Which Hedge Fund Did $1 Billion In Trades Every Working Day In 2012?

We know Apple has been doing quite a few things around managing its Cash and taxes overall – but this one data point came as a surprise to us – Braeburn Capital, of which AAPL is a holding company, did some 250 billion dollars in trade in the year 2012 alone – and some 600 billion dollars in the last four years – that kind of trade volume is higher than some 99 percent of the hedge funds! (Source)

How do we digest this number? Thats the whole point, we cannot digest this – but here is an attempt – this sort of volume has a lot of implications from trading commissions going to banks that also give buy/sell recommendations for AAPL stock etc – lots of conflicts of interest overall. Managing Money is always difficult. And when you have almost 140 billion dollars to manage, it gets tricky for sure.

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Wall Street Thinks Facebook Will Grow 29 Times Faster Than Apple

We have kept this math simple – at current market prices, Facebook is trading at a P/E of 290.95, and AAPL is trading at a P/E of 10.21. Wall Street really thinks that Facebook is likely to grow 29 times faster than Apple? wow.

okay, if that understanding is wrong, here is one more: “The PEG ratio (Price/Earnings To Growth ratio) illustrates the relationship between stock price, earning per share, and the company’s growth rate. The PEG ratio consists of the PE ratio divided by the company’s growth rate. Using just the PE ratio makes high-growth companies look overvalued relative to others. By dividing the PE ratio by the earnings growth rate, the PEG ratio allows investors to accurately compare companies with different PE ratios and growth rates.”

FB PEG Ratio (5 Year expected) : 2.03
AAPL PEG Ratio (5 Year expected) : 0.73

Really? With half-a-billion iOS devices on the planet?

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How Many ‘Quants’ Are There Worldwide?

Sure, this is anecdotal and not scientific – something quants would hate – but this is the first time we spotted something like this – that worldwide, there are only a very small number of people who trade the markets based on algorithms and other quantitative methods – about 10,000 quants exist worldwide (Source)

That seemed to us like a strikingly small number at first sight. But we tried digesting it this way – as you move into the automated world, the ‘number of people’ stat will always be a surprise. That is the whole point, actually.

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$260 Billion: CalPERS Nears A Record Value In Assets

2008 might have dealt a huge blow to CalPERS, the country’s largest public pension, but it is back now, with quite a bang. It is all set to top $260 billion in assets, which would be an all-time high. (Source)

There are two pointers that would help us digest this stat: half of this money is invested in publicly traded equities, and the second pointer, is that the 100 largest public pensions have an asset base of some $2.8 trillion.

Huge numbers, these.

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Something Is Happening In The Bitcoin World: Up 237 Percent In 7 Months

We just did not want this to go unnoticed – BTC, when priced in USD, has seen a stunning move up – more than three times the value in May 2012 – a movement from 5 USD to 16.8 USD per BTC. That is a more than 200 percent return in 7 months – a solid return by all standards.

Chart Source

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Number Of Large Banks That Meet OCC’s Auditing Requirements: ZERO

‘Banks are big spenders on IT’ we hear this all the time. So we were very surprised when we spotted this stat, that none of the 19 largest banks in the US meet the OCC’s requirements for internal auditing, risk management or succession planning. (Source)

“The Office of the Comptroller of the Currency recently graded the 19 largest national banks on five factors designed to gauge how well they are being run.

The results are startling.

Not a single bank met the OCC’s requirements for internal auditing, risk management or succession planning. Only two of the 19 banks met the regulator’s requirements for defining the company’s appetite for risk-taking and communicating it across the company. Only two banks were judged to have boards of directors willing to stand up to their CEOs…” Source

How do we digest this stat? We can try this: Banks Make One-Third of Total Corporate Profits and, the most profitable bank in the world just became more profitable

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86.2% Off On GRPN at NASDAQ Was Truly The Best Groupon Deal Ever

Remember the GRPN deal we had spotted – The Best Groupon Deal Ever: 86.2% Off On GRPN at NASDAQ – turns out, that was indeed a great deal – the stock has doubled since then – GRPN closed at $5.19 today.

Did you buy the deal?

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The Most Profitable Bank In The World Is More Profitable Now

We had written about the kind of money made by the Fed, that made it the most profitable bank in the world – we spotted some numbers today, that makes the Fed more profitable now, and it is on a growth trajectory as well. It has a $2.9 trillion balance sheet now, and some 89 billion dollars have been sent back to the government (Source)

How do we digest these billions and trillions? One way could be this: the easing program is still on, and so the balance sheet would swell by 85 billion dollars every month, or more than a trillion dollars in 2013. But where does the Fed’s profits come from? We need to do some analysis on that, and that would be a separate post.

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3 Out Of The 5 Top Performing Hedge Funds Invested In Mortgage Securities

Bloomberg has some solid analysis of hedge funds out, we spotted this today:

“Betting on mortgage securities outpaced every other strategy, with an average return of 20.2 percent, against an industry average of just 1.3 percent, according to data compiled by Bloomberg.” – this was a list of the 100 best- performing hedge funds managing $1 billion or more.

Source

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Returns At Hedge Funds Run by Women Beat the Industry

We had spotted some stats that proved that 2012 was a disappointing year for hedge funds overall – hedge fund 2012 returns were just 3.17 percent. Today we spotted this interesting stat, that the returns of hedge funds run by women had returns of 8.95 percent through the first three quarters (Source)

We wonder how those numbers would be, for all firms and not just hedge funds. There might be some positive surprises.

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