All About Alpha

The Chartered Alternative Investment Analyst (CAIA) Association, a non-profit organization founded in 2002, is the world leader in alternative investment education. The CAIA Association is best known for the CAIA Charter. Earning the CAIA Charter is the gateway to becoming a member of the CAIA Association, a network of 6,900 AI leaders located in 80+ countries. CAIA is considered a leading authority on industry trends and developments worldwide.

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Prepping for an Emerging Market Rebound

Two executives at the Neuberger Berman Group have prepared a paper on what they call the “overall case for a recovery in emerging market debts” in the months to come. Investors will want to “be around” for such a rebound, they say. There are ...

D’oh!

Much has been written this week about the fall of the house of Lehman. Too big to fail became “someone has to” and the rest is history. The demise of Lehman has been one of the many sign posts that defined the GFC and now, ten years on, traditio...

Are ICOs Encoding Their Governance Promises?

Scholars affiliated with the University of Pennsylvania recently produced a paper about digital currencies and initial coin offerings, “Coin Operated Capitalism.” The gist of the paper is that the purchase of such tokens may be riskier than inve...

Oil Trading and Round Number Effects

The “round number effect” is an endless source of fascination in the worlds of both trading and statistics. Human brains, after all, tend to think in round numbers. A market pundit on television may say, “If the price of stock XYZ gets below $8...

The Connection between Audit Fees and Derivative Hedging

It is generally acknowledged that there exists a positive association between business risk and audit fees. There is room for dispute as to what that means. On the one hand, the riskier clients for whom an audit firm works might simply be the ones th...