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China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

March 2007

The dark art of hedge fund valuations


It’s best for investors to be cautious and not leap aboard a fad bandwagon.


Fortress has undertaken an IPO of its management company, Citadel has launched a bond and a growing number of hedge funds and alternative investment managers are listing funds in order to raise assets under management – next up is Brevan Howard.

Are investors in these securities getting a good deal? Given the relative newness of alternatives houses raising long-term capital, making valuations is more of a stab in...


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