Andrew Lo

Andrew Lo News

UBS $1.5 Billion Libor Settlement Signals More to Come

UBS AG’s $1.5 billion settlement for manipulation of interest rates and criminal charges against two former traders paves the way for additional sanctions in a global investigation of more than a dozen banks and brokers.
DeMark Fibonacci Charts Embraced by Cohen Lure Investors

Past the two Bentleys in the driveway and beyond the pool and mini water park, the home theater and a sports bar hung with enough memorabilia to equip a basketball team, Tom DeMark has his office -- a dark, wood- paneled lair with six computer screens.
Calpers After Scandal Embraces Risk Facing $240 Billion Gap

Joe Dear is giving a pep talk to more than two dozen colleagues at the California Public Employees’ Retirement System. As Dear paces before his people on this July afternoon in Sacramento, he implores them to shake off the funk of the pension fund’s recent troubles.
Cleaning Up Calpers

After the largest U.S. pension fund lost $70 billion and got embroiled in an influence- peddling scandal, new investment chief Joe Dear says the only way out of this mess is to take more risk.
Asness Meets ‘Grim Reaper’ Before Fund Rebounds From 50% Loss

Clifford Asness , who runs AQR Capital Management LLC, one of the world’s biggest hedge funds, says fellow fund managers gouge their clients by charging exorbitant fees for just tracking the markets. He also takes a dim view of the administration of President Barack Obama , calling his economic team “Cossacks on a shtetl,” a reference to the Russian cavalrymen who sacked Jewish villages in Eastern Europe in the 19th century.
The Quant Who Won't Shut Up

After losses of more than 50 percent in 2007 and 2008, Cliff Asness of AQR Capital Management is starting new hedge and mutual funds--and sounding off on everything from taxes to Tea Partiers.
No Joy on Wall Street as Biggest Banks Earn $63 Billion

Four years ago today, President George W. Bush signed into law the biggest corporate rescue in American history. Even as U.S. unemployment has remained above 8 percent for 43 months, the country’s biggest banks are making almost as much as they ever have.
Andrew Lo on the Volatility of Volatility

July 31 (Bloomberg) -- MIT Finance Professor Andrew Lo discusses the volatility of volatility. He speaks with Adam Johnson and Alix Steel on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Obama-Romney U.S. Auto Spat Turns on Saving U.S. Economy

President Barack Obama and Mitt Romney’s debate exchange over auto bailouts reignited a long- running dispute over whether the government’s financial-crisis rescue plan was a good deal for taxpayers. The answer: It depends.
Trading Pennies Into $7 Billion Drives High-Frequency’s Cowboys

A cowboy-hat-wearing robot with “Sell” emblazoned across its chest adorns a wall-length mural in the lounge of RGM Advisors LLC in Austin, Texas. Another robot, with “Buy” on it, wobbles toward a green Wall Street sign as two machines tote spark-emitting high-speed cables.