Opinion/Regulation
Witteveen's legacy
Editor's Letter
No silver bullet
The emergence of contingent credit default swaps has presented banks with a new way to manage their counterparty credit exposures. However, they have important limitations, argues David Rowe
Talking Point - Risk repricing
Does the recent slump in bond issuance, combined with a slowdown in LBO financing, signal a period of indigestion or the beginning of a repricing of risk? (NB views received by August 17)
The bear essentials
The recent subprime-related volatility has been an eye-opening - not to say eye-watering - experience for many. Now the foundations have been laid for a bear market come 2008
The consequences of risk-based regulation
Editor's Letter
Lagging risk management
The rate of growth in the complexity of new derivatives products is causing a worrisome lag in risk management's ability to keep pace. As credit derivatives markets endure a period of stress, this lag could have serious consequences, argues David Rowe
Is it really alpha?
Hedge funds often characterise their mission as the pursuit of pure alpha. A growing body of research, however, argues that a significant proportion of observed hedge fund returns are really alternative beta. David Rowe considers the implications for the…
Legal Spotlight
Powers extended to the new pensions regulator in the UK may make it more difficult for some merger and buyout transactions to take place. Bob Buhr explains how credit investors may stand to gain
Editor's letter
Editorial
Risk milestones
Anniversaries inevitably inspire an urge to reminisce. David Rowe lists several important public milestones and one personal milestone in the development of financial risk management
Pursuing alpha
Editor's letter
Column: Amy Falls
Markets are ignoring the likelihood of rate rises in the US. But inflation, dollar weakness and private equity exuberance may herald the sudden return of interest rate risk
Column: John Birdwood
Investors of a certain vintage will know that there's nothing new about the subprime boom and bust. Savings and loan associations in the 1980s went through a similar ordeal
Legal spotlight: principles-based regulation
Legal Spotlight