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p*********o
发帖数: 27 | 2 AUM不知道是不是好透露，毕竟是小公司，不过根据我在网上查到的信息，他们的AUM是
在对于一个start-up来说合理的范围里
我主要关心的还是start-up fund的前途，start-up fund很多都倒了的确不假，如果倒
了那也没办法，但如果做下来我也很容易会就被替掉的话，我看不出来为什么在大公司
我就不会很容易被替掉。 |
|
l******i
发帖数: 1404 | 3 你要真想问就好好说aum有多少。你不说我怎么知道。
11mm和99mm都是10mm-100mm之间，差别自然很大。
aum又不是什么秘密，BrightScope都可以查到。
又没有让你公开pnl，你人都还没进去瞎紧张啥。 |
|
q*********t
发帖数: 19 | 4 其实我们有一半的客户是纯收益提成 没有固定的管理费 比hf还夸张 所以收益很重要
但在公司达到既定decapacity之前aum当然是越多越好 所以pm就要花很多时间做
pitching
AUM |
|
h****e
发帖数: 2125 | 5 lol，你个二逼来强词夺理了，你丫懂什么叫margin么？
你tm自己说citadel aum越来越大 所以我跟了一句citadel hf aum 和citadel |
|
s******e
发帖数: 1751 | 6 这个知识是用来谈判margin agreement. 一般人用不着,也没什么好show off的。里面
的细节,法律和风险上的,只有做过才了解,书上是查不到的。
当然你个b出息大了,要aum来做hft.祝你老X aum越来越大。 |
|
发帖数: 1 | 7 你问了一个好问题。starting salary没那么重要，一般就刚毕业比较care，职业中期
关键还是要看upside。
BalyasnyAM和SquarePoint的monthly return可以上EurekaHedge查，sharpe分别是1.36
、0.94，annual return 10.43%、6.22%。比起上面讨论的几家performance还是有不少
差距。尤其考虑到size/capacity的因素：$40B和$4B的book实盘跑起来还是差别很大的
。。
论upside：几家大fund客观评价应该还是DEShaw最好(上面提到的那几个大组)。
原因很简单：AUM大、multi-strats performance近30年来一直比较成熟稳定、核心人
员少而精。
保守估计且先忽略DEShaw30%fee的fund以20%做benchmark:
$41,000m * 15% ret * 20% fee / 80 people = $15m/(yr,person)
考虑到大佬要拿掉大半，还要再乘个fraction。当然啦，以上估算针对VP及以上的core
investm... 阅读全帖 |
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I***e
发帖数: 1136 | 8 That's not to say 2T is small size. You know that the US equity market is
about 14T, and global equity market is about 50T as we speak. However, even
with an AUM of 100B it is very hard for an equity fund to outperform the
benchmark. In fact, most of them underperform.
is
usually
market
.S
2007) in the U.S. bond market takes place between broker-dealers and large
institutions in a decentralized, over-the-counter (OTC) market. However, a
small number of bonds, primarily corporate, are listed on |
|
h*******0
发帖数: 189 | 9 36亿美元的HF也好意思拿出来说？D.E.Shaw, Paulson, Soros,AHL,Bridge Water这几
家在香港注资了几百亿美金，就是看好内地的基建；更不要说富达和贝恩资本在北京的
影响力。
AUM < $10bn的就不要出来表态了，你那美国朋友是在里面做IT Support的吧 |
|
|
z******a
发帖数: 5381 | 11 万亿概念狠复杂么？英文简称T,中文俗名“吹”就是这个
具体化来说，就是４万亿的四分之一，酱紫。
我说的是可以调动的资源。并不是现金的概念，类似于基金经理的AUM的概念。 |
|
c*****r
发帖数: 8227 | 12 assets under management (AUM)
does not mean
assets owned |
|
s******e
发帖数: 1751 | 13 mlgb你有意思吗? 下一步要比简历了是吧?再比风险头寸,aum,Sharpe ratio?
