Lexington Herald-Leader – A bankruptcy judge agreed Tuesday to postpone a hearing on a hedge fund’s request for the appointment of an examiner in horse track owner Magna Entertainment’s Chapter 11 bankruptcy case.

At the request of attorneys, a hearing originally scheduled for Tuesday on the request by Greenlight Capital Offshore Partners was postponed until Aug. 18.

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Tags: appointment, attorneys, bankruptcy case, bankruptcy judge, chapter 11 bankruptcy, hedge fund, horse track, lexington herald leader, magna entertainment, offshore partners

Lexington Herald-Leader – When does "absolute" imply something that in reality is far less than certain?

When it comes to "absolute return funds." That’s the label mutual fund companies have put on hedge fund-style products that they’ve been rolling out the past three years. The funds seek to smooth out the bumpy, downward ride the markets have taken lately.

But you can still lose money, even if you manage to fare better than most investors in a downturn. Absolute return funds lost an average 11.7 percent over the 12-month period ended Wednesday, according to Morningstar Inc.

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Tags: absolute-return, downturn, investors, lexington herald leader, money, morningstar, mutual-fund-companies, style products