It would be interesting if we could take the Goldman Sachs research piece titled “Who Moved My Beta? Re-visiting BOJ ETF Purchase Impact” and have delivered it to market participants a decade earlier. Economists, fund managers and traders – those in this group who generally believed free markets were a key component of price discovery and fair value economic determination – would likely scratch their heads as Goldman’s Asian quantitative analysts discuss the Japanese Central Bank stock purchasing strategy in a fashion similar to that of a hedge fund rotating from one stock category to the next. As Japanese…
Goldman: Japanese Central Bank Causing Beta To Rise
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.