Risk transparency without position transparency
OPEN PLATFORM: HEDGE FUND REPORTING
When high-profile blow-ups hit the headlines, calls for greater transparency come to the fore. By Peter Davies (right), vice-chairman, RiskMetrics Group
Everyone hears about it when a hedge fund fails spectacularly. A recent report in the Wall Street Journal told of one such ill-fated fund whose manager’s penchant for betting shareholder money on professional poker, horses and the most exotic derivatives transactions possible led to a loss of 98% of the fund’s holdings in just two weeks. This is
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