continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr It seems like every time a sudden and severe shock hits the financial markets, all the fancy hedge fund investment strategies that use monikers like, “Enhanced Return,” or “Alpha Plus” go from being perfectly fine to gone within a month. This has happened in the major market blow-ups in 1998, 2001, 2008, and 2020, with a few notable semi disasters (2002, 2013, 2016) thrown in between. Then, when the dust clears, investors are pulverized, and fund managers close up shop so as not to have to work the next 5 years for free to make up remaining investors’ losses.Naturally, with 2020 being easily the worst economic disaster to hit in nearly a century, the “Alpha” and “Enhanced” hedge fund story has been no different. Recently, one fund run by a very prominent money manager dropped a cool 75% in March. You almost have to try to lose 75% in a month, kind of like Max Bialystock and Leo Bloom in “The Producers.” Many other hedge funds have followed suit, only losing 25% or so. What we find is the same, old story. We find out that the managers with their rocket scientist degrees were, when it comes down to brass tacks, selling puts and calls on an index like the S&P 500 and collecting premiums every month –which was great until the market blew up. Sure, they may have been trading fancy things like “Skew Vol” vs. “VIX” or some other attributes with Greek letters, and no doubt, there were some cool algorithms, but in the end, it was simply selling volatility that blew them up. We call this, “The Picking up Nickels in Front of the Steamroller” strategy.So much of the selling volatility strategies are part of “The Fed has my back” approach to market investing. Let’s face it; the Fed has been supportive of risk for far too long. The increase in their support has been parabolic. This is what leads to long periods of declining volatility and price inflation for risk assets like equities and corporate credit. Pressure builds, as the degree of Fed support increases, and each blow-up tends to be more spectacular than the last. That is why, before the Fed and Treasury came in the markets in March with the message of, “Put the sell button down, we’re going to be buying everything!” the most liquid markets in the world, US Treasury and Agency Mortgage-Backed Securities markets were simply broken. Anyone who relied on leverage through borrowing was being margin called out of existence.
Press Association Di Maria is currently on leave after his exertions with Argentina at the Copa America, but Van Gaal insists the midfielder will fly to the US on Saturday, as had been originally planned before the tour started. “He will come on July 25,” the United manager said. Van Gaal refused to dismiss reports United’s executive vice-chairman Ed Woodward met with PSG officials to discuss Di Maria’s future on Tuesday. “I cannot answer that,” the Dutchman said. “It is a process. When we think we have to say something, we will.” Di Maria has also encountered problems off the field since his move to England. He and his family moved out of their Cheshire home in February following an attempted burglary. Senior sources at United recently downplayed suggestions Di Maria was unsettled in Manchester, but that has not stopped cash-rich PSG from being linked with a move for the player. Louis van Gaal still expects Angel di Maria to join Manchester United’s tour of the United States on Saturday despite reports the £59.7million midfielder is closing in on a transfer to Paris St Germain. As well as Di Maria, Marcos Rojo and Javier Hernandez are also expected to join the squad on Saturday, when United play their third tour match – against Barcelona at the Levi’s Stadium in California. The trio are not expected to play in the match against Barcelona but will be available for United’s last match – against PSG – which could prove interesting if Van Gaal selects Di Maria. Barcelona’s Pedro is in the frame as a potential new recruit if