3. Among the gargantuan hedge funds that make up a majority of the industry’s assets under management, dispersion of returns shot up to notable levels. And for every big winner, like William Ackman’s Pershing Square, there was a big loser to counterbalance it, like John Paulson’s Advantage Fund. Investors choose hedge funds for their “non-correlated returns,” meaning a tendency to move opposite from the general market’s direction. They certainly got such returns this year, unfortunately.
5. Separate temperature measurements taken from satellites do not show 2014 as a record year, although it is close. Several scientists said the satellite readings reflected temperatures in the atmosphere, not at the earth’s surface, so it was not surprising that they would differ slightly from the ground and ocean-surface measurements that showed record warmth.
6. In the meantime, here’s a fun song that’s been written by one of my readers, Libby Russell that all football widows will identify with. Enjoy! Thank you for sharing, Libby. It’s brilliant!