Alexander Ineichen is founder of Ineichen Research and Management AG, a research firm founded in October 2009 focusing on risk management, absolute returns and thematic investing.
Alexander started his financial career in derivatives brokerage and origination of risk management products at Swiss Bank Corporation in 1988. From 1991 to 2005 he had various research functions within UBS Investment Bank in Zurich and London relating to equity derivatives, indices, capital flows and alternative investments, since 2002 in the role of a Managing Director. From 2005 to 2008 he was a Senior Investment Officer with Alternative Investment Solutions, a fund of hedge funds within UBS Global Asset Management. In 2009 he was Head of Industry Research for the hedge fund platform at UBS Global Asset Management.
Alexander is the author of the two publications “In Search of Alpha―Investing in Hedge Funds” (October 2000) and “The Search for Alpha Continues―Do Fund of Hedge Funds Add Value?" (September 2001). These two documents were the most often printed research publications in the documented history of UBS. He is also author of "Absolute Returns―The Risk and Opportunities of Hedge Fund Investing" (Wiley Finance, October 2002) and “Asymmetric Returns―The Future of Active Asset Management” (Wiley Finance, November 2006). Alexander has also written several research pieces pertaining to equity derivatives and hedge funds including AIMA’s Roadmap to Hedge Funds (November 2008) which also has been translated into Chinese and at the time was the most often downloaded document from their website.
Alexander holds a Bachelor of Science in Business Administration with Major in General Management from the University of Applied Sciences in Business Administration Zürich (HWZ) in Switzerland. Alexander also holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations and is a certified Financial Risk Manager (FRM). He is on the Board of Directors of the CAIA Association.
Nothing I write should be considered investment advice. Only you can decide if any specific financial asset, security, allocation, opinion, idea, etc. is best for your financial portfolio.
Author of two books, available here, Options Strategies Every Investor Should Know and The 5 Fundamentals of Building a Retirement Portfolio (both available in paperback and eBook).
Greenbackd is dedicated to unearthing undervalued asset situations where a catalyst exists likely to unlock the value. Greenbackd focuses on assets for three reasons:
1. Assets are simpler to value than earnings: Earnings are often difficult to forecast with any degree of accuracy and we can't value a security based on unknown future earnings. Assets, on the other hand, are known quantities at filing. This is not to say that the value of the assets recorded in the filing is the value we ascribe to them. We disregard intangible assets, heavily discount long-term and fixed assets, and apply a modest discount to current assets. We take only cash at face value. For these reasons, we prefer that each security is predominantly backed by cash, hence our name: Greenbackd. 2. Assets anticipate the downside, the liquidation value, first: This forces us to be conservative in our assessment of value.
3. Assets are a contrarian measure of value: To the extent that Wall Street makes any assessment of value, it is obsessed with earnings. It pays little attention to assets. This creates an opportunity where a valuation based on a company's earnings underestimates the company's asset value.
Our favorite stocks are those trading at a substantial discount to liquidation value with an activist investor pushing the company to undertake some corporate action (for example, return capital, pay a special dividend, buy back stock, sell a key asset or the entire company). Greenbackd is penned by a former securities lawyer now working in value-oriented activist funds management
Visit his website: Greenbackd (http://greenbackd.com/)
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The Unknown Professor (pseudonym) began blogging in 2004 as a "good way to keep track of all the random internet stuff" he comes across. His blog site, Financial Rounds (http://financialrounds.blogspot.com/), came together shortly there after; in a little more than 18 months, it has recorded 50,000 hits. This mystery blogger writes under the pseudonym "Unknown Professor" - name inspired by the late 70's comic known as the Unknown Comic - because he is as yet an untenured professor and would like to keep things anonymous until he is safely granted tenure.
Unknown assures us he's a college-level econ professor who graduated from a fairly decent (though not top tier) Ph.D. program. While he's been known to blog about "whatever strikes his fancy," he consistently writes about financial topics which can be heavily researched and confirmed by statistical analysis, with a focus on topics of legal interest such as the options backdating scandals and insider trading. He is 48 and lives with the Unknown Wife, and the Unknown Son and Daughter.
Visit his site: http://financialrounds.blogspot.com