Author Archives: the HedgeCo News Team
Morgan Stanley, Goldman change lending systems
Boston Globe – Morgan Stanley and Goldman Sachs are responding to the credit crisis with a system that uses the market’s view of their own creditworthiness as a basis for lending decisions, the Financial Times reported. Wall Street’s second-largest investment […]
CEOs Launch Web Site To Protect Short Sellers
Washington Post – When the Securities and Exchange Commission issued an emergency order last month protecting the stocks of the country’s largest financial institutions against a form of short selling, three businessmen saw an opportunity. Harvey Pitt, SEC chairman from […]
Miami Hedge Fund Swindler Sentenced
New York (HedgeCo.Net) – Hedge fund fraudster Salman Shariff has been sentenced to 57 months behind bars, years after swindling millions from trusting investors. The Miami-based funds raked in almost $11 million from 1998 to 2001, while Shariff afforded himself […]
Christofferson Robb hedge fund to sell Thanet windfarm in Kent
Times Online – The Christofferson Robb hedge fund is in talks to sell one of Britain’s largest proposed offshore wind farms less than a year after it bought the project. Utilities and financial buyers have bid for the £800m Thanet […]
Soros hedge fund bought Petrobras stake worth $811 million
West Palm Beach – Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding. As of June 30, the stake in Petrobras, […]
T. Boone Pickens Trades Oil With Both McCain & Obama
24/7 Wall St. – On Sunday, T. Boone Pickens issued a press release stating that he had met with Senator Obama in Reno, Nevada to discuss his energy plans. This follows the statement he issued Friday stating that he had […]
Harbinger to raise stake in Cleveland-Cliffs
Reuters – Hedge fund Harbinger Capital Partners said on Thursday it is seeking approval from Cleveland Cliff’s shareholders to boost its ownership stake to as much as a third of the iron-ore company. Harbinger — already Cleveland-Cliffs’ largest shareholder — […]
Ospraie hedge fund loses $1bn on misplaced commodities bets
Ospraie Management, the US hedge fund led by Dwight Anderson, has seen about $1bn (€678m) in value being wiped out of Ospraie Fund, its biggest, over the last 12 months amid misplaced bets on commodities, according to a report in […]
Turnberry Hedge Fund to Liquidate
New York (HedgeCo.Net) – Turnberry Capital Management LP has decided to close its doors and liquidate its assets, after many investors inquired about getting their money back. The hedge fund, which specializes in purchasing distressed debt, once held approximately $800 […]
Hedge funds thrive on downturns says report
Hedge Funds Review Magazine – Hedge funds generally are more correlated in bull market runs and more de-correlation at market downturns. A comparison of the Credit Suisse/Tremont Broad Benchmark Index (HEDG), an asset-weighted broad benchmark of the hedge fund industry, […]
Hedge Fund Correlation Research Report by Credit Suisse
West Palm Beach (HedgeCo.net) – Hedge funds generally are more correlated in bull market runs and more de-correlation at market downturns. A comparison of the Credit Suisse/Tremont Broad Benchmark Index (HEDG), an asset-weighted broad benchmark of the hedge fund industry, […]