Author Archives: the HedgeCo News Team
Investors cheer shorting ban
Interactive Investor – Investors are cheering the temporary ban on shorting financial stocks which came into play on Friday morning. The Financial Services Authority introduced the four-month freeze on profiteering from falling share prices after the markets closed last night […]
Lloyds TSB Group: Financials soar after FSA bans short selling
Proactive Investors UK – The top thirty gainers for the London Stock Exchange (‘LSE’) read out like a roll call for the British and Irish financial industry, after the Financial Services Authority (‘FSA’) announced late last night that it was […]
Suits Fly at the Plaza
New York Post – The developers of the famed landmark are fighting back following two multimillion-dollar lawsuits filed against them by separate penthouse buyers within the past two weeks. Developer El-Ad Properties, which renovated the 101-year-old building to include pricey […]
Buffett’s “time bomb” goes off on Wall Street
Reuters – On Main Street, insurance protects people from the effects of catastrophes. But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe. When historians write about the current crisis, […]
Putnam shuts $15 billion money market fund
Reuters – U.S. asset manager Putnam Investments said on Thursday that it had closed its $15 billion (8 billion pound) Prime Money Market Fund due to redemption pressures. Putnam, a unit of Canada’s Great-West Lifeco, said in a statement that […]
SEC May Require Hedge Funds to Reveal Short Positions
Bloomberg – The U.S. Securities and Exchange Commission may require hedge funds to disclose their short-sale positions and plans to subpoena the funds’ communication records in an effort to stem turmoil in stock markets. Hedge funds and investors managing more […]
Funds Flee Morgan, Goldman for JPMorgan
New York Post – The JPMorgan Chase CEO is seeing the coffers of the bank he runs being filled with "billions of dollars a day" coming from hedge funds that have pulled their cash from Morgan Stanley and Goldman Sachs, […]
Coca-Cola: A Strong Stock in Shaky Times
BusinessWeek – Not many stocks were left standing when the Dow Jones industrial average crashed by 504 points on Sept. 15—the worst drop since the September 11 terrorist attacks. One stock that did stand firmly was Coca-Cola, the world’s largest […]
Hedge Fund Customers on Verge of Bankruptcy
Digital Chosunilbo – Many companies who bought forex hedge funds are on the verge of going bankrupt as a result of the plunging won. Many who bought Knock-In Knock-out (KIKO) option trading, which protects customers’ money when the exchange rate […]
Geneva private bank tops fund of hedge funds table
Wealth Bulletin – Geneva-based Union Bancaire Privée emerged as the largest fund of hedge funds provider, replacing UBS Global Asset Management at the top, with $56.8bn, according to the InvestHedge Billion Dollar Club. Funds of hedge funds showed the first […]
SEC Deploys Restrictions On Short Sellers
New York Post – The Securities and Exchange Commission met last night in emergency session to consider requiring hedge funds to disclose their short positions and institutional traders to secure their records in anticipation of subpoenas. Under the proposals, managers […]
China\’s Sinosteel to proceed with Midwest takeover
AP – Chinese steelmaker Sinosteel Corp. has taken control of 98 percent of Midwest Corp. and will proceed with compulsory acquisition of the Australian miner, Midwest said. In a brief statement Wednesday, Midwest said Sinosteel would recommend de-listing the company […]