Blog

Month: June 2014

From Alpha to Beta: A Long/Short Story

In 1949, Alfred Winslow Jones created A.W. Jones & Co., a partnership which invested $100,000 in stocks using leverage and a mix of long and short positions. Instead of employing a standard management fee, Jones would only make money if his clients made money, charging 20 percent of all profits. This was first vehicle of […]

The Big Money

“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the […]

The Day Volatility Died

“And we sang dirges in the dark, the day volatility died.” – Hedge Funds, in unison “I actually find myself daydreaming about winning ‘Dancing With the Stars’ on some days in the office. It’s gotten to be very difficult, when you depend on price movement to make a living, and there is none.” – Paul […]

Our Webinar with the CFA Institute: http://www.cfainstitute.org/learning/products/multimedia/Pages/101959.aspx Summary Michael A. Gayed, CFA, and Charlie Bilello, CMT, of Pension Partners, LLC co-authored two award-winning papers in 2014 that challenge the efficient market hypothesis by revealing market anomalies that have persisted over time. In separate papers, they focus on the utilities sector and Treasury bonds, providing a systematic way […]

Our Webinar with the Market Technicians Association: http://media.mta.org/videos/2014/educational-web-series/bilello-gayed/bilello-gayed.html An Intermarket Approach to Beta Rotation: The Strategy, Signal and Power of Utilities (Video) A webcast presentation by Charles Bilello, CMT & Michael Gayed, CFA originally held on June 4th, 2014 as part of the MTA’s Educational Web Series.  In this Educational Web Series webcast, the MTA […]