我只是靠这个糊口而已,兄台那个fund混得,我们结交结交? |
|
S**C
发帖数: 2964 | 14 A mistake was made, admit it and move on. There is no single fund, bond or
equity, has AUM anywhere near $1T. PIMCO managed close to 2T at one point in
hundreds of funds (I did not count the different classes of one single
strategy), but even so, 1) they cannot adjust that much as they are bound to
their mandates and, 2) Treasury is only less than 30% of the US debt market
, and PIMCO was underweighting treasury as mortgage and corporate provide
better value. So no matter how you count it, even ... 阅读全帖 |
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|
发帖数: 1 | 16 12 月 1 日 又看了一则新闻， 呵呵
刚看了一则新闻关于麦当劳转卖的新闻，对于中国的食品安全，我总是千百个担忧，有
必要好好看一看接手人的背景及相关信息。接手麦当劳不容易啊。我不评论啊，只是观
看。你们撒的毒气越多，电磁波攻击的越强，我阅读的效果就越好。呵呵。
A consortium led by private-equity firm Carlyle Group (CG.O) and Chinese
conglomerate Citic Group Corp has neared a deal to buy McDonald's Corp's (
MCD.N) stores in China and Hong Kong for up to $3 billion, a source with
direct knowledge of the matter said.
The deal is likely to be signed before Christmas, the source said.
Reuters had reported in October that U.S... 阅读全帖 |
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o*********e
发帖数: 3093 | 17 MON ONCLE JULES
我的叔叔于勒
Maupassant
莫泊桑
Un vieux pauvre, à barbe blanche, nous demanda l'aumône. Mon
camarade Joseph Davranche lui donna cent sous. Je fus surpris. Il me dit :
- Ce misérable m'a rappelé une histoire que je vais te dire et dont le
souvenir me poursuit sans cesse. La voici :
Ma famille, originaire du Havre, n'était pas riche. On s'en tirait,
voilà tout. Le père travaillait, rentrait tard du bureau et ne gagnait pas
grand-chose. J'avais deux soeurs.
... 阅读全帖 |
|
x****6
发帖数: 4339 | 18 在国内，现在正为AUM指标发愁呢。
前一阵走了两笔总用9亿人刀的存款，现在在打了鸡血的去找存款。
就是个金融民工。 |
|
a*****8
发帖数: 334 | 19 澳洲著名杂志《Australian Rationalist》1999年第51期曾刊登Vera Butler博士的一
篇文章，文章通过列举世界各国臭名昭著的各类邪教，对全球化影响下的“新时代”的
邪教进行了透彻的分析。本文选译了这篇文章的部分段落，作者Vera Butler在文中指
出，包括法轮功在内的邪教打着“宗教自由”的幌子，聚敛大量的财富，给追随者们造
成的极大的心理和肉体上的伤害，但是却没有对信徒、对整个社会负责，亟需各国政府
提高对其危害性的认识，与其斗争，否则我们民主的根基将遭到破坏。
各种各样的邪教在全球铺天盖地地展开，其速度之快令人忧心，这些邪教吸引了众
多的追随者，搜刮了大量的财富，这一现状亟需引起各方重视。自封的“新时代”的教
