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Here are the top quotes and lines from the alternative investment space on Wednesday, Aug. 3.
“A world in which banks don’t lend, young people cannot find jobs, overcapacity is not the cause for prices to fall, is not a world which can long survive.”

“Goldman Sachs’ planned exchange traded fund tracking the 50 most popular hedge fund stocks might be better shorted than purchased.”

"I don't know how people make it on $7.25 an hour. I would like to see an increase of some magnitude. But I'd rather leave it to the states. Let the states decide."

“Valeant was a sewer, and those who created it deserved the opprobrium they got.”

“The decision to put Harriet Tubman [and replace Andrew Jackson] on the new $20 was driven by thousands of responses we received from Americans young and old.”

"As you would expect, we will fully cooperate with the committee's requests."

Rhode Island's state pension fund may soon pull its money out of Luxor Capital Partners. Cliffwater told the Employees' Retirement System of Rhode Island (ERSRI) to pull $35 million out of Luxor as the hedge fund continues to mount losses. Cliffwater’s Thomas Lynch says that Luxor isn’t as good of a stock picker as advertised.

“We’ve been criticized for allowing the holding to grow so large, but our feeling before the crisis erupted was that Valeant was executing well on its business model.”