Bloomberg - Money manager John Paulson has started buying beaten-up mortgage bonds as hedge funds stumbled for a fifth straight month.
Paulson, 52, is purchasing debt backed by home loans after generating sixfold returns last year with help from bets against subprime mortgages, investors in his funds said. Paulson’s Advantage Plus fund rose 29 percent this […]

West Palm Beach (HedgeCo.net) - The leaders of the world’s 20 biggest economies will hold an historic meeting Saturday in a bid to head off the threat of a protracted global recession and forge a new world financial order. Called together less than two months ago by US President George W Bush, the emergency summit […]

New York (HedgeCo.Net) - Two hedge funds run by famed portfolio manager Jeffrey Gendell are being closed because of heavy losses suffered this year.  Both Tontine Partners LP and Tontine Capital Partners LP are liquidating assets, although no time table has been given.
The Greenwich-based Tontine Associates, which manages over $11 billion through their four hedge […]

Bloomberg - Hedge funds run by Jeffrey Gendell and John Burbank III posted their worst monthly losses in October. Peter Thiel gave back gains made earlier in the year. Nobel-prize winner Myron Scholes froze his biggest fund.
The managers, like many in the $1.7 trillion hedge-fund industry, were caught in a downdraft of market declines, client […]

Seeking Alpha - It’s a tough world out there - I saw in the Wall Street Journal the average hedge fund lost 18% in October. Considering what their mandate is i.e. hedge - that is amazing. September was awful as well. We see stories of hedge funds that are performing well (in this market losing […]

New York (HedgeCo.Net) - Following in the footsteps of other large hedge funds trying to weather the credit crunch, Blue Mountain Capital Management has suspended withdraws on its $3.1 billion fund. 
The Blue Mountain Credit Alternatives Fund lost a little over 2 percent in October, while posting admirable returns the rest of the year.   The […]

North County Times - The stock market is retreating, credit markets are squeezed and many corporate earnings are diving. But one piece of the mangled U.S. economy is making an improbable comeback: the dollar.
As the financial meltdown clobbers world economies from South America to Asia, investors desperate for safe assets are plowing money into the […]

Metro Canada - A company that will play a key role in the Vancouver 2010 Olympic Games ended rampant speculation about its financial well-being Thursday by completing a deal to refinance a $1.7-billion loan - just hours before deadline.
Intrawest ULC owns and operates major tourism venues across the country but is best known for its […]

Bloomberg - Credit markets have fallen so far that they are providing a "once in a lifetime opportunity," and investors are still selling.
Prices of loans rated below investment grade declined to a record low 66.1 cents on the dollar, virtually guaranteeing investors get their money back, based on historical recovery rates, according to data compiled […]

Bloomberg - The Bush administration will invest about $125 billion in nine of the biggest U.S. banks, including Citigroup Inc. and Goldman Sachs Group Inc., in the government’s latest attempt to shore up confidence in the financial system.
The proposed cash injections in exchange for preferred shares are part of a $700 billion rescue approved by […]

Reuters - Nations from Europe to Australia rushed out plans on Sunday to shore up their banks, trying to halt a markets crash with pledges to back lending, buy stakes in financial institutions and take other emergency steps.if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d[’Yl9NCdG_Rvc-’]=’&U=13fiorehq%2fN%3dYl9NCdG_Rvc-%2fC%3d632663.12996380.13209191.6227634%2fD%3dLREC%2fB%3d4577807%2fV%3d1′; 
European leaders meeting in Paris said their line of attack would help halt the […]

West Palm Beach (HedgeCo.net) - Hedge funds measured by both the Greenwich Global Hedge Fund Index ("GGHFI") and the Greenwich Composite Investable Index ("GI2") significantly outperformed equity indices despite posting their greatest losses since August 1998 during September.
"It was a perfect storm for both credit/equity markets and hedge funds in September," said Thomas Whelan, […]