short rebate
3 statements across 3 episodes · 0 bullish · 1 bearish · 3 people on the record · first statement Jan 27, 2020 by Ted Seides · across every show →
Everything said about short rebate, oldest first
Jan 27, 2020 bearish
Seides: Near-zero interest rates cost long/short hedge funds 3% to 4% annually
“So when the bet started short-term rates were maybe, I don't remember what it was, but four percent, and today they're close to zero, and that is a four percent
Maybe three percent annual difference in performance just because of the short rebate on, on the wa…”
Apr 12, 2021
Liow: Post-GFC short rebate collapse raised required break-even alpha to 800 bps
“At 500 basis points, you needed about three to 400 basis points of alpha to break even through cycle. That lets you lever for long short spread through cycle. Now it's closer to 800 basis points. That's a very heavy lift to break even.”