Monthly Archives: September 2008
Hedge Fund Glory Days Fading Fast
New York Times – Making millions — or even a few billion — by managing a hedge fund has been a running dream on Wall Street in recent years. But suddenly even the masters of this $2 trillion universe are […]
Hedge fund’s Chanos-financials have seen the worst
Reuters – Hedge fund manager Jim Chanos, who makes money betting that companies’ stock prices will fall, said financial stocks have probably seen the worst and his fund has fewer short positions now than it did in the past. "We […]
Probe Says: IRS, Major Banks Helped Offshore Hedge Funds Avoid Billions in Taxes
New York (HedgeCo.Net) – A year-long probe launched by a U.S. Senate Committee has discovered that numerous Wall Street banks have assisted offshore hedge funds in evading millions of dollars in U.S. taxes. The Permanent Subcommittee on Investigations has concluded […]
KP Secutiries and Sophia Capital Join Forces to Raise Funds
West Palm Beach (HedgeCo.net) – Hedge fund managers KP Securities and Sophia Capital Securities announced that they are joining forces, enhancing the 2 firms ability to raise capital for alternative investment managers. The transaction between the two firms was finalized […]
Medvedev demands action to lure funds into Russian mkt
Forbes – Russia’s government and central bank must act to lure additional funds into its financial market, President Dmitry Medvedev said on Thursday. "The government and central bank should undertake all necessary measures to ensure inflows of additional funds into […]
Lehman, UBS Among Firms Involved in Tax Dodge, U.S. Probe Says
Bloomberg – Lehman Brothers Holdings Inc., UBS AG and Merrill Lynch & Co. are among Wall Street firms that concocted derivatives and stock-loan deals to help offshore hedge funds dodge hundreds of millions of dollars in U.S. taxes, according to […]
Getting Harder To Hedge
New York Post – Despite headlines about hedge funds that got decimated after making complicated bets on mortgages or energy, the most basic investment strategy of picking which stocks will rise and which will fall – known as long-short equity […]
FUND VIEW-Evolvence wary on Gulf utilities, likes banks
Reuters HK – Gulf utility stocks should be approached with caution given their need for high capital investment in the next few years and limited pricing power, the manager of the Evolvence MENA Hedge Fund said on Wednesday. But shares […]
Pension plans need advice on hedge funds
Reuters – The U.S. Labor Department should provide pension plans with guidance on investing in hedge funds and private equity, a report issued by the Government Accountability Office (GAO) said on Wednesday. The report found that pension plans are investing […]
Shocker! Steve Jobs Blames It All on Hedge Funds
New York Times – To the ranks of chief executives who blame those terrible meanies who run hedge funds for their troubles — Jeffrey Skilling at Enron, say, or Jimmy Cayne at Bear Stearns, or Patrick Byrne at Overstock.com — […]
Fairfax claims victory after broker fires analyst
Globe and Mail – Fairfax Financial Holdings Ltd. is claiming a victory in a long-running legal battle with U.S. hedge funds after brokerage firm Morgan Keegan & Co. Inc. revealed on Wednesday it has fired an analyst embroiled in a […]