Hedge Funds

 

The tremendous success of Alfred Jones's hedge fund during the 1960s (when his fund was outperforming even the best mutual funds despite a 20% fee deduction) meant that by 1968 around 200 hedge funds were in operation. Following modest growth during the 1970s and 1980s, the 1990s saw the growth of hedge funds even outstripping that of the US equity market.

Exact figures on the size of the industry today are difficult to decipher as funds face very few disclosure requirements. Estimates of the size of the industry vary. However, the general consensus is that there are in excess of 3,000 hedge funds in operation managing over USD 500 billion in capital. Some estimates have put the figure in excess of 5,000 funds for the whole industry.

It is worth, however, putting the size of the hedge fund industry into context; the total market capitalization of the US equity market was in the region of USD 16 trillion by the end of the year 2000.

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Psychology

 

The Big Five personality traits

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Leadership & Management

 

Situational Leadership:

Readiness type & leadership style:

Readiness Type	Leadership Style	Description of Leadership Style
R1 – Low competence, low commitment	S1 - Directing	Leadership style 1, directing, is high task-oriented and low relationship-oriented leadership. It is used when followers are at the lowest readiness level, R1, and so they are unable, unwilling, or at least insecure about performing the task. To apply this style, leaders make the decisions, provide lots of direction, clearly communicate expectations, clarify roles, explain how to improve, and monitor performance closely. Communication with this style is largely a one-way street and task specific. Support behavior is avoided, as it might just encourage the follower’s unwillingness.
R2 – Low competence, high commitment	S2 - Coaching	Leadership style 2, coaching, is high task-oriented and high relationship-oriented leadership. If the employee is at the matching readiness level, R2, he/she is still not capable of performing the task, but is willing. At this level, leaders must continue to make decisions, communicate expectations, and direct behavior, but also engage in two-way communication, working closely with the employee and seeking their ideas and suggestions as to what is needed for success. Style 2 leadership guides the work being done and reinforces the follower’s willingness to do it.
R3 – High competence, low commitment	S3 - Supporting	Leadership style 3, supporting, involves low amounts of task-oriented and high amounts of relationship-oriented behavior. At readiness level R3, the follower can do the task but requires support as she begins to work more independently. At this point, minimal direction is needed and too much direction may be perceived as interfering with the worker or even as insulting to him/her. Support is what is needed at this level to build follower confidence. Day-to-day decisions should, wherever possible, be delegated to the follower, with the leader taking part and then facilitating.
R4 – High competence, high commitment	S4 - Delegating	If the employee is at the highest readiness level, R4, it is appropriate to apply leadership style 4, delegating. At this level, control shifts from the leader to the follower and amounts of both task- and relationship-oriented behavior are low. The leader is still involved in decision making and problem solving, but the follower chooses when and how the leader will be involved. Followers at this level are both capable of doing the task and committed to doing it, so low amounts of both types of behavior, direction and support, are what’s needed. Leaders should not step away completely, just for the most part.

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Culture

 

Diversity is a specialized term describing a workplace that includes people from various backgrounds and cultures, and/or diverse businesses.

You can find a strategic competitive advantage in an organizational and cultural context by seeking to leverage, rather than diminish, opposite forces.

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Portugal

 

Museum of Costume #lisbon #portugal

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Portugal

Portugal

 

Quinta das Conchas, #lisbon #portugal

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