Yearly Archives: 2008
Legg Mason unit eyes distressed sales: report
Tehran Times – Permal Investment Management, the hedge fund investment division of U.S. asset manager Legg Mason Inc, is aiming to raise up to $500 million to take advantage of a boom in distressed sales of hedge fund holdings, the […]
Russian Trader Looses $50 Million In Risky Trades
West Palm Beach (HedgeCo.net) – Moscow’s The Statesman reports that a Russian rogue trader lost his investment bank up to $50 million in risky trades that went wrong in the financial crisis, the Vedomosti business daily reported today. Quoting unnamed […]
Hedge Funds: How the Smart Money Looked Dumb
TIMES – The ups and downs of the Dow are making Wall Street’s so-called "smart money" look dopey. Hedge funds lost nearly $300 billion due to bad investments in the first nine months of the year, according to an analysis […]
Hedge Fund Performance for the Third-Quarter Lowest Since 2003
West Palm Beach (HedgeCo.net) – Morningstar, Inc. reported that hedge funds reported the worst losses in the Morningstar Hedge Fund Index’s history, which began in January 2003. In September, the Morningstar 1000 Hedge Fund index dropped 7.87%, more than double […]
Why hedge funds are crying
BBC – It may be a case of shutting the stable door after the thundering herd has bolted, but law and order is being brought to the wild wild west of global financial markets. G Brown will, for example, in […]
Hedge funds target corporate lending as banks dry up
Reuters – An unprecedented cash crunch is choking the ability of banks to lend and creating an opportunity for hedge funds to launch, or ramp up corporate lending facilities. Companies that have relied on bank borrowing to grow, or even maintain […]
Petters Files for Bankruptcy, Hedge Fund Seeks Answers
New York (HedgeCo.Net) – Petters Group Worldwide has filed for Chapter 11 bankruptcy protection after feds launched a probe into an alleged $3 billion scam that was said to be orchestrated by the founder. The subsidiary company under investigation is […]
Taylor Wimpey slips as hedge fund sells shares
Guardian.co.uk – Housebuilder Taylor Wimpey has slipped more than 8% on news that Toscafund, the hedge fund run by former bank analyst Martin Hughes, has sold a chunk of shares in the business. Tosca, which is said to have lost […]
Overstock Settles After Gradient Apologises
West Palm Beach (HedgeCo.net) – Overstock.com Inc. announced it has settled all claims against Gradient Analytics and its principals and officers named as defendants in Overstock’s defamation case filed in Marin County, California. Overstock.com chairman and CEO, Patrick Byrne said, […]
Edge Launches New Alternative Investment Site
West Palm Beach (HedgeCo.net) – Hedge fund advisor Edge Capital Partners, LLC has launched a new website (www.edgecappartners.com) highlighting the firm’s offerings in the areas of asset allocation strategies, benchmarked investment options, corporate mergers and acquisitions and finance strategies, wealth […]
UBP cuts hedge funds, sees industry shrinking
Reuters – Union Bancaire Privee has cut its exposure to hedge funds and industry performance has disappointed, while other assets look more attractively-priced, a top executive said. Christophe Bernard, the Swiss-based firm’s head of asset management, also told the Reuters […]