Bloomberg - PXP Vietnam Asset Management, which oversees $225 million, plans to start a hedge fund by early next year as it seeks bargains in Asia’s second-worst-performing stock market, said co-founder Kevin Snowball.
The PXP Vietnam Value Fund will raise as much as $200 million to invest in undervalued stocks, Snowball said today.
PXP, the initials […]

Bloomberg - At 5-foot-4 and 48 years, Nissim “The Miracle” Tse is the shortest and oldest of 34 boxers signed up for this year’s Hong Kong Hedge Fund Fight Nite.
Calling himself “a financial warrior,” Tse likens boxing to his daytime job as a co-founder and head of trading for Hong Kong-based Pi Investment Management Ltd., […]

TIMES - The ups and downs of the Dow are making Wall Street’s so-called "smart money" look dopey. Hedge funds lost nearly $300 billion due to bad investments in the first nine months of the year, according to an analysis of return data by TIME.com.
If the losses stand it would be by far the […]

Reuters Paris  - European hedge funds have had a bad week due to the market turmoil from the bailout of AIG and the collapse of Lehman Brothers, the co-founder of French fund of hedge fund manager ERAAM said on Thursday.
Paris-based ERAAM selects European hedge funds in which to invest its clients’ money and constantly monitors […]

Bloomberg - The brother of former Bayou Group LLC finance chief Daniel Marino, who is serving 20 years in prison, pleaded guilty to a federal charge that he helped conceal a $400 million fraud at the bankrupt hedge-fund firm.
Matthew Marino entered his guilty plea yesterday in U.S. District Court in White Plains, New York, federal […]

New York (HedgeCo.Net) - Greenwich-based Andor Capital Management will liquidate its $2 billion hedge fund after posting losses due to unfavorable market conditions, following in the footsteps of many failed hedge funds this year.   
Co-founder Daniel Benton announced the decision in a letter to investors this week while outlining a liquidation to start in October.
"My […]

Guardian.co.uk - Hedge funds are known for playing many roles on Wall Street, but last-resort lender to small businesses that are turned down by banks is hardly one of them.
 Yet with the credit crunch pushing many major U.S. banks to set tougher lending standards for small and medium-sized businesses, hedge funds have stepped in.
The […]

Philadelphia Daily News- A hedge-fund swindler who was supposed to be driving himself to prison abandoned his car on a bridge with the phrase "Suicide is Painless" scrawled on its hood, but no body has been found in the river below - and the victims of his fraud say they doubt he killed himself.
The FBI, […]