Today's Exclusives

• Greenwich Global Hedge Fund Index up +0.40% in May (+3.28% YTD) [more]

  Komfie Manalo, Opalesque Asia: Hedge funds reported a composite return of +0.40% in May, further extending their win streak. Performance was somewhat subdued across most strategies as managers navigated choppy markets in equities and energy. US Equities recovered quickly from a mid-month sell

• Opalesque Roundup: Number of hedge fund now 9,733 as launches rose in Q1: hedge fund news, week 26 [more]

  In the week ending 23 June, 2017, the number of hedge fund launches in Q1 increased to 189 but was overshadowed by 259 liquidations with the total hedge fund count now at 9,733. In Singapore, Qualgro and Gordian Capital announced the spin out of the QUALGRO ASEAN FUND I, L.P. from the Gordia

• PSAM acquires stake in CdR Capital [more]

  Opalesque Industry Update - P. Schoenfeld Asset Management (PSAM), a leading global alternative asset manager, has purchased a minority stake in CdR Capital, a UK and Geneva headquartered private investment office. The stake allows PSAM, which employs a research based fundamental investment appr

• Nomura Asset Management expands AI effort [more]

  Opalesque Industry Update - Nomura Asset Management Co., Ltd. (NAM), one of Japan's leading investment managers, and Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, today announced that they have conducted a proof of concept (PoC) study to exami

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

• 21. Jun. | Opalesque Exclusive: Amazon/Whole Foods Deal bolsters Tourbillon's activist stake in SunOpta [more]

  Bailey McCann, Opalesque New York: At the end of May, activist hedge fund firm Tourbillon Capital Partners wanted organic-food company SunOpta Inc. to sell itself. The firm

• 19. Jun. | Opalesque Radio: Columbia Threadneedle on risks and opportunities in fixed income [more]

  Benedicte Gravrand, Opalesque Geneva: James Waters, head of the fixed income client portfolio management team at Columbia Threadneedle Investments, told Sona Blessing in a recent Opalesque Radio interview that an active

• 19. Jun. | Opalesque Roundup: Not all hedge funds reject the bitcoin rally: hedge fund news, week 25 [more]

  In the week ending 16 June, 2017, in FinTech, hedge funds are quietly investing in bitcoin which gained over 180% last year. Most hedge fund managers have not invested in bitcoin, but those who did were some of the best performers, beating the market. Jeffrey Tarrant is betting that a new

• 15. Jun. | Opalesque Exclusive: Fed raises rates again, releases plan to shrink balance sheet [more]

  Bailey McCann, Opalesque New York: As expected the US Federal Reserve raised its benchmark interest rate to a range of 1 percent to 1.25 percent. In addition to the rate rise, the Fed also released a plan to trim its $4.5 trillion balance sheet. The moves will raise borrowing costs for businesses

• 13. Jun. | Opalesque Exclusive: Structural woes keep emerging markets investors away from South Korea [more]

  Bailey McCann, Opalesque New York: As investors increasingly look abroad for new opportunities, South Korea may have a hard time attracting attention, according to a panel hosted yesterday in New York by the Emerging Markets Trade Association (EMTA). At first glance, South Korea offers mega tech

• 13. Jun. | Opalesque Exclusive: Neuberger Berman's event driven hedge fund to close initial founder's share class to new investors [more]

  Benedicte Gravrand, Opalesque Geneva: Joe Rotter's market neutral event driven hedge fund, run under Neuberger Berman's umbrella, will close its initial founder's share class to new investors on 1st August, after having garnered about $570m in AuM since its November 2016 launch. The f

• 12. Jun. | Opalesque Exclusive: South Africa's equity-centric hedge funds gain on favorable global conditions [more]

  Komfie Manalo, Opalesque Asia: Hedge funds serviced by Peregrine performed relatively well for the month of May, a third consecutive positive return in as many months and, given flat to weak markets, particularly pleasing. In its monthly r

• 12. Jun. | Opalesque Roundup: Proportion of European pensions allocating to hedge funds grew by 4.6% year on year [more]

  In the week ending 09 June 2017, consultant Mercer found that 4.6% more European pensions allocate to hedge funds now compared to one year ago. This is interestingly the largest gr

• 09. Jun. | Opalesque Exclusive: Hedge fund Barnegat posts five positive months to 12.5% net gains as carry bounces back [more]

  Komfie Manalo, Opalesque Asia: Bob Treue's hedge fund, The Barnegat Fund, was off to a good start this year gaining 1.5% in May, bringing year-to-date profits at 12.5%. Treue said that the fund's net, annual compound rate of return since launch in 2

• 06. Jun. | Hedge fund giant John Paulson losing investor's money [more]

  Komfie Manalo, Opalesque Asia: Hedge fund giant John Paulson, once the darling of the finance world for successfully predicting the collapse of the U.S. housing market and earning him $15bn, is now struggling to convince his investors to stay with him and trust his business instinct. A report

• 05. Jun. | Opalesque Exclusive: Brookfield's hedge fund for all seasons is banking on late distressed cycle [more]

  Benedicte Gravrand, Opalesque Geneva: Brookfield Credit Opportunities Fund (BCOF) is multi-strategy credit fund that invests long and short in distressed debt, credit and equity. But credit, especially the distressed part, w

• 05. Jun. | Opalesque Roundup: Hedge fund icons warn of market risks and keep dry powder: hedge fund news, week 23 [more]

  In the week ending 02 June, 2017, hedge fund icons Paul Singer and Seth Klarman warned about global financial risks. Singer, pointing to the last crisis of 2008, has put dry powde

• 02. Jun. | Hedge funds and innovations in Shari'ah compliant alternative investments [more]

  By Raj Mohamad, Founder, Five Pillars Pte Ltd, Singapore The Muslim world has produced numerous multi-disciplinary scholars and polymaths. Just one example would be Musa Al-Khwarizmi, the renowned astronomer,

• 01. Jun. | Opalesque Exclusive: Investors eye trend followers despite trend-free markets [more]

  Bailey McCann, Opalesque New York: It's been a rough year for trend followers. Calm markets haven't offered many trends. CTAs are down more than 4 percent for the year according to performance benchmark data and the medium term picture doesn't look much better. Still, investors are ma

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 – Weekly

Near Term Trend: Bullish / Neutral

Friday’s Close: 5,681.48 (- 19.41)

UPDATE: Last week, I suggested selling longs in the NASDAQ 100 and looking to re-enter the on a pullback to 5,410 – 5,415..

The NDX continued with recent weakness last week. Based on pattern, I’m raising level at which I’d start buying to 5,568.40.

I continue to recommend buying NASDAQ leaders on a pullback in the NDX – but on a pullback to 5,568.40. Stop out on daily close below 5,568 and look for 6,080 on the upside.