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 "identifier": "kaal:entity:trading-strategies",
 "name": "Trading strategies",
 "termCode": "trading-strategies",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1806252-010",
   "identifier": "kaal:claim:1806252-010",
   "text": "Because hedge fund trading strategies depend on confidentiality, required disclosures that let other market participants trade along or anticipate a fund's transactions can negatively affect the fund's absolute returns.",
   "abstract": "If other market participants trade along or are enabled to anticipate certain transactions by a hedge fund because of required disclosures, the disclosing hedge fund may not be able to fulfill its mandate to maximize shareholders' value",
   "citation": "Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252",
   "datePublished": "2011",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "strategies rely on interpreting market environments not yet priced in by others"
   ],
   "source_pdf_sha256": "3343ebfe05a925c3d1a75625c4b351ccff515c50819a48d155804daacf01429d",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-008",
   "identifier": "kaal:claim:2998097-008",
   "text": "Fund managers are unlikely to escape bank based indirect supervision by terminating a lending relationship, because their dynamic trading strategies depend on the immediate availability of capital and lending relationships now face increased scrutiny.",
   "abstract": "However, because private investment funds' dynamic trading strategies often depend on the immediate availability of capital, and given today's banking environment with increased scrutiny over lending and lending relationships, managers are unlikely to terminate a lending relationship.45",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "contemporary banking environment with heightened lending scrutiny",
    "funds running dynamic trading strategies"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3405660-024",
   "identifier": "kaal:claim:3405660-024",
   "text": "Any risk assessment of hedge funds as counterparties is necessarily incomplete, because there is no common measure for calculating leverage and exposure and because fund trading strategies are dynamic.",
   "abstract": "The absence of a common measure with which to calculate leverage and exposure and the dynamic nature of hedge funds ́ trading strategies is just one example that shows the incomplete nature of any risk assessment of hedge funds as counterparties.",
   "citation": "Kaal, Indirect Regulation of Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405660",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
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   "source_pdf_sha256": "cf507b1833071765bc13a5605f38c2591582eca85f40869e38b6ff075c04d29d",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-020",
   "identifier": "kaal:claim:3936876-020",
   "text": "Cold storage trades security for accessibility: retrieving digital assets from cold storage can take many hours or even days, which makes cold storage especially ill suited to dynamic trading strategies.",
   "abstract": "In some cases, it can take many hours or even days for investors to obtain control of digital assets that are stored in cold storage devices. The timing makes it especially difficult to use cold storage security for dynamic trading strategies.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "assets held in cold storage devices",
    "matters most for actively traded positions"
   ],
   "source_pdf_sha256": "9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55",
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  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'trading-strategies'. Derived node: a roster, not an adjudicated definition."
}