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1、对冲基金的宏观视野（The macro view of hedge funds）Macro themes of top hedge funds http:/, 16:01 November 19, 2010, national finance weekIn the future leading investment trend of global macro investment strategy theme, problem of ten global macro strategies of the worlds top hedge fund managers are concerned,
2、also let China policymakers and investors feel confused.Wen / Wei LaiIts about an hours drive from New York, or a train, to Connecticut. Here, along the Long Island Straits, there are several quiet and beautiful towns, Greenwich, too. In the coastal town of 30 miles from New York, more than 500 hedg
3、e funds have gathered around the world, and the worlds most prestigious hedge fund companies have offices almost everywhere.Since the days of the birth of Wall Street, financial heavyweights and industrial giants have begun building houses in greenwich. Later, it became the stronghold of hedge funds
4、. Well regulated hedge funds are well rewarded, making their wealthy investment clients worth a lot of money and their managers turning into billionaires. According to statistics, there are 35 hedge funds at the headquarters base only 62 thousand inhabitants of the town, the management of assets of
5、more than $200 billion, more than a year in countries such as Chile or Malaysias gdp.In mid October 2010, Connecticut is in late autumn. Several private yachts were lazily floating on the Gulf of Long Island. X, the worlds hedge fund godfather, is driving a sports car from New York to Greenwich, wit
6、h the author taking a spin and talking about his 17 years work here.Close to the mouth of the sea, there is a 8 story office building. Mr. X told the writer that the worlds largest hedge fund company, which he shared with other partners, was working here and rented a floor. Over the past decade, it
7、was still the same here, and now hedge fund traders and analysts are still enjoying the intense work of leisure and the view of the sea and the scenery far away. Of course, the rents here are still expensive.The expensive here is what they paid for with a heavy price. X said, in 1998, we ate Russias
8、 default freeze. All-powerful in the global capital market hedge fund, in the Russian debt market almost instantly turned into clouds. Mr. X and his partner have suffered heavy losses.At that time, Russia was in dire straits. Russias maturing debt of $24 billion, but only 17 billion dollars in forei
9、gn exchange reserves. In this context, the Russian government announced a substantial devaluation of the ruble, extending the maturity of the debt, suspension of debt transactions and other measures. A message, world outcry. Russian stock, currency collapse, or Yixieqianli, then simply closed. Since
10、 then, the Russian debt market is no longer interested, until 2010 before returning to the debt market.It is also at that time, the famous hedge fund long term capital management company LTCM had hired two Nobel Laureates in economics and a large number of full of wit programmer, arbitrage model des
11、ign for the company to elaborate, trying to capture small profit opportunities in the Russian government bond trading. No one expected, however, that Russian government bonds would suddenly default. As a result, this group of great scientists lose everything, including Mr. X, the international inves
12、tment losses.Mr. X said, we made a careful check, have a deep understanding of risk, however, we always insist on doing legitimate investment, no legal risk in the tightrope , even if the investment losses, our ability to have the opportunity to come back. Our partners, for example, all came back af
13、ter a few years, and some of their employees were scattered around the big hedge fund companies in greenwich.Private life of the godfather of hedge fundsIn Greenwich Town, the work of hedge fund managers is very low-key. But their rapid accumulation of wealth has made private life a luxury.Tudor Hou
14、se (Tudor) and other well-known hedge fund partners occupy a large area of land, stands in a dense forest, like a castle in general. A fairly common two story house here can cost as much as millions of dollars, while in the Midwest, the same house is only $100 thousand. Ordinary apartments here are
15、expensive, too.The 2008 financial crisis has made life here less productive. By the end of the year, in an interview with reporters here Reuters described a scene, light luxury car dealer business, house prices decline, the local wealthy residents service retail business is greatly reduced, everythi
16、ng is on the decline. Begin to see signs of summer, but October has A great calamity is at hand.And two years later today, this is no longer the scene of the year. Greenwich Town Luxury shop or arranged in good order to her newly opened stores, Apple also bustling.From Greenwich to northern Standford, the business climate here is stronger and the land price is cheaper, so many financial in
