Monthly Archives: February 2009
Hedge Fund Manager, Six Others Busted in Insider Trading Scam
New York (HedgeCo.Net) – The SEC charged seven Wall Street professionals yesterday, alleging an insider trading ring that reaped over $11.6 million in illegal profits. British residents Nicos Achilleas Stephanou of UBS and Ramesh Chakrapani of Blackstone Advisory Services are […]
Hedge Fund Expert Subpoenad by Feds
West Palm Beach (HedgeCo.net) – Wall Street’s highest-ranking woman, Erin Callan, was subpoenaed by a federal grand jury, along with 24 other Lehman executives regarding the collapse of Lehman Brothers, according to the New York Post. Now in seclusion, the […]
Ryanair boss hedges his bets on the price
This is Money – Hedge will be one of those words forever linked to the great financial crisis of 2008. The hedge funds were supposedly money-minting schemes whereby fantastically intelligent financial whiz kids write fantastically complex programmes to ensure they […]
The List: The Crisis’s Big Winners
The New York-based hedge fund manager reportedly made a record $3.7 billion in 2007. In 2008, his $7 billion Advantage Plus fund returned an incredible 37.6 percent. Another smaller fund he manages returned nearly 590 percent last year, thought to […]
Bernard Madoff, the Mafia, and the Friends of Michael Milken
Market Rap – In 2005, Patrick Byrne, the CEO of Overstock.com and future Deep Capture investigative reporter, began a public crusade against illegal naked short selling (hedge funds and brokers creating phantom stock to manipulate stock prices down). He said, […]
A Hedge Fund Gambles on Death
BusinessWeek – The market for exotic securities hasn’t entirely gone away. It’s just gone underground—-six feet under, to be precise. Hedge fund Davidson Kempner Capital Management is plunging into life settlements—a market in which speculators buy-up unwanted life insurance policies […]
Myojo Plans Tech-Stock Hedge Fund as Firm Rebuilds After Rout
Bloomberg – Myojo Asset Management Japan Co., whose assets shrank 86 percent in 2008, plans a new fund focused on global technology stocks as the firm rebuilds after the hedge fund industry’s worst year on record. Noriya Nishi, a former technology […]
Daniel Och Increases Stake in Own Hedge Fund
New York (HedgeCo.Net) – Daniel Och, CEO of New York-based hedge fund Och-Ziff Capital Management, is showing his confidence in his company, racking up another 1.6 million shares. Och shelled out about $7 million between November 13 and February 2, […]
Obama Puts Foot Down, Caps Pay for Top Execs
New York (HedgeCo.Net) – As the Obama administration prepares to distribute the remaining $350 billion in the Troubled Asset Relief Program, a new requirement will ensure that the salaries of top executives be capped at $500,000 a year. “For top […]