Monthly Archives: April 2018
Meet the 26-year-old Ex-Googler Who Got $133 Million for a Cryptocurrency Startup That Could Replace Money Completely
(The Business Insider) Al-Naji’s passion for cryptocurrencies began with a bitcoin mining rig he built in his Princeton dorm…..Today, Nader Al-Naji is the CEO of Basis — a hot cryptocurrency startup, with grand ambitions to replace regular money. To Read […]
The Pension Crisis Is Worse Than You Think
(Harvest) Currently, many pension funds, like the one in Houston, are scrambling to slightly lower return rates, issue debt, raise taxes or increase contribution limits to fill some of the gaping holes of underfunded liabilities in their plans. The hope […]
Altaba Charged With Failing to Disclose Massive Cybersecurity Breach; Agrees To Pay $35 Million
(HedgeCo.Net) The Securities and Exchange Commission has announced that the entity formerly known as Yahoo! Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world’s largest […]
Hedge Funds Are Columbia’s Big Bet in $10 Billion Endowment
(Bloomberg) Columbia University’s $10 billion endowment has invested a third of its assets in hedge funds at a time when other large investors are chasing low-cost passive funds. To read this article:
Britain’s Waterstones Has Been Bought by Elliott Advisors for £250m
(The Guardian) James Daunt, who has been Waterstones’ CEO since 2011 and who presided over an 80% jump in annual profits in the year to April 2017, will remain in his position following the sale, along with his “key leadership […]
Global Investors Pile Into China Stocks Ahead of MSCI Index Entry
(Reuters) Overseas investors are pumping billions of dollars into Chinese stocks and the country’s asset managers are rushing to launch index-tracking funds in a fervent build-up to China’s inclusion in MSCI’s widely tracked equity benchmarks. The race to get a […]
Who Took the Fun Out of Fund Management?
(Bloomberg) “Happy families are all alike; each unhappy family is unhappy in its own way,” was how Leo Tolstoy started his novel Anna Karenina. The three tribes that make up the asset management business are each suffering their own crisis […]
BoE Simulates How Funds, Insurers Cope With Big Margin Calls
(Reuters) The Bank of England is studying how funds and insurers could cope with sudden demands for cash to back trades without resorting to a destabilizing fire sale of assets, a senior BoE official said last week. Alex Brazier, the […]
Short-Sellers May Not Make Money When Markets Know Their Trades
(Bloomberg)When Dutch regulators accidentally revealed who was betting against local stocks last year, they didn’t just just expose George Soros and other short sellers’ secret trades. The stocks stopped underperforming, providing a case study for U.S. exchanges that argue shorts […]
A Steve Cohen-Backed Trading Firm Is Rolling Out Data for Quant Wannabees
(CNBC) A quant-trading firm backed by hedge fund billionaire Steve Cohen is rolling out data for professional money managers to develop new trading ideas. The firm, Quantopian, which invites scientists to share and sell licenses for their computer codes, planned […]
Billionaire Bacon’s Defamation Suit Against Nygard Revived
(Bloomberg) The decade-long feud between hedge fund billionaire Louis Bacon and Canadian fashion designer Peter Nygard over their neighboring properties in the Bahamas lives on. To read this article:
Opalesque Roundtable: What Is the Caliber of Investment Talent Entering Hedge Funds?
(Opalesque)Everybody in the hedge fund industry is talented, but we have to distinguish between me-too talent and differentiated talent, said Rick Doucette, CEO and CIO of Antecapio Investment Partners. He added that there has always been a lot of me-too […]