Word: managerized
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Pension managers have come to see hedge funds as their salvation in a deadly period for stocks and bonds. Stocks have lost money over the past five years, and with interest rates rising, bonds are seen as a poor bet. "Pension managers simply cannot afford this kind of setback," says...
So pension managers are feeling the heat and turning to so-called alternative investments, like hedge funds, in search of better returns. Most hedge funds try to exploit temporary price discrepancies between, say, a barrel of oil and stocks of oil producers, making money as prices fall back in synch...
The pressure to perform--and keep the cash rolling in--might also induce hedge funds to take the more insidious risk of adding heaps of debt--as happened with Long-Term Capital. "You worry about one manager blowing up and having it ripple through the industry," says Mark Anson, chief...
That both men were in a celebratory mood might reflect the fact that each camp came away convinced it had snookered the other. Their 32-page "memorandum of understanding," which may still be revisited because of objections by the commission that sponsors the debates, stipulated everything from equivalent-size dressing...
ACQUITTED. GLORIA TREVI, 36, irreverent pop-music superstar nicknamed "Mexico's Madonna"; on charges of kidnapping, rape and corruption of minors; after spending nearly five years in prison; in Chihuahua, Mexico. Prosecutors alleged that Trevi, her former manager and two backup singers had lured young girls into their entourage and...