Monthly Archives: February 2009
Hedge Fund Honchos Burned in Scam Start Fire Sale
New York Post – The founders of a New York hedge fund at the center of the Bernard Madoff scandal have begun selling assets as their firm faces massive losses and a slew of lawsuits, sources told The Post. Walter […]
China wants IMF to be tougher with rich states
Reuters – China, setting out its stall for the next global financial summit, wants the International Monetary Fund to get tougher with developed countries that let their economies run off the rails. In a position paper prepared for the April […]
Limiting fund risk can by risky too
Seattle Times – With their investment records in tatters, some mutual-fund companies are pinning their hopes on products with an old-fashioned ambition: delivering steady returns. Many of these funds are doing just that, while others are falling short of the […]
Activist hedge fund moves on Abitibi
Globe and Mail – A U.S. hedge fund with a reputation as an activist investor has become the biggest shareholder in AbitibiBowater Inc., putting added pressure on management at the struggling paper giant to find a speedy solution to its […]
Risk Watch: The Continuing Danger of the Young Money Manager
Seekingalpha.com – First, the veteran can lose money just as easily as the rookie. Second, and more perniciously, just because a young money manager has been humbled does not mean he now shares your thinking about risk. And in a […]
Hedge Fund Lets Investors Withdraw What Is Left
New York Times – In a move that could force similar changes at other money-losing hedge funds, the well-known fund manager William A. Ackman is cutting his fees and allowing investors to take what is left of their money from […]
Pelorus Advisors Offer Risk Service Exclusively To Hedge Funds
West Palm Beach (HedgeCo.net) – As investors look to independent and unbiased hedge fund risk due diligence, Pelorus Advisors has decided to launch an operational risk management service for hedge fund investors. Unlike other due diligence firms, Pelorus only offers […]
U.K.’s Prince Charles Targeted by Madoff Marketer, Witness Says
Bloomberg – Britain’s Prince Charles, among other royalty and wealthy Europeans, were targeted through Bernard Madoff’s use of high-profile recruiters, said whistleblower Harry Markopolos in documents given U.S. lawmakers. Prince Michael of Yugoslavia was an executive of a so- called […]
Time flies with Nadel in custody
Herald Tribune – As Arthur G. Nadel made his way to New York Thursday under the watchful eye of U.S. marshals, the clock ticked away on the 30-day time limit faced by prosecutors to indict the man accused of a […]