Institutional Investor's Alpha Magazine - December 2008 / January 2009 - (Page 25) Cover Story Hedge Fund Regulation Europe Page 29 AsiaPacific Page 31 United States Page 26 The Credit Pandemic and the New World Order Illustrations by Anthony Scerri With the global financial system in crisis, lawmakers and regulators in capitals from Washington to Seoul are looking to crack down on hedge funds. global financial system is on life support. The credit crisis that began in the U.S. subprime mortgage market nearly two years ago has become a pandemic, taking down banks, brokerage firms, insurers and other institutions caught in its path. In response governments around the world have injected trillions of dollars, propping up troubled companies as they try to avoid a repeat of the Great Depression. This massive effort comes at time when the U.S. has just elected a new president, European countries are scrambling to deal with soaring unemployment and frozen credit markets, and Asia is fighting to keep its economies from joining the West’s in recession. Hedge funds have not been immune to the crisis. For the first 11 months of 2008, the benchmark HFRI composite index was down nearly 18 percent, with some funds plummeting two to three times that. Not surprisingly, the industry is looking at potentially massive redemptions. No less an authority than George Soros DECEMBER 2008/JANUARY 2009 • INSTITUTIONAL INVESTOR’S ALPHA • 25
Table of Contents Feed for the Digital Edition of Institutional Investor's Alpha Magazine - December 2008 Institutional Investor's Alpha Magazine - December 2008 Contents Letter from the Editor Longs & Shorts Inside the Trade Pension Corner The Good Guys Interview: Stanley Fink Cover Story: The New Regulatory Reality United States: The Usual Suspects Europe: Flirting with Unity Asia-Pacific: What Asian Contagion? In Theory In Focus Strategies Research Center Alpha Bytes Unhedged Commentary Institutional Investor's Alpha Magazine - December 2008 Institutional Investor's Alpha Magazine - December 2008 - Institutional Investor's Alpha Magazine - December 2008 (Page Cover1) Institutional Investor's Alpha Magazine - December 2008 - Institutional Investor's Alpha Magazine - December 2008 (Page Cover2) Institutional Investor's Alpha Magazine - December 2008 - Contents (Page 1) Institutional Investor's Alpha Magazine - December 2008 - Contents (Page 2) Institutional Investor's Alpha Magazine - December 2008 - Letter from the Editor (Page 3) Institutional Investor's Alpha Magazine - December 2008 - Letter from the Editor (Page 4) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 5) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 6) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 7) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 8) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 9) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 10) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 11) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 12) Institutional Investor's Alpha Magazine - December 2008 - Longs & Shorts (Page 13) Institutional Investor's Alpha Magazine - December 2008 - Inside the Trade (Page 14) Institutional Investor's Alpha Magazine - December 2008 - Inside the Trade (Page 15) Institutional Investor's Alpha Magazine - December 2008 - Pension Corner (Page 16) Institutional Investor's Alpha Magazine - December 2008 - Pension Corner (Page 17) Institutional Investor's Alpha Magazine - December 2008 - The Good Guys (Page 18) Institutional Investor's Alpha Magazine - December 2008 - The Good Guys (Page 19) Institutional Investor's Alpha Magazine - December 2008 - Interview: Stanley Fink (Page 20) Institutional Investor's Alpha Magazine - December 2008 - Interview: Stanley Fink (Page 21) Institutional Investor's Alpha Magazine - December 2008 - Interview: Stanley Fink (Page 22) Institutional Investor's Alpha Magazine - December 2008 - Interview: Stanley Fink (Page 23) Institutional Investor's Alpha Magazine - December 2008 - Interview: Stanley Fink (Page 24) Institutional Investor's Alpha Magazine - December 2008 - Cover Story: The New Regulatory Reality (Page 25) Institutional Investor's Alpha Magazine - December 2008 - United States: The Usual Suspects (Page 26) Institutional Investor's Alpha Magazine - December 2008 - United States: The Usual Suspects (Page 27) Institutional Investor's Alpha Magazine - December 2008 - United States: The Usual Suspects (Page 28) Institutional Investor's Alpha Magazine - December 2008 - Europe: Flirting with Unity (Page 29) Institutional Investor's Alpha Magazine - December 2008 - Europe: Flirting with Unity (Page 30) Institutional Investor's Alpha Magazine - December 2008 - Asia-Pacific: What Asian Contagion? (Page 31) Institutional Investor's Alpha Magazine - December 2008 - Asia-Pacific: What Asian Contagion? (Page 32) Institutional Investor's Alpha Magazine - December 2008 - Asia-Pacific: What Asian Contagion? (Page 33) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 34) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 35) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 36) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 37) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 38) Institutional Investor's Alpha Magazine - December 2008 - In Theory (Page 39) Institutional Investor's Alpha Magazine - December 2008 - In Focus (Page 40) Institutional Investor's Alpha Magazine - December 2008 - In Focus (Page 41) Institutional Investor's Alpha Magazine - December 2008 - In Focus (Page 42) Institutional Investor's Alpha Magazine - December 2008 - In Focus (Page 43) Institutional Investor's Alpha Magazine - December 2008 - Strategies (Page 44) Institutional Investor's Alpha Magazine - December 2008 - Strategies (Page 45) Institutional Investor's Alpha Magazine - December 2008 - Strategies (Page 46) Institutional Investor's Alpha Magazine - December 2008 - Strategies (Page 47) Institutional Investor's Alpha Magazine - December 2008 - Strategies (Page 48) Institutional Investor's Alpha Magazine - December 2008 - Research Center (Page 49) Institutional Investor's Alpha Magazine - December 2008 - Research Center (Page 50) Institutional Investor's Alpha Magazine - December 2008 - Research Center (Page 51) Institutional Investor's Alpha Magazine - December 2008 - Research Center (Page 52) Institutional Investor's Alpha Magazine - December 2008 - Research Center (Page 53) Institutional Investor's Alpha Magazine - December 2008 - Alpha Bytes (Page 54) Institutional Investor's Alpha Magazine - December 2008 - Alpha Bytes (Page 55) Institutional Investor's Alpha Magazine - December 2008 - Unhedged Commentary (Page 56) Institutional Investor's Alpha Magazine - December 2008 - Unhedged Commentary (Page Cover3) Institutional Investor's Alpha Magazine - December 2008 - Unhedged Commentary (Page Cover4)
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