Monthly Archives: September 2013
Event-Driven Hedge Funds Dominate Inflows and Performance
24/7 Wall st – The phrase “A rising tide lifts all boats” is frequently used around Wall Street when the good times roll. It basically helps to explain why in a good market almost everything works, with little regard for […]
Hedge Funds Cut ICE Brent Crude Net-Longs to 12-Week Low
Bloomberg – Hedge funds and other money managers cut bullish bets on Brent crude to the lowest level in 12 weeks, according to ICE Futures Europe. Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 167,745 lots in the […]
Hedge funds show strong confidence in European shares
Reuters – Hedge funds’ negative bets on European shares have tumbled to a level not seen since before the global financial crisis began in 2007, signalling their strongest conviction for years that the market will rise further. It means long/short […]
Fair Value Considerations Related to the Accounting for Embedded Derivatives
User Contributed News – Accounting guidance around embedded derivatives is a reasonably mature topic with SFAS 133, Accounting for Derivative Instruments and Hedging Activities, released in 1998 (now ASC Topic 815). Still, this remains a complex area of accounting due […]
Defrauding Hedge Funds: Madoff’s Accountant Fudged The Numbers, SEC Says
New York (HedgeCo.Net) – The SEC has charged Bernard Madoff’s longtime accountant for his role in the creation of false books and records used in the massive Ponzi scheme. “Paul Konigsberg’s assistance resulted in the formation of inaccurate trade confirmations each […]
Soros Adviser Turned Lawmaker Sees Crisis by 2020
Bloomberg – Takeshi Fujimaki, a former adviser to billionaire George Soros and now a member of Japan’s upper house of parliament, said a fiscal crisis in Asia’s second-biggest economy is inevitable and neither a higher sales tax nor the 2020 […]
New York Hedge Fund Manager Buys Florida Panthers For $240 Million
New York (HedgeCo.Net) The CEO and founder of New York hedge fund Virtu Financial, an electronic trading firm with offices in the U.S., Singapore and Ireland, has bought the Florida Panthers for $240 million, according to sources. “We understand that the […]
In This Battle Arena, Warriors Are Armed With Algorithms
NYT – Michael Chang, 30 years old, is the sort of guy that BattleFin, a recruitment firm searching for hedge fund talent, wants to attract. Six years ago, at a Foxconn plant in Guangdong, China, Mr. Chang used data analysis […]
Event driven only hedge fund strategy in the black for August says Preqin
Opalesque – Preqin’s Hedge Fund Analyst database reveals that event driven was the only hedge fund strategy to produce positive returns in August (+0.49%), with all other single-manager hedge fund strategies falling back into the negative, with a benchmark return […]
Jon Little’s Northill Capital swoops on hedge fund firm
CityWire – Northill Capital, the group founded by former BNY Mellon vice chairman Jon Little, has launched a takeover bid for Alpha Strategic +, which finances hedge funds. Alpha Strategic is already 51% owned by Northill, and has revealed that […]
Puerto Rico’s fat yields luring hedge funds, distressed buyers
Reuters – Puerto Rico’s municipal tax-free bonds yields are luring a new class of buyers: hedge funds and distressed debt investors betting the Caribbean island will keep servicing its massive debt. Trading volumes in Puerto Rico general obligation bonds, which […]
Hedge Funds Are Testing The Advertising Waters
New York (HedgeCo.Net) – Hedge funds seem to be wary of being the first to advertise under the new JOBs Act. Evan Rapoport, founder of industry portal HedgeCo.net, said yesterday. “While hedge funds are finally allowed to advertise, we believe that funds […]