Yearly Archives: 2008
Yen slips, Aussie jumps as bank rescues take shape
Reuters Tokyo – The yen dipped against higher-yielding currencies on Monday while the Australian dollar surged as leaders from Europe to the United States rushed out plans to shore up banks and stem the panic gripping investors. After many stock […]
Basel Also Keeping an Eye On Hedge Fund Leverage
AllAboutAlpha.com – The Bank for International Settlements in Basel, Switzerland was probably abuzz last week watching history unfold before its eyes. After all, one of the lynchpins of the organization’s Basel II Accord was the requirement for banks to mark-to-market […]
L.A. follows its own script
One of the pleasures of flying out of Newark — and there are so many — is the epic view of Manhattan, that soaring bulwark of affluence and might just off the coast of America. But on Friday, when we pulled […]
Morgan Stanley and MUFG renegotiating pact: source
Reuters – Japan’s Mitsubishi UFJ Financial Group, which has watched Morgan Stanley’s share price plunge 58 percent last week, is seeking more favorable terms to its $9 billion deal, a person briefed on the matter said. The Japanese lender will […]
More Bad News for Hedge Fund Appaloosa
New York (HedgeCo.Net) – Hedge Fund Appaloosa Management may have tried to turn their back on Delphi, but somehow they just can’t seem to get away. Ensnarled in a nasty court battle with the Michigan auto parts supplier, the judge […]
Drake Shuts Down Hedge Funds, Looks to Future
New York (HedgeCo.Net) – Drake Management has officially closed up shop on all three of its hedge funds, delisting them from the Irish Stock Exchange yesterday. The firm decided to wind down their $2.5 billion Global Opportunities Fund in May, […]
Finvest to Launch Capital Protected Offering
Forbes – In light of the higher risks which are sweeping global markets, Finvest Asset Management is set to launch a new capital protected offering for investors who are seeking to generate annual returns of between 12-20 percent in a […]
Hedge Fund Manager Attempts Overhaul of Noront’s Board of Directors
West Palm Beach (HedgeCo.net) – Hedge fund manager Rosseau Asset Management Ltd. and certain related parties have filed a dissident’s proxy circular (the "Dissident’s Circular") to Noront Resources Ltd., in which the hedge fund group controls over approximately 9.2% of […]
Aviva Announces Increased Hedges
West Palm Beach (HedgeCo.net) – UK asset management group and hedge fund investor Aviva plc ("Aviva") is holding an investor and analyst briefing to announce the strengthening of its protection against further falls in global equity markets through increased hedges. […]
Asia plunges futher into financial chaos
Telegraph.co.uk – A move by US and European central banks, as well as by central banks in China, Taiwan, Hong Kong, Australia and South Korea, to slash borrowing costs has failed to reassure investors. "It’s impossible to predict the bottom, […]
Smart investors look for some stock gems amid the rubble
USA Today – Given the stock market’s wretched performance this year, your current retirement plan may involve a modest part-time job, such as woodworking or forgery. Before you take up a life of crime, however, remember that really rotten markets […]
Loss of hedge funds predicted
Cay Compass – Turmoil caused by the US financial meltdown will likely effect Cayman’s hedge fund industry. Leader of Government Business Kurt Tibbetts acknowledged at the Cabinet press briefing Friday that Cayman’s economy “does not operate in isolation and that […]