Van Gaal decides to cut his losses on Di Maria. The Dutchman had hinted he was ready to sign a “surprise” striker at the weekend. But Van Gaal had changed his tune somewhat after United had beaten San Jose Earthquakes 3-1. “I don’t know if I want to buy a striker,” Van Gaal said. “I have read in the media that the striker is a surprise. No. That is not what I said. You are saying that. No. I mean something else.” Memphis Depay scored his first goal for United while Juan Mata and Andreas Pereira also found the net in San Jose, but Van Gaal was not a happy man after the final whistle. “The first half, I was satisfied,” said Van Gaal, who made 10 changes at half-time. “But the second half I think we played very badly. A lot of unnecessary ball losses. The only highlight was the goal from Pereira.” Midfielder Bastian Schweinsteiger was singled out for criticism. “He was also bad,” Van Gaal said of the £15million signing. “The one highlight was Pereira.” Goalkeeper David de Gea, who sat out the first game in Seattle against Club America, did not play against San Jose. The Real Madrid target warmed up prior to the match, but he did not come off the bench at half-time and Sam Johnstone remained in goal for the whole 90 minutes.. Van Gaal hopes the Spaniard will be fit to play against Barcelona in Santa Clara this weekend. “I have good hope that he can play against Barcelona,” Van Gaal said. “He was still injured. Anders Lindegaard was also injured. It was difficult, so I said, ‘Go stand in the goal so we had a point of direction for my attackers, but don’t do anything to risk your injury more’. “I hope that he can play on Saturday. I think he can play on Saturday.” Di Maria failed to impress at United last season following his record move to Old Trafford from Real Madrid. The 27-year-old spent a large chunk of the second half of the season on the bench at United and he has subsequently been linked with a big-money move to PSG.
This year’s draft was originally set to undergo some serious changes, the primary change heading from MLB Network Studios in Secaucus, N.J. to Omaha, Neb., just a few days before the start of the College World Series. MORE MLB DRAFT 2020:Mock draft | Slot values | Pool money by teamUnfortunately, the coronavirus pandemic drastically altered plans for the 2020 and 2021 drafts . This year, the amount of rounds in the draft have been slashed from 40 to just five, with next year’s installment featuring just 20 rounds total. Between the coronavirus and the hacking of some minor league teams, This year, Arizona State’s Spencer Torkelson is went No. 1 overall to the Tigers, with Heston Kjerstad going No. 2 as a shocker to the Orioles. Max Meyer rounded out the top three. The Show must go on.Not a single inning of professional baseball has yet to be played in 2020, and who knows when first pitch for the 2020 season might come. That doesn’t mean, though, that the 2020 MLB Draft is on hold. Sporting News tracked every pick from the 2020 MLB Draft draft below.JUMP TO ROUND: 1 | 2 | 3 | 4 | 5MLB Draft tracker 2020: Live picks, results from Rounds 1-5 Round 1 resultsPickTeamPlayerPositionSchool1.Detroit TigersSpencer Torkelson3BArizona State2.Baltimore OriolesHeston KjerstadOFArkansas3.Miami MarlinsMax MeyerRHPMinnesota4.Kansas City RoyalsAsa LacyLHPTexas A&M5.Toronto Blue JaysAustin MartinSSVanderbilt6.Seattle MarinersEmerson HancockRHPGeorgia7.Pittsburgh PiratesNick GonzalesSSNew Mexico State8.San Diego PadresRobert Hassell IIIOFIndependence High School (Tennessee)9.Colorado RockiesZac VeenOF Spruce Creek High School (Florida)10.Los Angeles AngelsReid DetmersLHPLouisville11.Chicago White SoxGarrett CrotchetLHPTennessee12.Cincinnati RedsAustin HendrickOFWest Allegheny High School (Pennsylvania)13.San Francisco GiantsPatrick BaileyCNC State14.Texas RangersJustin Foscue2BMississippi State15.Philadelphia PhilliesMick AbelRHPJesuit High School (Oregon)16.Chicago CubsEd HowardSSMount Carmel High School (Illinois)17.Boston Red SoxNick