Monthly Archives: September 2009
Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say
Bloomberg – Paul Tudor Jones, the billionaire hedge-fund manager who outperformed peers last year, is wagering that Goldman Sachs Group Inc. and Morgan Stanley got it wrong in declaring the start of an economic recovery. Jones’s Tudor Investment Corp., Clarium […]
Korea Beral shares rally on Icahn M&A hopes
Reuters – Shares in Korea Beral soared more than 11 percent after a unit controlled by activist investor Carl Icahn raised its stake in the car parts maker, fanning speculation about a possible unsolicited takeover bid. F-M International Ltd, which […]
Barneys eyes restructuring or bankruptcy -report
Forbes – Barneys New York Inc is eyeing a debt restructuring or bankruptcy filing under which its owner, Dubai’s Istithmar World Capital, may lose control of the high-end retailer, Bloomberg reported, citing people familiar with the matter. Hedge fund Perry […]
Sparx Group Opens Hedge Fund With Soros Strategy
Bloomberg – Sparx Group Co., Asia’s biggest hedge-fund firm, will open its first global macro hedge fund to new investors as the company departs from its traditional focus on equities to return to profit. Cayman Island-based Sparx Global Markets Fund […]
Two equity firms buy Lehman’s money management unit
International Herald Tribune – Lehman Brothers said Monday that it would sell for $2.15 billion much of its money management business, including its prized Neuberger Berman asset management unit, to Bain Capital and Hellman & Friedman. The sale of the business, […]
Fund Managers Rattled as Rescue Plan’s Rejection Shakes Markets
Bloomberg.com: UK & Ireland – “I’ve never lived through something like that,” Stephen Jarislowsky, the 83-year-old chairman and founder of Montreal-based money manager Jarislowsky Fraser Ltd., said yesterday about the past month on Wall Street. “I don’t even think the […]
Cameron hit by new hedge-fund row as Tory Party conference begins
Times Online – The Tory party conference got off to an embarrassing start today after it emerged that the Conservatives have taken large donations from hedge-fund managers whose firms made vast sums of money from taking bets in some of […]
Wall Street Finance “Banking” On Hollywood?
CNBC – The Wall Street fallout is having aftershocks throughout the economy, but believe it or not, the entertainment industry is having no problem securing bank-financed credit. Sure, it’s not boom time, but the fact that media companies are able […]
They Just Don’t Get It
Washington Post – That is the technical economic term that best sums up a day in which the House of Representatives refuses to pass a $700 billion rescue plan pushed by the White House and congressional leaders from both parties, […]
Petters resigns amid probe
Pioneer Press – Tom Petters, who spent two decades building the Petters Group Worldwide into a far-flung empire with $2 billion in sales and 3,200 employees, resigned Monday amid a federal investigation into allegations of fraud at one of his […]
Asia Hedge Funds, Among Worst Performers, Close at Faster Rate
Bloomberg – Asia hedge-fund closures jumped 19 percent this year, with the industry set to shrink for the first time as clients withdraw more money after funds in the region underperformed rivals in the U.S. and Europe. “It is likely […]
Former hedge fund manager Michael Lauer found guilty
A federal judge in Miami has found that former hedge fund manager Michael Lauer defrauded investors out of more than $500 million between 1999 and 2002. U.S. District Court Judge Kenneth A. Marra, in a 67-page order issued last week, […]