchain and digital assets but haven't yet found a credible way into the space.
If you are interested in attending, or know an institutional allocator who would benefit from joining, please register here:
https://luma.com/legends4legends?coupon=OP-26
Attendance is limited to 350 allocators and all registrations are subject to approval by Theta Capital.
As always, Legends4Legends supports Alternatives4Children, with every seat filled contributing directly to children's education.
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Battle of the Quants: London, Oct. 22nd, Royal Automobile Club
Designed for quantitative managers, institutional investors, allocators, and data experts, the Battle of the Quants - London provides a unique forum to exchange ideas, challenge conventional thinking, and build relationships with the people driving the evolution of quantitative trading.
Join me for the 21st "Battle" in London, the Quantitative Allocators Roundtable and Data Roundtables are highly regarded. For details: www.battleofthequants.com
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Free allocator registration: Apex Invest Europe, Zurich, 27-28 October
I've attended Apex Invest events twice. They are among the conferences where I would tell an allocator: clear the two days.
Apex Invest Europe keeps the manager count at 50 and the allocator-to-manager ratio at 2:1, so LPs are the majority in the room. But the programming is what brings me back - the keynotes and panels are genuinely excellent, and the allocators I talk to say the same.
Opalesque has free allocator registration: https://bit.ly/45ZOk7X
The Dolder Grand does not hurt either ;-). Please reach out if you have any questions.
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Family Office Forum ZURICH Nov. 10-11, Dolder Grand
Join Opalesque founder Matthias Knab at the 13th Prestel & Partner Family Office Forum in Zurich along with 100+ Family Offices!
This is YOUR opportunity to:
- Meet private investor peers in person
- Be part of a trusted community in a "safe place"
- Share experiences and views
- Access information across Family Governance & Investment best practice topics.
Investors attend for free, if you are interested in joining, let me know (email knab@opalesque.com and I'll make an introduction to the organizers.
I can also facilitate discounted tickets for investment managers / service providers given my 10+ year relationship with the organizers, please reach out as well.
See here for agenda and more information: https://prestelandpartner.com/familyofficeforumzurich.html
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| AlternativeSoft's Laurent Favre on the Future of Fundraising: AI, Avatars, and a Click to Invest |
“In five years, all will be done with AI.”Raising capital is one of the biggest challenges for hedge fund managers, while discovering and analyzing promising small to mid-sized funds is a time-consuming task for allocators.AlternativeSoft, a platform trusted by 150 institutional clients ...
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Interested in featuring your firm here? Contact us
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| Technical Research Briefing |
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S&P FUTURES (@ES) – Daily
Currently: Long Looking to: Sell @ 4,118.75
As of 3/21/21 @ 7:58pm EST: 3,896
LAST WEEK: We suggested buying dips to 3,875 with stops on a close below 3,840 and with a target for selling longs / getting short at 4,118.75.
UPDATE: S&P futures had a terrible day Thursday and limped into the weekend. Right now, we put possible short-term ceilings at 3,918 or 3,950. If 3,918 holds as short-term resistance, we will look for a dip in the ES futures to 3,818 – 3,820. If 3,950 is tested and holds as resistance instead, we will look for a dip to 3,848 – 3,850 to follow. After this bounce and subsequent dip, we will be buying S&P futures aggressively (unless evidence presents itself that forces us to change our opinion) near one of those support levels.
We would look to buy dips to either 3,849 or 3,818.50 with stops honored on a close below 3,847 and 3,815, respectively. The upside target for either entry will be 4,119. NO SHORTING RIGHT NOW!
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