Tag Archives: appaloosa-management


Rivals bet against Morgan Stanley in September

Forbes – Major Wall Street firms placed large bets against Morgan Stanley using credit-default swaps, two days after Lehman Brothers Holdings Inc sought bankruptcy protection, the Wall Street Journal said, citing trading records. The firms included Merrill Lynch & Co, […]

Former UBS Exec Sentenced in Manhattan

New York (HedgeCo.Net) – A former UBS AG executive has been sentenced to 6-1/2 years in prison after pleading guilty to selling private information about the bank’s stock recommendations.  Mitchel Guttenberg, a former manager in UBS’ equity research department, was […]

Commodities R.I.P. as Leverage Vanishes, Growth Slows

Bloomberg – Commodities markets are heading for the biggest annual decline since 2001 as investors exit leveraged bets and slowing economic growth erodes demand for raw materials. The value of the 19 commodities in the Reuters-Jefferies CRB Index fell $280.6 […]

Lehman, UBS Among Firms Involved in Tax Dodge, U.S. Probe Says

Bloomberg – Lehman Brothers Holdings Inc., UBS AG and Merrill Lynch & Co. are among Wall Street firms that concocted derivatives and stock-loan deals to help offshore hedge funds dodge hundreds of millions of dollars in U.S. taxes, according to […]

Former UBS Trader’s Hedge Fund Takes a Hit

New York (HedgeCo.Net) – The SRM Global Master Fund, headed by former UBS AG star trader Jonathan Wood, is down about 85% over the course of its two-year tenure, according to a report by the Wall Street Journal.  Launched in […]

RBS Rises on Speculation Hedge Fund Will Seek Breakup

Bloomberg – Royal Bank of Scotland Group Plc led gains for European banking stocks on speculation that demand for its rights offer is strong and a U.K. hedge fund is buying shares to push for a breakup. Edinburgh-based RBS, Britain’s […]

UBS’s Commodities Co-Head Quits to Join Hedge Fund

Bloomberg- Hunter Shively, global co-head of UBS AG’s commodities business for the past seven months, is resigning to join a start-up hedge fund that is raising money to trade energy futures. Shively, 38, will stay on for two months to […]

UBS $100 Billion Wager Prompted $24 Billion Loss in Nine Months

Bloomberg – The annual shareholders meeting of UBS AG used to be a time for Chairman Marcel Ospel to gloat over his accomplishments. Shareholders would praise Ospel for turning a slow-growing, insular Swiss bank into a global financial powerhouse, with […]

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