Monthly Archives: March 2017
Hedge Fund Sees Tough Exit for $65 Billion Bets on Koruna
(Bloomberg) London hedge fund manager George Papamarkakis says speculators who have bet as much as $65 billion on koruna gains may be in for a rude awakening. When the Czech central bank relinquishes its cap on currency appreciation sometime after […]
Ackman Is ‘Profoundly’ Sorry for $4 Billion Valeant ‘Mistake’
(Bloomberg) Bill Ackman “deeply and profoundly” apologized for his investment in Valeant Pharmaceuticals International Inc., a “huge mistake” that cost his firm $4 billion. In his annual letter to investors in his publicly traded fund Pershing Square Holdings Ltd., Ackman […]
Hedge-Fund Owner Peregrine Considers Split to Boost Returns
(Bloomberg) Peregrine Holdings Ltd., the operator of South Africa’s oldest hedge fund, is considering a plan to split the company by using profits from its stockbroking and wealth-management units to create a new investment firm. The stock surged the most […]
The World’s Largest Fund Manager Just Sent a Message to Investors Everywhere
(The Business Insider) BlackRock, the world’s largest investor, just shook up its business, slashing fees on some funds and saying it will increasingly turn to computing power to drive investing decisions. In doing so, the fund manager is tapping into […]
BofA Shakes Up Merrill Lynch Leadership Under New Chief
(Bloomberg) Bank of America Corp.’s new wealth management chief, Andy Sieg, is reorganizing his Merrill Lynch herd. In a broad leadership shakeup announced Wednesday, Sieg cut the number of divisions within Merrill Lynch to six from 10 and promoted Mike […]
Hedge-Fund Owner Peregrine Considers Split to Boost Returns
(Bloomberg) Peregrine Holdings Ltd., the operator of South Africa’s oldest hedge fund, is considering a plan to split the company by using profits from its stockbroking and wealth-management units to create a new investment firm. The stock surged the most […]
Altegris Partners With GSA Capital On New Managed Futures Fund
(FINalternatives) Alternative investment manager Altegris has debuted a new liquid alternative managed futures fund in tandem with Jonathan Hiscock’s quantitative specialist GSA Capital Partners. To read this article:
SEC Rejects SolidX Bitcoin ETF Proposal
(FINalternatives) For the second time this month, the U.S. Securities and Exchange Commission has denied a proposal to list an exchange-traded product tracking the price of bitcoin, citing the same core reasons a similar request from the Winklevoss brothers was […]
Goldman Forms New Equities Team to Improve Hedge Fund Services
(Bloomberg) Goldman Sachs Group Inc. has created a new team to encourage collaboration between its businesses that service hedge funds, and trade swaps and other derivatives. Puneet Malhi and Cyril Goddeeris will be co-heads of the group, known internally as […]
GM Snubs Einhorn Over Stock Plan He Says Would Add $38 Billion
(Bloomberg) Mary Barra has more than turned around General Motors Co. That’s not been good enough for Wall Street. Record profit Barra has delivered as chief executive officer has failed to inspire shareholders including a high-profile one: hedge-fund billionaire David […]
Citadel Rehires Yeh as Head of its Quant Unit
(Reuters) Hedge fund Citadel said it is making changes at the top of its global quantitative division by bringing back James Yeh to replace the current head who is retiring. Jonathan Graham, who has headed the unit for four years, […]
Akzo Shareholder Elliott says 25 Percent of Owners Want PPG Talks
(Reuters) Elliott Advisors, the hedge fund with a 3.25 percent stake in Dutch paint maker Akzo Nobel (AKZO.AS), has identified shareholders representing 25 percent of the company’s owners who want it to engage in takeover talks with PPG Industries (PPG.N), […]