Author Archives: the HedgeCo News Team
Andrew Lahde’s Farewell Letter
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would beentirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts inprevious letters have unfolded or are in the process […]
California Hedge Fund Manager Charged with “Porfolio Pumping”
New York (HedgeCo.Net) – The Securities and Exchange Commission charged San Francisco-based MedCap Management & Research LLC and its principal Charles Frederick Toney, Jr. with defrauding investors via “portfolio pumping.” “Fund investors relied on MMR and Toney to abide by […]
Bankers take a billhook to the hedge funds
Times Online – Hedge fund managers are paranoid. And they are right to be. The other day I had lunch with a senior financial official whose view of hedge funds was simple. “They were a con. The returns were all […]
Hedge Fund Woes: Troubles at Citadel, Highland
CNBC – Ongoing hedge fund losses and liquidations spooked markets Wednesday, and some of the biggest names in the mix now are Citadel Investments and Highland. Hedge funds had their worst month ever in September, with average losses of 6.2 […]
Deep recession fears thrash Asia stocks
Reuters – Asian stocks plummeted, led by an 11 percent drop on Japan’s Nikkei, and oil prices dropped to a one-year low on Thursday as fears grew of a more protracted and sharp global slowdown than initially expected. Major European […]
Citadel Hedge Fund Down for the Year
New York (HedgeCo.Net) – The largest hedge fund run by Citadel Investment Group has fallen 30 percent this year stemming from losses tied to convertible bonds. The $10 billion Kensington Global Strategies Fund has been hit hard by the credit […]
GlobeOp Performance Remains Strong
West Palm Beach (HedgeCo.net) – Hedge Fund provider GlobeOp Financial Services S.A. published its Interim Management Statement covering the period since 30 June 2008. As a group, GlobeOp’s clients appear to have out-performed the industry. "I am pleased to report […]
SEC to Make Hedge Funds Report Short Sales Until 2009
Bloomberg – The U.S. Securities and Exchange Commission extended a rule forcing hedge funds to tell the agency about short-sale positions amid concerns investors bet against companies after spreading false rumors they will fail. Investment managers who oversee more than […]
Survey Shows Nearly 75% of Single Family Offices Invest in Hedge Funds, With Plans to Increase
West Palm Beach (HedgeCo.net) – The alternative investment sector will continue to benefit from increasing asset allocations from Single Family Offices (SFOs), according to "On the Rise," the latest research report sponsored by CPA firm Rothstein Kass. The white paper, […]
Hedge Fund takes offer for Epicor to shareholders
Reuters – Hedge Fund Elliott Associates LP on Wednesday took its $529 million cash offer for Epicor Software Corp directly to shareholders, two days after it was snubbed by the business software maker’s board. Elliott said it, through a unit, […]
US shares should get an ‘Obama bounce’
Telegraph.co.uk – The American Presidential election next month may have significant implications for investors because the US remains by far the largest economy in the world. Senators McCain and Obama have articulated differing approaches to taxes, trade, foreign policy and […]
Sarkozy urges clampdown on hedge funds, offshores
Reuters – President Nicolas Sarkozy called at a European Union summit on Wednesday for a clamp-down on hedge funds and offshore centres as part of efforts to better regulate the world financial system. "I would propose a simple principle, that […]