Monthly Archives: February 2009
Stanford workers had ties to regulator FINRA
Reuters – Two employees of Allen Stanford’s financial business, which U.S. regulators have accused of massive fraud, held advisory roles at a watchdog group overseeing U.S. broker-dealers aimed at preventing abuses. Lena Stinson, director of global compliance at Stanford Financial […]
Hedge fund in talks with Target on board seats
Associated Press – Activist hedge fund manager William Ackman is in talks with Target Corp. about naming potential directors to the discount retailer’s board, according to a Securities and Exchange Commission filing on Thursday. Target shares gained 61 cents, or […]
Hedge fund head says times right for global macro
Reuters – In a period when volatile markets battered most hedge funds, global macro funds are proving their worth, Graham Capital Chairman Kenneth Tropin told Reuters. During one of the hedge fund industry’s worst years, Graham delivered gains of up […]
Two New York Money Managers Charged with Futures Fraud
New York (HedgeCo.Net) – Two New York residents were charged yesterday by the Commodity Futures Trading Commission after allegedly misappropriating at least $553 million of client’s funds. Stephen Walsh of Sands Point, NY and Paul Greenwood of North Salem, NY […]
Paulson Likes Distressed Assets Amid Global Recession
Bloomberg – Distressed assets offer the best investment opportunities this year as the global recession deepens, billionaire hedge-fund manager John Paulson said. “The decline in the market has created a very good buying opportunity,” Paulson, 53, whose New York-based Paulson […]
Big Madoff Investors Targeted
Financial Times – The trustee charged with tracking down money for victims of Bernard Madoff’s alleged $50bn Ponzi scheme will target big investors – such as hedge funds – that pulled "substantial amounts" of "false profits" out of the broker’s […]
Yahoo CFO says not opposed to search sale
Reuters – Internet firm Yahoo Inc is "not opposed" to doing a deal that would potentially sell its search business, Chief Financial Officer Blake Jorgensen said on Wednesday. But he said the search business is deeply intertwined with Yahoo’s other […]
Fed $1,000bn financing plan nears launch
Financial Times – The US Federal Reserve will launch its financing programme, worth up to $1,000bn, for consumer and business loans in the coming days, amid concerns that hedge funds might find it difficult to take advantage of the scheme. […]
Hedge fund founder used phony firm, returns: authorities
Reuters – A hedge fund manager overstated values by hundreds of millions of dollars, set up a phony accounting firm and showed uniformly positive returns for nine years to defraud investors, U.S. authorities said on Wednesday. James Nicholson, 42, founder […]
Rasmala Launches 2 Saudi Funds
West Palm Beach (HedgeCo.net) – The Saudi Capital Market Authority has approved Rasmala Investments request to launch two Saudi Equity funds. One of the funds ‘Rasmala Saudi Equity Fund’ will be managed according to the Shari’a guidelines approved by the […]