Monthly Archives: May 2012
SEC Staff Ends Probe Of Lehman Without Finding Fraud
Bloomberg – U.S. Securities and Exchange Commission investigators have concluded their probe of possible financial fraud at Lehman Brothers Holdings Inc. without recommending enforcement action against the firm or its former executives, according to an excerpt of an internal agency […]
Nasdaq Glitch Causes Losses At Hedge Fund Market-Making Arm
New York (HedgeCo.net) – A technical glitch botching Facebook Inc.’s initial public offering on the Nasdaq stock exchange, has caused Citadel Securities’ market-making business to lose around $30 million, according to Reuters. Luckily, Citadel’s hedge fund was not affected, the losses came […]
Clive Capital Hedge Fund Rebounds On Falling Energy Prices Bet
Bloomberg – Chris Levett’s Clive Capital LLP gained as much as $230 million in May after betting energy and power prices would fall in a month when oil posted its biggest drop in two years, two people with knowledge of […]
Hedge Fund Got Most South Carolina Fees While Lagging on Returns
BusinessWeek – Mariner Investment Group LLC, a hedge fund founded by a former Bear Stearns Cos. fixed-income executive, charged South Carolina’s pension fund more than any other manager while delivering returns that trailed competitors. Mariner, started by William Michaelcheck, 65, […]
Analysis: Funds of hedge funds fight to stay relevant
Reuters – For funds which market themselves on their ability to spot the sharpest hedge fund minds, it could be their greatest challenge yet. Investors who once trusted them to find the best returns are gaining the expertise and confidence […]
CFTC Sues Ex-Chicago Broker, Alleging Ponzi Scheme
Reuters – The Commodity Futures Trading Commission (CFTC) has sued a former Chicago floor broker, claiming he ran a four-year Ponzi scheme and fraudulently solicited at least $7.8 million to trade commodity futures contracts. In a civil lawsuit, the CFTC […]
Brett Lane Joins Commonfund’s Hedge Fund Strategies Group
New York (HedgeCo.net) – Commonfund, a prominent investment manager for institutional investors, today announced the appointment of Brett Lane as Managing Director, reporting to A. Nicholas (Nick) De Monico, CEO, Commonfund Hedge Fund Strategies Group. “Brett is an integral addition to Commonfund, coming at an […]
First wiretap played at Rajat Gupta insider-trading trial
Reuters – A New York jury on Wednesday heard former Goldman director Rajat Gupta on a FBI wiretap casually discussing business with Raj Rajaratnam, the now-imprisoned hedge fund founder he is accused of tipping off about boardroom secrets. The 23-minute […]
Trial of ex-P&G, Goldman board member starts in NY
AP – The July 29, 2008, phone call between two titans of Wall Street began with the old friends exchanging mild pleasantries, but then quickly turned serious and, by the government’s account, criminal. Hedge fund manager Raj Rajaratnam asked about […]
SEC Sues Hedge Fund Execs for Ponzi Scam
HFN – The founder and the chief operating officer of a Florida hedge fund have been named in a Securities and Exchange Commission lawsuit for their roles in a massive Ponzi scheme. The SEC announced Tuesday that Fort Lauderdale-area residents […]
The Rush For The Exits Doomed Facebook’s Stock
Forbes – David Ebersman, Facebook’s chief financial officer, made the decision to increase the number of shares that would be sold in Facebook’s IPO three days before the big event.The Wall Street Journal suggests this decision doomed Facebook’s shares. By increasing the amount […]
Dartmouth College Whistleblowers Accuse Trustees Of Funneling Money Into Their Own Hedge Funds
BusinessInsider – We know that Dartmouth students aren’t big fans of hedge funds, but it turns out the university’s faculty aren’t too keen on them either. A group of Dartmouth professors and employees are requesting that New Hampshire state launch […]