Thanks tk243...

you don't have to wonder b/c this is a case study for a working paper. I wish you had shared your knowledge here, instead of making unnecessary remarks.

<t>I am a Hedge fund professional asked to give a presentation on multi factor style analysis, i.e. extracting the common underlying risk inherent in hedge fund strategies. I would like to use Fung and Hsieh's 7 factor ABS model and include optimal smoothing,but do not have the mathematical ability ...

I know it's a fairly simple calculation but I am asking anyway because I couldn't come up with meaningful results...how do you calculate the 30 day rolling volatility of the daily changes in the HY credit spreads. Thanks a lot!

Efalken nice pictures! What do you all think about Pipes (Reg D) investment? Pipes seem to have come out of their murky past and especially the conservative ones (mark the warrants at zero) seem to be doing well. Thanks.

What about emerging markets and getting exposure to commodities through them? When would you expect a spike in volatility in emerging markets?

Which HF Strategies do your think are likely to make money for the rest of the year? There are some encouraging signs in convertible space. What is your view? Thanks.

All I know about MS is that their hiring process takes a while.