Monthly Archives: August 2018
Venezuela Adds to Chaos With One of Biggest Currency Devaluations Ever
(Bloomberg) Venezuelan President Nicolas Maduro carried out one of the greatest currency devaluations in history over the weekend — a 95 percent plunge that will test the capacity of an already beleaguered population to stomach even more pain. One likely […]
Saba Hedge Funds Focused on Closed-End Credit Suffer 2018 Losses
(Bloomberg) Boaz Weinstein’s hedge funds that invest in closed-end credit strategies have posted losses this year.The market-neutral Saba Capital CEF Opportunities 2 dropped about 7.5 percent in the first seven months of the year and fell 2.6 percent in July, […]
Bullish oil bets fall to 11-month low:
(Reuters) – Hedge funds have cut their bullish position in crude oil and refined fuels to the lowest level for almost a year, as fund managers continued to close out former long positions. Hedge funds and other money managers cut […]
Brevan Howard Cuts Office Perks in London Headquarters
(Bloomberg) Brevan Howard Asset Management, the hedge fund manager run by billionaire Alan Howard, has shrunk the size of its London headquarters, cutting back on space previously used as a gym, kitchen, meeting area and private reception, two people with […]
Pound Falls As Focus Turns To Brexit
(Reuters) Sterling fell on Monday as the dollar rebounded and investors shifted their focus to impending talks that may decide whether Britain gets a trade deal with the European Union before it quits the bloc. The pound has suffered six […]
Britain Extends Lead as King of Currencies Despite Brexit Vote
(Reuters) Britain has extended its lead in the global currency trading business in the two years since it voted to leave the European Union, in another sign London is likely to continue to be one of the world’s top two […]
High Street Banks Could Go Way of Department Stores, Says Hedge Fund Tycoon Crispin Odey
(Telegraph) High street banks are starting to resemble ailing department stores such as House of Fraser by failing to keep up with online rivals, hedge fund tycoon Crispin Odey has said. London-based Mr Odey wrote in a letter to investors […]
Goldman: Here Are the 10 Stocks Most Loved by Hedge Funds — Including Microsoft
(CNBC) Goldman Sachs says the stocks most owned by hedge funds have soundly outperformed the market over the last 17 years. The bank’s hedge fund VIP (very important positions) list consists of the 50 stocks that “appear most often among […]
Activist Hedge Funds Aren’t Good for Companies or Investors, So Why Do They Exist?
(Harvard Business Review) Activist hedge funds have become capital market and financial media darlings. The Economist famously called them “capitalism’s unlikely heroes” in a cover story, and the FT published an article saying we “should welcome” them…..But they are utterly […]
Hedge Funds Redeem $8.9bn in June
(Opalesque) The Barclay Fund Flow Indicator saw redemptions from hedge funds hit a 20-month high in June, even amid worries over trade and interest rates. Hedge fund industry assets remained at an all-time high of $3.0 trillion, though the financial […]
A Hedge Fund’s Lesson for the World’s Biggest Sovereign Wealth Fund
(Bloomberg) “Banks are watching all their profitable activities — foreign exchange, consumer finance, small company lending — being taken away by fintech companies and peer to peer lenders,” hedge fund manager Crispin Odey recently told his investors. “They are starting […]
Online Brokerage Stocks Sink on JP Morgan’s Plan to Offer Free Trading
(CNBC) J.P. Morgan will launch its new service next week. All customers get 100 free stock or ETF trades in the first year. Those with Chase Private Client get unlimited trades…The move by J.P. Morgan aggravates a cold-blooded price war, […]