主隐藏其真正目的，更没有承担起因为他们给信徒带来的精神和肉体上的伤害的责任，
一味绞尽脑汁以期控制民众大脑和钱包。这些所谓“运动”的共同点就是其组织缺乏透
明度。这种新的领袖族群不是通过选举产生的，要求信徒绝对推崇其独裁。他们既不对
信徒负责也不对整个社会负责。因此为了公众的利益，我们要更加密切关注他们的活动。
面对一些疯狂的操控者过激的行为，... 阅读全帖 |
|
w******n
发帖数: 4955 | 20 发布日期：2015年03月27日 文章来源：凯风网
作者：清风（编译）
【字体大小：大 中 小】
【凯风网3月27日消息，通讯员：清风】美国华尔街日报3月5日报道
，3月20日是日本邪教奥姆真理教实施东京地铁沙林毒气案20周年，奥姆真理教教主麻
原彰晃（原名松本智津夫）的三女儿松本丽华撰写回忆录《时钟停止》（Tomatta
Tokei）将由日本最大的综合性出版社讲谈社（KodanSha）3月20日当天正式发行，并在
日本亚马逊网站上公开销售。
讲谈社发言人在接受《华尔街日报》（亚洲版）“日本实时报”记者采访时表示，
此书是麻原彰晃三女儿松本丽华记述了她对于父亲的记忆以及她父亲1995年因沙林毒气
案被捕后自己生活受到的影响。
这本书将于3月20日公开销售，而当天正好是奥姆真理教实施东京沙林毒气案25周
年纪念日。当年的毒气惨案由麻原彰晃一手策划，事发当天早晨，奥姆真理教信徒们携
带装有“沙林”混合液的塑料袋子，分头窜至东京地铁多处站点，刺破袋子释... 阅读全帖 |
|
w******n
发帖数: 4955 | 21 【凯风网3月27日消息，通讯员：清风】美国华尔街日报3月5日报道
，3月20日是日本邪教奥姆真理教实施东京地铁沙林毒气案20周年，奥姆真理教教主麻
原彰晃（原名松本智津夫）的三女儿松本丽华撰写回忆录《时钟停止》（Tomatta
Tokei）将由日本最大的综合性出版社讲谈社（KodanSha）3月20日当天正式发行，并在
日本亚马逊网站上公开销售。
讲谈社发言人在接受《华尔街日报》（亚洲版）“日本实时报”记者采访时表示，
此书是麻原彰晃三女儿松本丽华记述了她对于父亲的记忆以及她父亲1995年因沙林毒气
案被捕后自己生活受到的影响。
这本书将于3月20日公开销售，而当天正好是奥姆真理教实施东京沙林毒气案25周
年纪念日。当年的毒气惨案由麻原彰晃一手策划，事发当天早晨，奥姆真理教信徒们携
带装有“沙林”混合液的塑料袋子，分头窜至东京地铁多处站点，刺破袋子释放毒气，
造成6000多人受伤，13人死亡，事件震惊了全世界。
案发后，多名制造沙林毒气及具体实施毒气攻击的邪教成员被捕，包括麻原彰晃在
内的许多成员被判处死刑。
... 阅读全帖 |
|
q*****i
发帖数: 334 | 22 【凯风网3月27日消息，通讯员：清风】美国华尔街日报3月5日报道，3月20日是日本邪
教奥姆真理教实施东京地铁沙林毒气案20周年，奥姆真理教教主麻原彰晃（原名松本智
津夫）的三女儿松本丽华撰写回忆录《时钟停止》（Tomatta Tokei）将由日本最大的
综合性出版社讲谈社（KodanSha）3月20日当天正式发行，并在日本亚马逊网站上公开
销售。
讲谈社发言人在接受《华尔街日报》（亚洲版）“日本实时报”记者采访时表示，
此书是麻原彰晃三女儿松本丽华记述了她对于父亲的记忆以及她父亲1995年因沙林毒气
案被捕后自己生活受到的影响。
这本书将于3月20日公开销售，而当天正好是奥姆真理教实施东京沙林毒气案25周
年纪念日。当年的毒气惨案由麻原彰晃一手策划，事发当天早晨，奥姆真理教信徒们携
带装有“沙林”混合液的塑料袋子，分头窜至东京地铁多处站点，刺破袋子释放毒气，
造成6000多人受伤，13人死亡，事件震惊了全世界。
案发后，多名制造沙林毒气及具体实施毒气攻击的邪教成员被捕，包括麻原彰晃在
内的许多成员被判处死刑。
松本丽华出生于1983年4... 阅读全帖 |
|
z*****i
发帖数: 370 | 23 【凯风网3月27日消息，通讯员：清风】美国华尔街日报3月5日报道，3月20日是日本邪
教奥姆真理教实施东京地铁沙林毒气案20周年，奥姆真理教教主麻原彰晃（原名松本智
津夫）的三女儿松本丽华撰写回忆录《时钟停止》（Tomatta Tokei）将由日本最大的
综合性出版社讲谈社（KodanSha）3月20日当天正式发行，并在日本亚马逊网站上公开
销售。
讲谈社发言人在接受《华尔街日报》（亚洲版）“日本实时报”记者采访时表示，
此书是麻原彰晃三女儿松本丽华记述了她对于父亲的记忆以及她父亲1995年因沙林毒气
案被捕后自己生活受到的影响。
这本书将于3月20日公开销售，而当天正好是奥姆真理教实施东京沙林毒气案25周
年纪念日。当年的毒气惨案由麻原彰晃一手策划，事发当天早晨，奥姆真理教信徒们携
带装有“沙林”混合液的塑料袋子，分头窜至东京地铁多处站点，刺破袋子释放毒气，
造成6000多人受伤，13人死亡，事件震惊了全世界。