Yorke2BArchbishop Mitty High School (California)18.Arizona DiamondbacksJarvis BryceRHPDuke19.New York MetsPete Crow-ArmstrongOFHarvard-Westlake School (California)20.Milwaukee BrewersGarrett MitchellOFUCLA21.St. Louis CardinalsJordan Walker3BDecatur High School (Georgia)22.Washington NationalsCade CavalliRHPOklahoma23.Cleveland IndiansCarson TuckerSSMountain Pointe High School (Arizona)24.Tampa Bay RaysNick BitskoRHPCentral Bucks High School East (Pennsylvania)25.Atlanta BravesJared ShusterLHPWake Forest26.Oakland A’sTyler SoderstromCTurlock High School (California)27.Minnesota TwinsAaron Sabato1BUNC28.New York YankeesAustin WellsCArizona29.Los Angeles DodgersBobby MillerRHPLouisvilleCompetitive Balance Round APickTeamPlayerPositionSchool30.Baltimore OriolesJordan WestburgSSMississippi State31.Pittsburgh PiratesCarmen MlodzinskiRHPSouth Carolina32.Kansas City RoyalsNick LoftinSSBaylor33.Arizona DiamondbacksSlade CecconiRHPMiami34.San Diego PadresJustin LangeRHPLlano High School (Texas)35.Colorado RockiesDrew RomoCThe Woodlands High School (Texas)36.Cleveland IndiansTanner BurnsRHPAuburn37.Tampa Bay Rays (via St. Louis)Alika WilliamsSSArizona State Round 2 resultsRounds 2-5 of the 2020 MLB Draft take place on Thursday, June 11.PickTeamPlayerPositionSchool38.Detroit TigersDillon DinglerCOhio State39.Baltimore OriolesHudson HaskinOFTulane40.Miami MarlinsDaxton FultonLHPMustang High School (Oklahoma)41.Kansas City RoyalsBen HernandezRHPDe La Salle Institute (Illinois)42.Toronto Blue JaysCJ Van EykRHPFlorida State43.Seattle MarinersZach DeLoachOFTexas A&M44.Pittsburgh PiratesJared JonesRHPLa Miranda High School (California)45.San Diego PadresOwen CaissieOFNotre Dame Catholic (Ontario)46.Colorado RockiesChris McMahonRHPMiami47.Chicago White SoxJared KelleyRHPRefugio High School (Texas)48.Cincinnati RedsChristian RoaRHPTexas A&M49.San Francisco GiantsCasey Schmitt3BSan Diego State50.Texas RangersEvan CarterOFElizabethton High School (Tennessee)51.Chicago CubsBurl CarrawayLHPDallas Baptist (Texas)52.New York MetsJ.T. GinnRHPMississippi State53.Milwaukee BrewersFreddy ZamoraSSMiami54.St. Louis CardinalsMasyn WinnSSKingwood High School (Texas)55.Washington NationalsCole HenryRHPLSU56.Cleveland IndiansLogan AllenLHPFIU57.Tampa Bay RaysIan SeymourLHPVirginia Tech58.Oakland A’sJeff CriswellRHPMichigan59.Minnesota TwinsAlerick SoularieOFTennessee60.Los Angeles DodgersLandon KnackRHPEast Tennessee StateCompetitive Balance Round BPickTeamPlayerPositionSchool61.Miami MarlinsKyle NicolasRHPBall State62.Detroit TigersDanny CabreraOFLSU63.St. Louis CardinalsTink HenceRHPWatson Chapel High School (Arkansas)64.Seattle MarinersConnor PhillipsRHPMcLennan CC (Texas)65.Cincinnati RedsJackson MillerCJ.W. Mitchell High School (Florida)66.Los Angeles DodgersClayton BeeterRHPTexas TechFree-agent compensatory picksPickTeamPlayerPositionSchool67.San Francisco GiantsNick SwineyLHPNC State68.San Francisco GiantsJimmy GlowenkeSSDallas Baptist69.New York MetsIsaiah GreeneOFCorona Senior High School (California)70.St. Louis CardinalsAlec Burleson1BECU71.Washington NationalsSammy InfanteSSMonsignor Edward Pace High School72.Houston AstrosAlex SantosRHPMt. Saint Michael Academy (New York) Round 3 resultsPickTeamPlayerPositionSchool73.Detroit TigersTrei CruzSSRice74.Baltimore OriolesAnthony ServideoSSOle Miss75.Miami MarlinsZach McCambleyRHPCoastal Carolina76.Kansas City RoyalsTyler GentryOFAlabama77.Toronto Blue JaysTrent PalmerRHPJacksonville University78.Seattle MarinersKaden Polcovich2BOklahoma State79.Pittsburgh PiratesNick GarciaRHPChapman University80.San Diego PadresCole WilcoxRHPGeorgia81.Colorado RockiesSam WeatherlyLHPClemson82.Los Angeles AngelsDavid CalabreseOFSt. Elizabeth Catholic High School (Ontario)83.Chicago White SoxAdisyn CoffeyRHPWabash Valley College84.Cincinnati RedsBryce BonninRHPTexas Tech85.San Francisco GiantsKyle HarrisonLHPDe La Salle High School (California)86.Texas RangersTekoah RobyRHPPine Forest High School (Florida)87.Philadelphia PhilliesCasey