Monthly Archives: January 2014
Face it City boys, here’s why women make better hedge fund managers than men
Telegraph – Unlike the investment banking species, the hedgie is not a sociable creature. Little is revealed about who they are, what they look like, or indeed how much they make for themselves and their clients. There are a couple […]
For the Love of Money
NYT – In my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. I was 30 years old, had no children to raise, no debts to pay, no philanthropic […]
Former Hedge Fund Trader Describes “Wealth Addicts” On Wall Street
Gothamist – In an illuminating op-ed for the Times, a former hedge fund trader describes how he supplanted his drug and alcohol additions with an addiction to money. “I was a giant fireball of greed,” Sam Polk writes. “I’d think […]
Hedge funds’ top five currency bets for 2014
Reuters – Hedge funds think 2014 could be the year their currency bets finally pay off, after getting burned last year on trades ranging from the Australian dollar to the greenback. The influence of central banks and competition among nations […]
Boston hedge fund Esplanade Capital boosts offer for Nevada casino operator
BizJournal – Unwilling to back down in its drive to buy Archon Corp., Boston hedge fund Esplanade Capital LLC has upped its offer to $111 million. The $19.25-a-share offer tops Esplanade’s June offer of $18.50 a share for the Nevada-based […]
30% Of Institutional Investors Plan To Increase Hedge Fund Allocations
New York (HedgeCo.Net) – Major global institutional investors say they plan to increase their allocations to alternative investments, with a bias towards real estate and real assets, during 2014, according to a global survey of institutions conducted by BlackRock. “Within […]
Hedge Fund Compensation Up 16% In 2013, Bonuses Up 30%
New York (HedgeCo.Net) – Hedgies received increases in both base salary and year-end bonuses according to Benchmark Compensation’s 2014 Hedge Fund Compensation Report. The average cash compensation was up again in 2013 and came in at $330,000. Base salary played a […]
Hedge-Fund Founder Robert W. Wilson Leaves Art to Whitney
Bloomberg – Robert W. Wilson, the hedge-fund manager who lept to his death last month from his New York residence, gave his art collection to the Whitney Museum of American Art in Manhattan. Wilson, who served on the museum’s board, didn’t […]
Hedge funds wary of taxes despite new law
BD Live – The Taxation Laws Amendment Act will limit the risk of double taxation for hedge funds, but industry experts are concerned there is a risk that trading profits could still be taxed within funds. An unprotected hedge fund […]
Morgan Stanley Claws Back 100% Compensation From Crooked Hedge Fund Manager
Forbes – In a little publicized decision just before Christmas, the U.S District Court, Southern District, ruled that a former hedge fund bigwig, Joseph F.”Chip” Skowron III, must forfeit $31 million compensation earned from the firm between 2007 and 2010. […]
SEC Obtains Settlements in Penny Stock “Shell Packaging” Case
The Securities and Exchange Commission today announced nearly $300,000 in settlements against a Virginia-based “shell packaging” company and its CEO who were charged with facilitating a penny stock scheme as well as a Bronx, N.Y.-based stock promoter who received proceeds […]
Hedge Fund Regulation: Banks Get CDO Exception To Volcker Rule
New York (HedgeCo.Net) – The SEC and other federal regulars yesterday approved a rule allowing banking entities to hold on to certain CDOs. Reuters reports that this would be the first “tweak” to the new legislation known as the “Volcker rule,” […]