Monthly Archives: July 2012
Fletcher International sues to block hedge fund liquidation
The Day – Fletcher International Ltd., a bankrupt hedge fund managed by the investment firm of Alphonse “Buddy” Fletcher, sued some of its own Cayman Islands-based funds to block liquidators from selling its assets. The lawsuit, filed in U.S. Bankruptcy […]
Hedge Funds Trail Vanguard As Elliott Returns Atypical
Bloomberg – Before they discovered hedge funds, pension funds and endowments typically held portfolios with 60 percent in equities and 40 percent in bonds. Many would be better off if they had stuck with the old formula. Hedge funds have trailed […]
U.S. SEC Finalizes Derivative Definition Rules
Reuters – Securities regulators on Monday [July 9] finalized rules that define what kinds of derivatives products will be regulated under the new regime created by the 2010 Dodd-Frank Wall Street reform law. The Securities and Exchange Commission voted unanimously […]
Finance industry’s multimillion-pound lobbying budget revealed
Guardian – The British financial services industry spent £92m last year lobbying politicians and regulators in an “economic war of attrition” that has secured a string of policy victories. As the industry prepares to fight off renewed calls for root-and-branch reform in […]
$21 Million International Hedge Fund Fraud Case Results in Guilty Pleas
New York (HedgeCo.Net) – An investigation into hedge fund fraud that was initiated from a SAR resulted in guilty pleas, forfeiture, and in the case of the ringleader, a lengthy prison sentence. All of the victims were non-U.S. residents. Also highlighted were […]
Sean Healey Rules $400 Billion Empire Buying Stakes in 28 Funds
Bloomberg – One of the things Sean Healey missed most when he left Goldman Sachs Group Inc. in 1995 was his business card. Flashing it was a surefire way to convince people of his credentials. “People would say, ‘Oh, you must […]
Citigroup Said To Keep Money Out Of Own Fund Amid Volcker
Bloomberg – Citigroup Inc. (C) is seeking to raise money for a new hedge fund without putting its own cash into the venture, in a test of investors’ willingness to buy in when the bank isn’t sharing risk, said two […]
Hedge funds plow most into commods in 2 years as third quarter dawns
Reuters – Hedge funds and other big commodity investors pumped a notional $13 billion into U.S. energy, grains and metals markets in the week to July 3, the biggest influx in at least two years, after a debt deal in […]
So THAT’s The Mysterious Hedge Fund That Romney Invested In…
Whilie waiting for Mitt Romney to do the right thing and release a decade’s worth of tax returns (as his opponent, Barack Obama, has already done), I’ve been examining the one return that Romney has released–2010’s. In that return, I’ve discovered a […]
Hedge Funds: Ripping Off Millionaires and Pensions Alike
InvestorPlace – Hedge funds are a huge rip-off, having lagged the boring old broader market for years now. True, if you’re not a multimillionaire, you probably don’t care. These things aren’t open to mom-and-pop investors, anyway. But once you realize […]
Cohen’s SAC starts in reinsurance business
Reuters – Billionaire hedge fund manager Steven A. Cohen is now officially in the insurance business. SAC Re Ltd, the new reinsurance unit of Cohen’s $14 billion (9.01 billion pounds) SAC Capital Advisors, officially began operations on Monday, the group […]
Capital Group One to Launch $610 Million Euro Hedge Fund
New York (HedgeCo.Net) – Based on the massive success of Capital Group One’s first Euro hedge fund launched in 2007, well before the current EU problems materialized, Capital Group One is launching a second one to balance the risk of further losses […]