June 2016

By Daniel P. Collins
The long awaited initial public offering for the BATS stock was price at $19 on April 14. BATS stock opened 20% above its IPO price and settled at $23 on its first day of trading.
By Daniel P. Collins
The long awaited initial public offering for the BATS stock was price at $19 on April 14. BATS stock opened 20% above its IPO price and settled at $23 on its first day of trading.
By William Ziemba
Every year interest in horse racing spikes as we near the first Saturday in May and the Kentucky Derby.
By Ryan Croke
What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen Curry have in common? They are all Black Swans.
By Daniel P. Collins
Modern Trader provides cutting-edge actionable market research while holding analysts accountable. And, when we publish specific recommendations, we will also let you know how we did.
By Steven Lord
Despite a rising chorus of criticism about mediocre performance and high fees, the alternative investment industry in general, and hedge funds in particular, remain where Wall Street’s best and brightest money managers congregate.
By Steven Lord
We talk with Anthony Scaramucci on the issues impacting hedge funds.
By Steven Lord
FINalternatives rode along with an allocator for due diligence on a hedge fund that looked too good to be true. The result? An inside view of a detailed, time-consuming but essential process.
By Steven Lord

The popularity of liquid alternatives strategies blossomed in recent years, and with it, the number of investment vehicles claiming to be part of the asset class. But not all liquid alternatives are true hedge fund proxies, and misconceptions exist about strategy classification.

By Garrett Baldwin
Sen. Tammy Baldwin and Sen. Jeff Merkley have accused activist hedge fund Starboard Value of engaging in unrepentant “quarterly capitalism.” Now, they want to change the rules on 13d disclosures with a toothless new law called the Brokaw Act.
By Ron S. Geffner
Successfully launching and running a hedge fund is daunting. It requires multidisciplinary skills such as developing and maintaining a positive track record that outperforms its competitors and benchmarks, hiring a talented supporting cast and attracting capital.
By Amy Bensted
The highest number of new funds entering the hedge fund space occurred in 2012 when 1,364 new vehicles came into the market following the introduction of the Volcker Rule, which led to a number of proprietary trading desk spin-offs from investment banks.
By Daniel P. Collins

What is the best investment that you have ever made? SkyBridge. I twice left safe, lucrative careers at prestigious financial institutions to start my own businesses, 
and betting on myself has paid off many times over.

By Daniel P. Collins
Since I first began writing about hedge funds more than 15 years ago there has always been a conflict within the space.
By Neil Azous
Commodities have had a tough go of it for several years, and while things may be turning...
By Bluford Putnam and Erik Norland
There are many factors contributing to how natural gas prices might move as El Niño fades, and not all are weather related.
By John Rawlins
Cycle Projection Oscillator: Rocket science meets markets
By Ashraf Laidi
Commodity currencies made a sharp recovery in Q1 with the help of the stabilization in metals and energy prices, as well as an increasingly dovish Federal Reserve.
By Ronnie Moas

Eagle Materials (EXP) was founded in 1963 as a building materials subsidiary of Centex Corporation. In 2004, Centex completed a tax-free distribution of its shares in EXP to its shareholders. 

By Joseph Parnes
After a two-year bear market in commodities, some analysts may be looking to the sector to find value.
By Dan Keegan
How best to play crude oil volatility? A vertical call spread — with wings.
By Matt Litchfield
Fed Chair Janet Yellen and the rest of the Federal Open Markets Committee (FOMC) are walking a fine line right now between being overly accommodative and choking off the recovery, but even we were surprised at the ultra-dovish tone she adopted during a March 29 speech that helped to further weaken the dollar.
By Daniel P. Collins
Alternative Trading System IEX burst on the scene after Michael Lewis’ 2013 bestselling book “Flash Boys: A Wall Street Revolt” turned its founder, Brad Katsuyama, into the fair-haired protagonist fighting the evils of Wall Street.
By Uri Gruenbaum
TipRanks tracks and measures financial experts based upon the success of their recommendations.
By Rocco Pellegrinelli
Commodities have been on a steady downward trend for the last 18 months. However, in March, many have rallied along with global equity markets.
By Christine Short

It’s no secret that energy and materials companies largely struggled throughout 2015. In fact, they were the worst performing sectors of the year. Weak fundamentals were driven by slowing demand, especially out of China, and oversupply as U.S. domestic crude oil production has nearly doubled during the last several years.

By Howard L. Simons
Canola, a genetically modified form of rapeseed, has some interesting qualities with respect to other oilseeds—for those who trade it and those who watch it for clues to other markets.
By Bramesh Bhandari
Rate-of-change measures the percent change in price from one period to the next. We’ll examine the traditional signals of this oscillator and how they might set up profitable trades.
By Billy Williams
Short setups are fast-moving, explosive and dangerous for the inexperienced, but their potential is often too strong a temptation to ignore. Here’s a technique that anyone can apply.
By Robert Burgess
Beginning with the credit crisis of 2008, financial markets have been in a different world. The key to understanding market action is knowing the economic cycle.
By Andy Waldock
A look at long-term trends of commercial interest in the CFTC’s “Commitments of Traders” report
By Garrett Baldwin
Hedge funds and alternative investments netted the New Jersey public employees’ state pension system a five-year annual return of 9.2%, beating the 7.9% return that was initially projected.
By Joe Cornell
On Feb. 24, 2016, Fiesta Restaurant Group (FRGI) announced a tax-free spin-off of Taco Cabana into a new publicly traded stock.
By Paul D. Cretien
Economic turmoil has had a significant effect on currency volatility discrepancies, which in turn has affected the currency options markets.
By Garrett Baldwin
The appeal of private aviation is similar to private investments — just swap “exceptional experience” for “exceptional returns.”
By Hillary Choo
Distilled spirits have been showing steady growth, particularly in the past six years, and according to the Distilled Spirits Council, supplier sales for spirits increased 4.1% in 2015.
By Staff Writer
Hedge fund managers live in a “bigger is better“ reality. A bigger asset base plus bigger returns means bigger fees. All good.
By Brian Twomey
A fallout from the 2008-09 financial crisis has been central banks seeking negative interest rate policies. Opportunity is often found at turning points. How, and how soon, can we expect this bias to reverse?
By Daniel P. Collins
David Hathaway is a systematic trader. Jon Farrin is a discretionary trader and expert in financial markets. The two have worked together for years and recently discovered that combining their styles creates a program much greater than the sum of its parts.
By Alan Rohrbach
June is the last month of the second quarter, and the first month after the classical adage, “Sell in May and go away.”
By Steven K. Beckner
Nearly as important as monetary policy, is policy communication, and the Fed’s messaging is not getting any easier to interpret.