Monthly Archives: February 2009
Miami CEO Dishes Out $60 Million to Thank Employees
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
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
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
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
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
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 […]
Partner exits hedge fund firm NewSmith Capital
Reuters – NewSmith Capital Partners, one of the hedge fund firms to appear before last month’s Treasury Select Committee into the banking crisis, told Reuters on Thursday partner Jeremy Silewicz had left the firm. Silewicz, who joined NewSmith in March […]
Hedge firm GLG assets fall
Reuters – Hedge fund GLG Partners reported a further drop in assets on Thursday and said the cycle of investor redemptions in the industry was not yet over despite its funds’ performance perking up in January. The London-based, New York-listed […]
Betsy Waters on Basics of Investment Strategy at NY Traders Expo
West Palm Beach (HedgeCo.net) – dbFX Global Director Betsy Waters will moderate a panel discussion entitled, “Investing in Managed Accounts: The What, How, and Why,” during the International Traders Expo, the largest and only expo designed exclusively for active traders. […]
Hedge Funds Need Help in Recovering Losses: Fiduciary Experts Say
West Palm Beach (HedgeCo.net) – Independent forensic professionals, Chris McConnell and Eric Steinwald are finding themselves in increasing demand as hedge funds and other investors turn to experts for help in recovering from losses caused by fraud, Ponzi schemes, stock […]
GLG, Och-Ziff Earnings Slump on Hedge Fund Losses
Bloomberg – GLG Partners Inc., the hedge-fund firm founded as a unit of Lehman Brothers Holdings Inc., and Och- Ziff Capital Management Group LLC reported lower fourth-quarter profits as their funds posted losses. GLG’s profit excluding acquisition costs dropped 78 percent […]