MartinSSArkansas88.Chicago CubsJordan NwoguOFMichigan89.Boston Red SoxBlaze Jordan3BDeSoto Central High School (Mississippi)90.Arizona DiamondbacksLiam NorrisLHPGreen Hope High School (North Carolina)91.New York MetsAnthony WaltersSSSan Diego State92.Milwaukee BrewersZavier WarrenCCentral Michigan93.St. Louis CardinalsLevi PraterLHPOklahoma94.Washington NationalsHolden PowellRHPUCLA95.Cleveland IndiansPetey HalpinOFMira Costa High School (California)96.Tampa Bay RaysHunter BarnhartRHPSt. Joseph High School (California)97.Atlanta BravesJesse Franklin VOFMichigan98.Oakland AthleticsMichael GuldbergOFGeorgia Tech99.New York YankeesTrevor HauverLFArizona State100.Los Angeles DodgersJake VogelOFHuntington Beach High School (California)101.Houston AstrosTyler BrownRHPVanderbilt Round 4 resultsPickTeamPlayerPositionSchool102.Detroit TigersGage Workman3BArizona State103.Baltimore OriolesCoby Mayo3BStoneman Douglas High School (Florida)104.Miami MarlinsJake EderLHPVanderbilt105.Kansas City RoyalsChristian ChamberlainLHPOregon State106.Toronto Blue JaysNick FrassoRHPLoyola Marymount University107.Seattle MarinersTyler Keenan3BOle Miss108.Pittsburgh PiratesJack HartmanRHPAppalachian State109.San Diego PadresLevi ThomasRHPTroy110.Colorado RockiesCase WilliamsRHPDouglas County High School (Colorado)111.Los Angeles AngelsWerner BlakelySSDetroit Edison High School (Michigan)112.Chicago White SoxKade MechalsRHPGrand Canyon University113.Cincinnati RedsMac WainwrightOFSt. Edwards High School (Ohio)114.San Francisco GiantsRJ DabovichRHPArizona State115.Texas RangersDylan MacLeanLHPCentral Catholic High School116.Philadelphia PhilliesCarson RagsdaleRHPUSF117.Chicago CubsLuke LittleLHPSan Jacinto College North (Texas)118.Boston Red SoxJeremy Wu-YellandLHPHawaii119.Arizona DiamondbacksAJ Vukovich3BEast Troy High School (Wisconsin)120.New York MetsMatthew DyerCArizona121.Milwaukee BrewersJoey WiemerOFCincinnati122.St. Louis CardinalsIan BedellRHPMissouri123.Washington NationalsBrady LindslyCOklahoma124.Cleveland IndiansMilan TolentinoSSSanta Margarita High School (California)125.Tampa Bay RaysTanner MurraySSUC Davis126.Atlanta BravesSpencer StriderRHPClemson127.Oakland AthleticsDane AckherRHPOklahoma128.Minnesota TwinsMarco RayaRHPUnited South High School (Texas)129.New York YankeesBeck WayRHPNorthwest Florida State130.Los Angeles DodgersCarson TaylorCVirginia Tech131.Houston AstrosZach DanielsOFTennessee Round 5 resultsPickTeamPlayerPositionSchool132.Detroit TigersKeith Colt3BBiloxi High School (Mississippi)133.Baltimore OriolesCarter BaumlerRHPDowling Catholic High School (Iowa)134.Miami MarlinsKyle HurtRHPUSC135.Kansas City RoyalsWill KleinRHPEastern Illinois136.Toronto Blue JaysZach BrittonOFLouisville137.Seattle MarinersTaylor DollardRHPCal Poly138.Pittsburgh PiratesLogan HofmannRHPNorthwestern State139.San Diego PadresJagger HaynesLHPWest Columbus High School (North Carolina)140.Colorado RockiesJack BlomgrenSSMichigan141.Los Angeles AngelsAdam SeminarisLHPLong Beach State142.Chicago White SoxBailey HornLHPAuburn143.Cincinnati RedsJoe BoyleRHPNotre Dame144.San Francisco GiantsRyan MurphyCLe Moyne College145.Texas RangersThomas SaggeseSSCarlsbad High School (California)146.Philadelphia PhilliesBaron RadcliffOFGeorgia Tech147.Chicago CubsKoen MorenoRHPPanther Creek High School (RHP)148.Boston Red SoxShane DrohanLHPFlorida State149.Arizona DiamondbacksBrandon PfaadtRHPBellarmine University150.New York MetsEric OrzeRHPUniversity of New Orleans151.Milwaukee BrewersHayden CantrelleSSUniversity of Louisiana at Lafayette152.St. Louis CardinalsLJ Jones IVOFLong Beach State153.Washington NationalsMitchell ParkerLHPSan Jacinto College North154.Cleveland IndiansMason HickmanRHPVanderbilt155.Tampa Bay RaysJeff HakansonRHPCentral Florida156.Atlanta BravesBryce ElderRHPTexas157.Oakland AthleticsStevie EmanuelsRHPWashington158.Minnesota TwinsKala’i RosarioOFWaiakea High School (Hawaii)159.Los Angeles DodgersGavin StoneRHPCentral Arkansas160.Houston AstrosShay WhitcombRHPUC San Diego