Monthly Archives: July 2014
Here’s What Hedge Fund Analysts Are Expecting From Bank of America
Investing.com – Bank of America Corp. (NYSE:BAC) is set to report FQ2 2014 earnings before the market opens on Wednesday, July 16th. Most analysts predicted a contraction in earnings from a majority of the banks this earnings season including Bank […]
Louisiana Hedge Fund Manager Pleads Guilty To Fraud
New York (HedgeCo.Net) – A hedge fund manager has pleaded guilty to multiple counts of mail fraud based on his executing a $13 million investment fraud scheme that included victims in Louisiana, Mississippi, Texas and Florida, The Times-Picayune reports. He is scheduled […]
Global Hedge Funds Reach $2.12 Trillion In First Half Of 2014
New York (HedgeCo.Net) – Despite mixed returns, hedge funds grew assets under management by US$105.6 billion in the first half of 2014 bringing the current AUM of the global hedge fund industry to a record high of US$2.12 trillion, according […]
SEC Charges Ernst & Young With Violating Auditor Independence Rules in Lobbying Activities
The Securities and Exchange Commission today charged Ernst & Young LLP with violations of auditor independence rules that require firms to maintain their objectivity and impartiality with clients. Ernst & Young agreed to pay more than $4 million to settle […]
Hedge funds bet $745 million on Kilpatrick debt in Detroit’s bankruptcy
Detroit Free Press – Several hedge funds are betting they can profit from Detroit’s bankruptcy, snapping up more than $750 million of the city’s distressed debt. The New York-based hedge funds — whose investments in Detroit debt were first reported […]
Two 20-something money managers launch a new hedge fund in Fort Worth
Dallas News – There are plenty of new hedge fund managers trying to make a name for themselves on Wall Street. Then there are two 20-something money managers who are building their firm from scratch from an office in Fort […]
Former Sterne Agee broker accused of running $6M hedge fund side business
Birmingham Business Journal – A former Sterne Agee broker has been accused of allegedly failing to disclose a side business where he ran a $6 million hedge fund. The Financial Industry Regulatory Authority Inc. filed a complaint last week alleging […]
Hedge Fund’s Tax Maneuvers Under Scrutiny by Lawmakers
AW – The UK government said over the weekend it would stiffen laws governing foreign takeovers of British companies, potentially raising new hurdles for overseas acquirers amid heightened interest in British companies as takeover targets, Peter Evans of the Wall […]
What Are These Two Hedge Fund Guys Doing in Jersey City?
Inside Philanthropy – The idea that effective school leadership on the part of principals is a key element in school reform and better student achievement appears to be catching on. Education researchers have been saying it for years, and a […]
Citigroup To Pay $7 Billion In Sub-Prime Mortgage Settlement
New York (HedgeCo.Net) – Citigroup has agreed to pay approximately $7 billion for its part in the financial crisis of 2008, the WSJ reports. Citigroup is accused of downplaying the risks of sub-prime mortgages when packaging them selling them to hedge funds, […]
Ex-Macquarie Money Manager Kok Plans Global Hedge Fund
Bloomberg – Gerald Kok, a former fund manager at Macquarie Group Ltd. (MQG), plans to start a hedge fund that invests in Asian and U.S. companies going through corporate events such as mergers and divestments. GSK Global Fund will focus […]