案发后，多名制造沙林毒气及具体实施毒气攻击的邪教成员被捕，包括麻原彰晃在
内的许多成员被判处死刑。
松本丽华出生于1983年4... 阅读全帖 |
|
z*y
发帖数: 367 | 24 【凯风网3月27日消息，通讯员：清风】美国华尔街日报3月5日报道，3月20日是日本邪
教奥姆真理教实施东京地铁沙林毒气案20周年，奥姆真理教教主麻原彰晃（原名松本智
津夫）的三女儿松本丽华撰写回忆录《时钟停止》（Tomatta Tokei）将由日本最大的
综合性出版社讲谈社（KodanSha）3月20日当天正式发行，并在日本亚马逊网站上公开
销售。
讲谈社发言人在接受《华尔街日报》（亚洲版）“日本实时报”记者采访时表示，
此书是麻原彰晃三女儿松本丽华记述了她对于父亲的记忆以及她父亲1995年因沙林毒气
案被捕后自己生活受到的影响。
这本书将于3月20日公开销售，而当天正好是奥姆真理教实施东京沙林毒气案25周
年纪念日。当年的毒气惨案由麻原彰晃一手策划，事发当天早晨，奥姆真理教信徒们携
带装有“沙林”混合液的塑料袋子，分头窜至东京地铁多处站点，刺破袋子释放毒气，
造成6000多人受伤，13人死亡，事件震惊了全世界。
案发后，多名制造沙林毒气及具体实施毒气攻击的邪教成员被捕，包括麻原彰晃在
内的许多成员被判处死刑。
松本丽华出生于1983年4... 阅读全帖 |
|
k*******3
发帖数: 918 | 25
"Brainwashed" is a common way for terror groups recruit and control
attacks, terrorist organization commonly used to modify the doctrine
ideological indoctrination, "religion" as "extremist ideology", "Al Qaeda"
early in 2002 had by Islamic state prison based gold will to prisons in the
United States provide are intentionally modified, joined the extremist
religious ideology and anti - the content of the United States, "the Koran",
hope thereby developing members and growing organiz... 阅读全帖 |
|
k*******3
发帖数: 918 | 26 Behind the behavior of terrorist organizations and terrorists have
complicated political motivation and the motivation are usually built on top
of the interests and needs of a certain political forces, whether early "
Islamic Jihad", with "Al Qaeda" and "East Turkistan" organizations, their
ultimate goal not to narrow national interests is to some extreme religious,
cultural fanaticism, or is a paranoid social and political ideas, and then
through the terrorist attacks, such as the war wa... 阅读全帖 |
|
|
b*****e
发帖数: 1125 | 28 虽然样本不大，但整体表现很不错。正如我之前所预计的，redemption应该已经结束了
，如果performance能一直稳定下去，AUM到年底还会增长。银行trading business的日
子应该过得很不错哈。
此外我们公司6月已有新的客户开始加钱进来了，虽然数额不大，但足以代表投资者的
信心已经开始恢复。只要经济数据能像预计的年底开始全面复苏，牛市应该不会太遥远。 |
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l**********t
发帖数: 5754 | 29 mutual funds in 401k always charge fees -- the fund NAV already reflects the
operating expenses, and most likely they are not stated in dollar amounts
in your personal account statements.
