Archive for June, 2014

IFR: Why not globalization?

One person who has thought interestingly about these issues is Stephen Jen, a hedge fund manager at SLJ Macro Partners. Jen argues, picking up on points made by economist Paul Samuelson a decade ago, that lagged effects of globalization may be behind some of the peculiarities in both markets and economics we now observe.

“Traditional economists have been puzzled by the disappointing recovery in developed market employment and capital expenditure. Globalization, we believe, could help explain both puzzles,” Jen and colleague Fatih Yilmaz wrote in a recent letter to clients.

Read the original article on the ‘IFRE’ website.

FT: Market volatility plummets to multiyear lows

As well as central bank action, volatility has fallen as a result of tougher bank regulations, which have increased the cost of trading, and because of an increased reluctance by hedge funds to take strong positions. Stephen Jen, head of the hedge fund SLJ Macro Partners, says: “I do feel people are more jittery. They have smaller positions and are quicker to flatten their books and change their minds.”

Read the original article on the ‘Financial Times’ website.

Bloomberg: BRIC Rally’s Weak Point Exposed in Brazilian Selloff

“Is the rally built on a solid foundation? I doubt it,” Stephen Jen, co-founder of SLJ Macro Partners LLP and a former International Monetary Fund economist, said in a phone interview on May 30 from London.”

 

Read the original article on the ‘Bloomberg’ website.