Monthly Archives: March 2012
Arcapita Bankruptcy Was Forced by Hedge Funds, Lawyer Says
BusinessWeek – Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, was forced into bankruptcy by hedge funds that sought to be repaid in full, a lawyer for Arcapita said. Restructuring talks on the company’s $1.1 […]
Investor hedge fund claims cost Citigroup $85M and counting
USA Today – Citigroup’s tab for reimbursing clients who said the financial giant misled them into investing in risky hedge funds marketed as the safety equivalent of municipal bonds has soared to at least $85 million. And counting. The payments, awarded […]
The Highest-Earning Hedge Fund Managers Are Struggling To Beat The Market Rally
Forbes – Albert Friedberg is a little-known commodities trader who manages $2 billion in Toronto. Last year, during one of the worst 12-month stretches in the history of the hedge fund industry, Friedberg outperformed just about every big shot trader […]
Buffett’s S&P 500 bet gains ground on hedge funds
Bloomberg – Billionaire Warren Buffett’s chances of winning a bet that the S&P 500 stock index will outperform a collection of hedge funds are improving, but Buffett still trails the money managers four years into the 10-year bet. Buffett has […]
Convicted Fund Manager Ordered to Pay Morgan Stanley $10.2 Million
NYT – A federal judge has ordered Joseph F. Skowron, the onetime star hedge fund manager serving jail time for insider trading, to pay $10.2 million to his former employer Morgan Stanley. In a ruling late Tuesday, Judge Denise L. Cote of Federal […]
Investor hedge fund claims cost Citigroup $85M and counting
USA Today – Citigroup’s tab for reimbursing clients who said the financial giant misled them into investing in risky hedge funds marketed as the safety equivalent of municipal bonds has soared to at least $85 million. The payments, awarded since […]
Goldman Sachs Trader Raj Sethi Said to Quit, May Join Hedge Fund
Bloomberg – Raj Sethi, a managing director in Goldman Sachs Group Inc. (GS)’s commodity-derivatives trading group, quit after 14 years and may join a hedge fund, according to a person with knowledge of the matter. Sethi, 35, who once ran […]
The Highest-Earning Hedge Fund Managers Are Struggling To Beat The Market Rally
Forbes – Albert Friedberg is a little-known commodities trader who manages $2 billion in Toronto. Last year, during one of the worst 12-month stretches in the history of the hedge fund industry, Friedberg outperformed just about every big shot trader […]
Buffett gains ground in hedge fund bet
CNN – Four years into a 10-year wager that the S&P 500 index will return more than a selection of hedge funds, Warren Buffett has almost caught up with his competition. Results are in for 2011, the fourth year of […]
Hedge fund wants four seats on Yahoo board?
AP – One of Yahoo’s major investors is urging shareholders to vote its four nominees on to the company’s board, launching a potentially nasty fight to transform its direction. Hedge fund Third Point, which has a 5.8% stake in Yahoo (YHOO), […]
March 2012 Eurekahedge Report: Hedge Funds up by more than $40 billion
New York (HedgeCo.net) – The Eurekahedge Hedge Fund Index gained 2.05% in February as optimism about the European debt situation and strengthening global economy fuelled rallies in the underlying markets. The MSCI World Index increased 4.55% as investor sentiment remained […]
Exclusive: The Secret Madoff Prison Letters
Forbes – Bernie Madoff hated e-mail. He rarely used it at his high-tech Wall Street trading firm. When others did, he fretted about the trail it left behind. He wasn’t crazy about letters, either. A staffer had standing orders to […]