Institutional Investor's Alpha Magazine - March 2008 - (Page 1) March 2008 Institutional Investor’s Alpha Contents www.alphamagazine.com 22 COVER STORY The New Math Smarting from last summer’s huge losses, quantitative hedge funds are pressing into new realms of science in an effort to prosper during the ongoing credit crisis. By Nick Rockel 3 5 CHAD BATKA LETTER FROM THE EDITOR LONGS & SHORTS Big Sky Blues; Investors at the Gate; Gray Lady Down; and more. 18 Academic pursuit: Andrew Lo knows what hedge funds did last summer PENSION CORNER Scaling Back Oberlin is reducing its allocation to hedge funds. By Katie Gilbert 22 20 THE GOOD GUYS The Dog Will See You Now A foundation that sponsors animal therapy for patients finds that demand outstrips supply. By Danielle Beurteaux 30 PROFILE Regrowing Ivy Sean Simon and Michael Singer are trying to reignite growth at one of the U.S.’s oldest fund-of-hedge-funds firms. By Michael Peltz 36 BRAD YEO INTERVIEW Cambridge Is Watching David Shukis of Cambridge Associates. By Frances Denmark 40 Crisis management: Three ways to help avoid another liquidity meltdown 40 IN FOCUS The Alarm Isn’t False The credit crisis has some experts suggesting a three-pronged approach to reforming the hedge fund industry. By Dave Simons 46 BILL CRAMER/WONDERFUL MACHINE STRATEGIES Riding the Curve Fixed-income arbitrage is on the rise, thanks in part to the higher volatility that accompanies a steep yield curve. By Neil O’Hara 50 57 All smiles: This fund-of-funds executive is upbeat on fixed-income arbitrage RESEARCH CENTER Top European Analysts Our annual ranking of the best equity analysts. By Rosalyn Retkwa ALPHA BYTES Great Expectations Hedge funds are turning to outsourcing. By Eugene Grygo 46 60 UNHEDGED: COMMENTARY Why Johnny Doesn’t Short By Basil Williams Cover photo by Ethan Hill for Alpha http://www.alphamagazine.com
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