August, 2009


25
Aug 09

A hedge fund perspective

Near Brompton Cross in South Kensington, Jeeves, a drycleaner, has a big sign in the window: “Bankers still Welcome. 7 shirts will be done for the price of 5, How’s that for a bonus?”

I thoroughly approve of a deal and of the open arms to much maligned bankers. I even approve of bonuses. However, on a global scale, nationalised banks that have the effrontery to pay enormous guaranteed bonuses are abusing public trust, while those that argue they have not taken government money are conveniently ignoring that the whole macro system has been transformed in order to bail them out.

Or why else do we have quantitative easing and the slashing of interest rates and enough moral hazard to drown in?!


18
Aug 09

There are more important things

Staying with friends in their Provençale heaven of La Verriere brought home to me the importance of balance and quality of life, and the question of whether small firms provide this better than large ones. The house party boasted two examples of this trend, in the shape of a married couple of French investment bankers.

Pascale Alvanitakis-Guely, the former head of hedge fund banking at Lehman Brothers, earlier this year set up Audentis Partners, a firm which primarily advises institutional investors on the secondary market for hedge funds. This has become all the more important for investors who are seeking to dispose of their locked-up hedge fund assets.


3
Aug 09

Facing a regulatory overdose

Morgan Stanley kindly hosted a London School of Economics Womens Alumni Network event a few weeks ago. I was the guest speaker, in charge of plugging the LSE Alumni Professional Mentoring Network, which I chair. Difficult to do so over the sound of Michael Jacksons showbiz funeral, broadcast over the AV system. It could not be turned off despite repeated requests.


Rumour has it that French Economy and Finance Minister Christine Lagarde will be the new Internal Market and Services Commissioner on the back of a deal that saw President Nicolas Sarkozy, currently suffering from wife-induced exercise-exhaustion, drop his objections to Jose Manuel Barrosos second term as Commission President.