Author Archives: the HedgeCo News Team
The Aftermath – Bear Stearns’ Biggest Losers
West Palm Beach (HedgeCo.Net) – It took merely minutes for one of the biggest collapses in Wall Street history to unfold. Bear Stearns, who was rocked by the subprime mortgage crisis and the resulting $3 billion in write-offs that followed, […]
Thousands Face Redundancy as Bear Stearns’ New Owners Look for Cuts
Times Online – Department heads from JPMorgan Chase yesterday began redundancy talks with their counterparts at Bear Stearns after securing a rescue deal late on Sunday evening to buy the bank for 6 per cent of its value last week. […]
NE Chapter of Hedge Fund Association to Present Emerging Marketplaces
Boston – March 18, 2008 – The Hedge Fund Association is pleased to present Emerging Marketplaces with speakers Kirk Inglis, the CFO of Prosper and Justin A. Brownhill, the Co-founder and CEO of The Receivables Exchange. Generously sponsored by Fidelity […]
Hedge Funds, Once a Windfall, Contribute to Bear’s Downfall
Wall Street Journal- The hedge-fund business came back to haunt Bear Stearns last week, however, as a wave of nervous funds pulled their accounts, helping to put the brokerage firm in a precarious position. The moves, which came even though […]
Touradji Says Commodity ‘Buying Orgy’ Increases Risks
Bloomberg- Paul Touradji, founder of the $3.5 billion hedge fund Touradji Capital Management LP, told clients a “buying orgy” in commodities had inflated prices and increased risks of a collapse. Commodities “have all gone parabolically higher on frenzied money flow,” […]
Govt Funds Heat Up Oil Prices
The Associated Press- As oil prices charge past $110 a barrel, analysts say government-run investment funds from oil-rich nations may be adding speculative heat to an already red-hot market. By placing bets in futures markets, these sovereign-wealth funds are no […]
Turbulent hedge fund industry set for more failures
LONDON (Reuters)- The collapse of hedge fund Peloton last week is unlikely to be the last in the $2.5 trillion (1.2 trillion pound) industry as credit conditions tighten. London-based Peloton Partners, which had held nearly $3 billion in assets, is […]
The $240 Million Acquisition Of Bear Stearns
West Palm Beach (HedgeCo.Net)- JPMorgan Chase & Co. announced the acquisition of Bear Stearns Companies Inc. The Boards of Directors of both companies have unanimously approved the transaction. Based on the closing price of March 15, 2008, the transaction would […]
Budget move to open up more funds to UK investors
LONDON (Reuters)- UK investors will have access to a much greater range of investment funds after the Treasury said on Wednesday it plans to extend favourable tax treatment to more offshore funds. The Treasury said that in order to qualify […]
Heller Joins Hedge Fund Association Board of Directors
West Palm Beach (HedgeCo.Net)- Richard Heller, a partner with the law firm Thompson Hine LLP, has been appointed to serve on the Hedge Fund Association 2008 board of directors. The Hedge Fund Association is an international not-for-profit association of hedge […]
Father Daughter Con Team Lure $70 Million Away from Elderly
West Palm Beach (HedgeCo.Net) – Father does not always know best… especially when he recruits his daughter to help him scheme over 15,000 Britons out of $70 million. Paul Robert Gunter, 58, and Zibiah Joy Gunter, 25, have allegedly been […]
JPMorgan to buy Bear as Fed opens lending to Wall St
NEW YORK (Reuters) – JPMorgan Chase & Co set a deal to buy stricken rival Bear Stearns for a rock-bottom price, while the U.S. Federal Reserve expanded lending to securities firms for the first time since the Great Depression to […]