The researchers attributed an even bigger impact to a practice known as opposite trading, which occurs when funds within a family take the opposite sides of trades.
As a result, opposite trading had the effect of transferring some of the returns of out-of-favor funds to their favored brethren.
This difference is predominantly caused by different ways of accounting for derivatives; to simplify things, GAAP allows a bank to net its positions against each other (if I have a $100 trade with one counterparty and an opposite $100 trade with another counterparty, that counts as zero assets and zero liabilities), while IFRS doesn't.
Budget constraints are pushing Congress in the opposite direction: trade-adjustment assistance, a long-standing scheme to help those deemed to have lost their jobs to globalisation, expired recently.
Real men, however, seem to want the opposite: to trade in the Stepfordesque supermoms their wives have become for the calmer, cooler, more emotionally present women they once knew.
Kona winds, however, are the complete opposite of trade winds.
The yield on the benchmark 10-year Treasury note, which trades opposite its price, dipped to 3.89percentt from 3.90percentt Wednesday.
For instance, the Goldman hearing led the authors of the Dodd-Frank financial reform law to include language intended to prevent investment banks from hiding that they were on the opposite side of trades being pushed on their clients.
In addition, that study found, a family's poorer-performing funds will sometimes take the opposite side of trades undertaken by the family's star funds; this has the effect of transferring performance to those stars.
It is quite amazing that a treaty like the TPP can still be promoted as a "free trade" agreement when its most economically important provisions are the exact opposite of "free trade" – the expansion of protectionism.
