Monthly Archives: February 2009

Porsche trades give funds ammunition: report

February 16, 2009 : Permalink

Times of the Internet – Hedge funds have gained ammunition for complaints against German sports car maker Porsche after it said it made almost 400 million euros (514 million dollars) in bets on German blue-chip stocks, a press report said […]

Delivery on ‘absolute’ promise is relative

February 16, 2009 : Permalink

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 […]

Credit Suisse Veteran To Start SE Asian Hedge Fund

February 16, 2009 : Permalink

Dow Jones Deutschland – While hedge funds suffer from redemptions and closures amid volatile markets, some firms are taking advantage of falling valuations and market dislocations to launch new funds. Mark Fuchs, chief executive of Singapore-based Fuchs Capital Partners, said […]

Mexican Hedge Fund Takes Over Canadian Mining Company

February 16, 2009 : Permalink

West Palm Beach (HedgeCo.net) – Canadian mining, development and exploration company, Frontera Copper Corporation, has agreed, due to the recent downturn in the copper market, to Mexican hedge fund Invecture’s hostile take over bid. After determining that the hedge fund, […]

Obama drops “car czar” idea

February 16, 2009 : Permalink

Reuters  – President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a "car czar" with sweeping powers, a senior administration official said on Sunday. Obama is appointing Treasury […]

The hedge funds always win in the end

February 16, 2009 : Permalink

Independent – The collapse of Lloyds’ share price on Friday afternoon was deeply upsetting – and not just for shareholders in the bank. Two weeks ago, those annoying folk at Paulson & Co, the hedge fund that has made a […]

Miami CEO Dishes Out $60 Million to Thank Employees

February 16, 2009 : Permalink

New York (HedgeCo.Net) – While some top banking execs choose to blow millions on lavish area rugs or fancy, non functional commodes, Leonard Abess Jr. of Miami-based City National Bank had a better idea; give back to the people who […]

Harvard’s alumni fail to dazzle in recession

February 15, 2009 : Permalink

Telegraph.co.uk – When Andy Hornby, the former chief executive of HBOS, was asked by the Treasury Select Committee to detail his banking qualifications he couldn’t. Like his fellow bankers, Sir Fred Goodwin, Sir Tom McKillop and Lord Stevenson, being questioned […]

Downturn spurs some foundations to give more

February 15, 2009 : Permalink

Boston Globe – At a time when most foundations are cutting back or maintaining last year’s spending, a few are doing what hedge fund manager Ken Nickerson of the Eos Foundation calls "counter-cyclical giving." They’re increasing their grants. Nickerson heard […]

The Hedge Fund Money-Go-Round

February 15, 2009 : Permalink

Seekingalpha.com – Bill Ackman explains how hedge funds work, specifically with regard to investors in Pershing Square IV, his fund dedicated (disastrously) to going long Target. Some of these investors, who are for the most part other hedge funds (that […]

Madoff ‘has blood on hands’ over shooting death

February 13, 2009 : Permalink

West Sussex County Times – A former soldier who shot himself in the head in Southampton was facing bankruptcy after becoming the victim of an alleged fraud by US banker Bernard Madoff, his grieving son said. The son of William […]

Hedge funds in positive teritory

February 13, 2009 : Permalink

Director of Finance online – Lyxor says their Hedge Fund Index was up 1.53% in January.  Lyxor is an asset management group wholly-owned by Socieìteì Geìneìrale. According to a report released today the top performing strategies over the month of […]