Monthly Archives: January 2009
Alleged hedge fund scammer is arrested
San Francisco Gate – Friday, January 9, 2009 Alexander James Trabulse, 61, was taken into custody Monday, according to U.S Customs and Border Protection officials. He appeared later that day before U.S. Magistrate Elizabeth Laporte in San Francisco and is […]
Madoff May Cost Insurers $1 Billion to Cover Funds
Bloomberg – Bernard Madoff’s alleged Ponzi scheme may cost insurers who cover financial institutions more than $1 billion as they pay legal costs for investment managers who gave client money to Madoff, an industry executive said. Insurers who sell such […]
Hedge Funds Not Alone in Defending Short-Selling Secrecy
Seeking Alpha – The debate over short selling often pits traditional “long-only” managers against the upstart alternatives: hedge funds. But as this report in yesterday’s FT points out, the lines between “traditional” and “alternative” are blurring quickly. The Alternative Investment […]
TCI founder, partner Degorce leaves hedge firm
Forbes – Patrick Degorce, a founder and partner at high-profile activist hedge fund firm The Children’s Investment Fund (TCI), has left the company, a spokeswoman told Reuters on Friday. Degorce was in the public eye in early 2007 when he […]
White Plains hedge funds sued in Madoff investment scandal
Lower Hudson Journal news – Four hedge funds are at the center of a federal class-action lawsuit accusing them of steering millions of dollars from investors to Bernard Madoff. The lawsuit, filed in U.S. District Court in Manhattan, charges that […]
Burning hedges blow smoke on Busson
The Australian – ARPAD Busson is angry. He has just looked at the returns of a hedge fund he used to invest in and they’re down more than 60 per cent in the past nine months. "That a-hole!" Busson says […]
Hedge funds suffer losses but beat markets
Reuters UK – Hedge funds suffered their worst full-year loss ever in 2008 but their decline was still less steep than the 38 percent drop for the average stock mutual fund, data released on Thursday showed. The average hedge fund […]
Bank Safdie Dodges Madoff Loss, Predicts More Hedge Fund Rules
Bloomberg – Banque Safdie SA, the Geneva-based wealth manager that withdrew money invested with Bernard Madoff three years before his alleged Ponzi scheme unraveled, said the scandal will mean more hedge fund regulation. “What Madoff has done is highlight the […]
Investors joining hedge fund club get burned
Reuters – Two years ago, investors scrambled to snap up shares in elite hedge fund firms, eager for a piece of the lucrative action. What they got instead were big losses. Starting in early 2007, when hedge fund and private equity […]
Anglo American PLC
SilkInvest – Anglo American PLC, which represents about 10% of the South African index, has been one of the worst performers among the world’s major diversified mining companies. It has now addressed issues with its under-performing management team. Chief executive […]
Hedging loopholes
Blueridgenow.com – Hedge funds have been in the news recently, usually with a watered down description of the characteristics of these investment vehicles. Most folks know that Chelsea Clinton works for a hedge fund (Avenue Capitol), and that John Edwards […]
Hedge Fund Hell: Banks Jockey For Position
Street.Com – Battered hedge funds may still be the best-looking clients out there for banks, which face a dearth of opportunities to do deals in the dead M&A and IPO markets. The business of providing an array of services to […]