Yearly Archives: 2008
The Financial Page Greasing the Slide
New Yorker – “Death by a thousand cuts.” “Fire-sale liquidation.” “A vortex of selling.” No matter how people described the market collapse that hit a month ago, the message was the same: it felt like there was nowhere to go […]
Desjardins pulls funds amid market plunge
Globe and Mail – Desjardins Group is winding down hedge fund-linked products, as Canada’s largest financial co-operative joins life insurers in dealing with problems in guaranteed investments that have been pounded by the downturn. Montreal-based Desjardins is shutting down lines […]
Citadel hedge fund denies Fed probe
Business Day South Africa – Examiners with the US Federal Reserve have questioned Wall Street counterparties about their exposure to debt and other holdings of Citadel Investment Group, The Wall Street Journal reported at the weekend. Citadel denied the report. […]
More weak data, hedge-fund selling seen this week
Arlington Heights Daily Herald – In a typical recession, stocks start recovering about six months before the economy does. The crisis the United States is in right now, however, is anything but typical: Lending is frozen, hedge-fund selling is happening […]
Hong Kong shares lower on recession fears, hedge funds redemption worries
Reuters HK – Share prices were sharply lower at mid-morning, with the key index briefly slipping below the 12,000 level, on global recession fears and worries about hedge fund redemptions. Dealers noted concerns that the Japanese yen’s surge against the […]
The Hedge Fund Meltdown: Another Reason Wealth Needs Spreading
AlterNet – Jack Nash, a key pioneer of the global hedge fund industry, passed away this past summer. Much of the rest of the industry may soon join him six feet under. The industry, one insider told the Financial Times […]
Cox Gives Support for Merger of SEC, CFTC
New York (HedgeCo.Net) – SEC Chairman Christopher Cox said he was all for a merger between the Commodity Futures Trading Commission and the Securities and Exchange Commission. Hopping on board with U.S. Treasury Secretary Henry Paulson, this was the first […]
This Hedge Fund Manager Tries to Short Himself: Michael Lewis
Bloomberg – The first time I sensed the alarming change in my soul was when I caught myself, five minutes after the market open, reaching for a reefer. Trust me, I didn’t amass legacy wealth (underestimated by Forbes magazine in […]
Iraqi Funds: “Business as Usual”
West Palm Beach (HedgeCo.net) – Iraq and the Babylon Fund sailed fairly unscathed through the panicky financial markets in September, according to CEO Robert Torkelund. “Our strategy to focus on sticky money instead of any cheap hot money flow, has […]
Whitebox hedge fund puts halt to cashing out
Minneapolis Star Tribune – Hedge fund manager Whitebox Advisors won’t let customers cash out, according to a national publication that follows the lightly regulated industry that manages money for affluent individuals and institutions. The Minneapolis firm, which runs about $4 […]
Settling down
Times of Malta – The situation in the international financial markets, although still displaying signs of uncertainty, seems to be settling down. Governments in the major economies, US, UK, Germany, France and Italy, no longer seem to be chasing fairies […]
The Risks and Rewards of Investing in a Bear Market
Time – Benjamin Graham was well prepared for the Crash of 1929. The now legendary investor had hedged his bets: he would buy preferred stock in a company and sell short common stock in the same company. When stocks crashed […]