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30 Sep 2009

Bookstaber To Speak At HedgeWorld As The Number of Hedge Funds Rise

Hedge fund manager Richard Bookstaber will be speaking at is year's HedgeWorld Fall Conference. He is the author of “A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation,” a book that pinpointed the market weaknesses that spun out of control to create today's financial crisis.

“A Demon of Our Own Design” ranked number one on Amazon in finance and was selected as a finalist for the prestigious Loeb Award. Bookstaber was named to this year's Conde Nast Portfolio list of top 25 technical innovators, joining the ranks of Steve Jobs, Jeff Bezos, Jeffrey Katzenberg and Eric Schmidt.

He has testified before the House and Senate, calling for greater transparency and improved regulation for Wall Street long before it was fashionable. BOOKSTABER recently worked at Bridgewater Associates, the world's largest hedge fund, and before that ran the Quantitative Equity Fund at FrontPoint Partners.

He was in charge of risk management at Moore Capital Management, another hedge fund with over $10 billion in assets. He served as the managing director in charge of firm-wide risk management at Salomon Brothers and was a member of Salomon's powerful Risk Management Committee. Bookstaber also spent ten years at Morgan Stanley, first designing and marketing derivative instruments, then as a proprietary trader, and concluding his tenure there as Morgan Stanley's first market risk manager. In addition to A Demon of Our Own Design (Wiley, 2007), he is the author of three other books and scores of articles on finance topics ranging from option theory to risk management. He has won the Graham and Dodd Scroll from the Financial Analysts Federation and the Roger F. Murray Award from the Institute for Quantitative Research in Finance for his research. Bookstaber has a Ph.D in Economics from M.I.T.

The conference is being held at the Metropolitan Club in New York on October 6th, 2009.

BNY Mellon/Dreyfus Launch Two Fund of Funds

The Dreyfus Corporation, part of BNY Mellon Asset Management, announced the introduction of the Dreyfus Satellite Alpha Fund and the Dreyfus Diversified Global Fund.

"Many individual investors are seeking a professionally managed solution that enables them to invest in non-traditional asset classes that have low correlations to traditional asset classes, especially in the wake of the recent financial crisis," said Phil Maisano, Vice Chairman and Chief Investment Officer for Dreyfus and Chief Investment Strategist for BNY Mellon Asset Management. "Dreyfus Satellite Alpha has been constructed within a 1940-Act platform to provide exposure to non-traditional asset classes such as commodities, currencies and real estate in addition to inflation-protected securities and global stocks and bonds.

"Dreyfus Diversified Global fund is distinctive among global funds; the underlying funds are managed by an array of BNY Mellon Asset Management affiliates with different points of view and investment philosophies which differentiate this fund from other global funds that only deliver a single viewpoint," Maisano said.

The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one a leading asset management and distribution company, currently managing more than $400 billion in mutual funds and separately managed accounts.

BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.