for retail actively-managed stock funds (fidelity, etc), the fee is about 1%
(so you pay $1 for each $100 AUM). For retail index funds (Vanguard etc),
it is much cheaper. |
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l**********t
发帖数: 5754 | 30 retail/mutual fund firm's revenue is based on AUM. As long as a firm can
attract assets from less-informed retail investors, by better marketing/
brand-recognition/distribution channel, etc, under-performance is not a
problem. Many simply run a closet index fund but charge investors with
active management fees -- unless you do your homework, you can't tell from
the popularity of the fund or the firm. |
|
V***r
发帖数: 78 | 31 What is AUM?
level. So I would discourage you or anybody to buy into this fund, :-) |
|
o***o
发帖数: 36 | 32 % return only make sense if you also reveal your AUM.
I bought two dollars lottery and won 5 dollars, my % return is 150%, does
that mean anything ? |
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S**C
发帖数: 2964 | 33 Actually, I do not mind to pay 50-100 base points more than Vanguard index
funds if the fund managers have long and consistent good track record, small
/reasonable AUM, low turn over, investment strategy and philosophy that I
understand. I also do demand better bear market protection.
needs
that
/3 |
|
S**C
发帖数: 2964 | 34 Depends on what category. If domestic large cap, yes, 1.37% is too high,
domestic small cap or international large cap, yeah, a little bit high. For
a international small cap, then 1.37% is pretty reasonable, especially if
that fund is good, has low AUM, tend to shut down before it become bloated,
etc.. |
|
S**C
发帖数: 2964 | 35 I am talking about VANGUARD actively manage fund, which has low cost.
Throwing out actively managed funds with high fees, large AUM, high
turnovers and closet index fund, you get a much better subset. |
|
S**C
发帖数: 2964 | 36 VWELX is 60/40 and VWINX is 40/60 allocation funds, mostly hold large cap
with value bend especially VWINX. They also mostly hold a lot of corporate
bonds. For a few basis point higher than their relevant index funds,
although not guantanteed, they stand to have a good chance to continue
outperform, in spite of their bloated AUM.
You do know there are thousands of grey between black and white, yes?
Bogleheads typically think the reason why investors use active-managed
vehicles is to beat the mar... 阅读全帖 |
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m****s
发帖数: 7397 | 37 Fund Regulatory Assets Net Assets
================================================================
Bridgewater Associates $121,007,400,554 $121,000,000,000*
Millennium Mgmt $119,000,070,000 $13,512,188,000
Citadel Advisors $115,208,973,792 $12,610,000,000
AQR Capital Mgmt $75,642,756,187 $43,500,000,000
D.E. Shaw & Co. $49,315,000,000 $16,500,000,000
Renaissance Technologies $48,980,049,045 $20,000,0... 阅读全帖 |
|
d**********t
发帖数: 5 | 38 I represent a brokerage firm on wall street which raises funds for various
managed futures trading strategies. We are currently seeking investments for
a particularly robust managed futures strategy that currently has $32M AUM
(asset under management). The manager is a PhD from Harvard University and a
former global macro trader at SAC capital where he managed more than $100M
capital. This program started in Nov, 2009.
