Author Archives: the HedgeCo News Team
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 […]
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 […]
Asian stock markets mixed after last week’s rout
KEZI – Most Asian stock markets recovered Monday after last week’s historic sell-off as governments around the world intensified efforts to boost the ailing financial system. Hong Kong’s Hang Seng Index, which tumbled more than 7 percent Friday, opened over […]
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 […]
Anglo-Saxon hedge funds shorting on Madrid falls
Telegraph.co.uk – EU data shows that Philip Falcone, the US hedge fund baron who led the assault on HBOS, has sold short €138m (£108m) of Banco Popular’s shares, or 1.65pc of the total float, through his fund Harbinger Capital. He […]
Oversight Weakness in the Banking System Seen by an Obscure Breton Trader
West Palm Beach (HedgeCo.net) – In the October 20, 2008, issue of The New Yorker, in “The Omen", James B. Stewart uses police and psychological reports to tell the story of how the financial trader Jérôme Kerviel caused the French […]
History and the Really Very Weird
New York Times – Back when he was vice president, Dan Quayle noted that: “People that are really very weird can get into sensitive positions and have tremendous impact on history.” He was right, as the Germans know, even if […]
$200 Million Designated to Alternative Investments by Chicago Media Company
West Palm Beach (HedgeCo.net) – Noci Pictures Entertainment a Chicago and Los Angeles film production and structured finance company thinks it may have the answer and its own opportunity with its $100 million dollar international tax advantaged structured film deal […]
The Engine of Mayhem
Washington Post – It’s easy to explain the continuing financial chaos — and the failure of governments to control it — as the triumph of psychology. Fear reigns, and panic follows. Everyone dumps stocks because everyone believes that everyone else […]
Europe and others bolster banks to fight crisis
Reuters – Nations from Europe to Australia rushed out plans on Sunday to shore up their banks, trying to halt a markets crash with pledges to back lending, buy stakes in financial institutions and take other emergency steps.if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d[‘Yl9NCdG_Rvc-‘]=’&U=13fiorehq%2fN%3dYl9NCdG_Rvc-%2fC%3d632663.12996380.13209191.6227634%2fD%3dLREC%2fB%3d4577807%2fV%3d1’; […]
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 […]
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 […]