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Introduction

Hedge.lu is a resource website aimed at providing relevant finance cases & academic articles to professionals, academics, and students. Using the insights provided by past finance cases and key academic articles is a great strength that may enable one to win an argument about a financial topic, make a convincing case about a strategy, or enrich a finance training with captivating examples.

The name "Hedge.lu" comes from two independent reasons and motives: the first one is that this domain was unused, whereas it looks and sounds great. The other half of the explanation is that most of the finance cases which have had a large impact on how we run a firm today from a financial standpoint involved huge failures in hedging programs. That makes Hedge.lu the perfect place to talk about such things!

Find out more in the About page.

Finance Cases

Title Firm Involved Year Keywords
When a lack of hedging leads to ruin Slite 1992 SEK, DEM, Currency, Hedging
Disguised speculation American Barrick 1993 Hedging, Derivatives, Oil
Matching cash flows and the importance of accounting Metallgesellschaft 1993 Hedging, Derivatives, Oil
The appropriateness of hedging instruments PacifiCorp 1997 Hedging, Currency, Forwards, Options
The dangers of leverage LTCM 1998 Convergence, Crisis, Volatility, Hedge fund
The costs of a flawed hedging program Ashanti Goldfield 1999 Hedging, Gold, Speculation
When hedging becomes speculation Air Products and Chemicals 2000 Hedging, Currency, Forwards, Options
M&A integration and CEO hubris Worldcom 2002 M&A, Synergies, Integration, Governance
When price deviation never corrects Amaranth Advisors 2006 Futures, Calendar arbitrage, Natural gas
How not to insider trade Millenium 2008 Options, Insider trading
Picking pennies in front of a steamroller AIG 2008 CDS, Subprimes, Crisis, Bailout, insurance
The importance of getting dividends right Virtu Financial 2014 Corporate actions, Dividends, Accounting, HFT
Listing a Chinese business in the US Alibaba 2014 Listing, IPO, China, Foreign entities, Governance
How short-sellers cleanse financial markets Gowex 2014 Short Selling, Accounting Fraud
The impact of cultural heritage on governance Toshiba 2015 Corporate governance, Top-down pressure, Accounting, Scandal
Creating value by splitting businesses Paypal 2015 Spinoff, Activist investor
Dividend tax arbitrage Commerzbank 2016 dividends, Tax, Arbitrage, Securities lending
The reach of US law & Bond covenants Elliott Capital Management 2016 Pari passu, Bonds, Argentina, Hedge funds, Covenants
HFT Thrive off complexity IEX 2016 Stock Exchange, Speed bump, Market structure, HFT
The Economic rationale behind spinoffs Yahoo 2016 Spinoff, Investment, Participation
Broker prices are unreliable Saba Capital Management 2017 Broker prices, Fair value, IFRS 13, Corporate bonds
The dangers of inappropriate goal setting Wells Fargo 2017 Corporate governance, Goal setting, Incentives

Finance Articles

Title Authors Publication Year Keywords
The dog and the frisbee Haldane, Madouros 2012 Finance theory, Regulation, Complexity
Do Private Equity Funds Manipulate Reported Returns? Brown, Gredil, Kaplan 2016 Private Equity, Window dressing, Reporting
Cloaked Trading Cohen, Lau, Malloy 2016 Asset Management, Window dressing, Reporting
Fake Alpha Müller, Rosenberger, Uhrig-Homburg 2017 Active management, Alpha, Managerial skill, Factor investing
Replicating Anomalies Hou, Xue, Zhang 2017 Market Efficiency, Market Anomalies, Arbitrage
When learners escape models of their behavior Whitmore 2017 Regulation, Modelling, Risk management