This program seeks to profit from short term directional and volatility skew
... 阅读全帖 |
|
S**C
发帖数: 2964 | 39 It is ironic that bogleheads brought up such cliche that 80% (or whatever
percentage) MM lose to index and at the same time use market-cap weighted
index.
What about AUM weighted active MM performance? I am sure the index will
still has tiny little edges, but the margin will be significantly smaller.
How about throw out high-fees and closet index funds? Vangaurd's active
funds anyone?
An average Joe trained tennis for a few days can say his tennis skill is
better than 80% or maybe 90% world popu... 阅读全帖 |
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S**C
发帖数: 2964 | 40 An average Joe who spend his DD may not act like a monkey throwing dart at a
borad with 5000+ MF names, regardless if they are equal-weighted or AUM-
weighted. |
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S**C
发帖数: 2964 | 41 Go with low fees, better yet, low fees, low AUM, low turnover and
concentrated portfolio where most likely you can get excessive alpha.
Not a call for actively managed funds, but if one wants to go that path with
strong reasons, it is that best shot for that path. |
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S**C
发帖数: 2964 | 42 Who are them? The funds with low fees, low turn-overs, not index huggers,
and low AUMs collectively? |
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S**C
发帖数: 2964 | 43 There are actually some acdemic studies on that "active share" topic, but I
will put my emphasize on low cost, low turn-over, and low AUM, about in that
order.
likely |
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S**C
发帖数: 2964 | 44 As a general rule, I do not recommend actively managed funds that I hold,
simply because I have no reason to help them to grow AUM.
I guess Vanguard actively managed funds are good place to start with. |
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S**C
发帖数: 2964 | 45 It is too bad that VG actively managed funds outperform, and the fact in
itself drives some ideologues nuts.
And I stand by my statement that any research which is not AUM weighted,
include high ER and closet-index funds are intellectually lazy and dishonest. |
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S**C
发帖数: 2964 | 46 Those studies have something in common, they compare the whole active funds
universe and equal weight, which are intellectually lazy and dishonest. Any
investor who do his or her DD won't invest that way. Or you try to tell me
ER and AUM has no signifivant negetive impact on TR? Or anyone should be
surprised that closet-index funds will underperform, given they closely
mirron index yet charge higher fees?
Actually I love to see people move to index funds, it is of my interest for
at least two re... 阅读全帖 |
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S**C
发帖数: 2964 | 47 It is one thing at a few billion, but quite another at $100B.
Let's look at Warren Buffet. He closed his partnership to new investment in
1965 at an asset level of $43 million, that's about 320 million today's
dollar, the reason is he thought his performance would be impaired by
further asset bloat.
Use this data and GMO's rule of thumb regarding asset bloat impact on WB's
performance
Asset Size....Expected Alpha
$320M.........22%
$1.3B.........11%
$5.1B.........5.5%
$20B..........2.8%
$80B........ 阅读全帖 |
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S**C
发帖数: 2964 | 48 PIMCO I-class is not difficult to get in. Scottrade has it for $100 min
initial in any account.
I do not think Rob gets the move as fast as he would like to have, AA and
AAAA alone have ~$60B AUM, and PIMCO will close funds only if their
aggregated money under management exceed US total debt. Rob said he did not
consult with PIMCO managers when he moved in and out of any their funds, but
I will be surprised if he did not get a midnight call from Bill or Mohamed
if he really dump/withdraw large s... 阅读全帖 |
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S**C
发帖数: 2964 | 49 72.5B AUM, its equity sleeve around 47B, that's huge. |
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M********r
发帖数: 278 | 50 What are you afraid of? If you are afraid of losing money because of bad
investment choice ( say you invest in a very agressive sector fund and lose
money because of market turmoil), the choice is yours. You need to make wise
investment selections based on your investment objectives. You want to be
safe? Vanguard has money market funds for your safety needs.
If you are afraid of vangaurd as a company, keep in mind that vanguard is
one of, if not THE most reputable company arround with a giganti... 阅读全帖 |
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