Author Archives: Editor
Simon Lack Says Hedge Fund Mirage Validated
ValueWalk – Simon Lack, author of “The Hedge Fund Mirage,” feels vindicated that many hedge fund managers have embraced some of his original comments critical of the hedge fund industry. In an interview with the Brandes Institute, the former CEO […]
Carlyle Reports Lower Profit on Weakness in Hedge Funds
NYT – The Carlyle Group reported lower third-quarter profit on Wednesday, weighed down by weakness in its hedge funds and certain other investments. Carlyle said its economic net income before taxes – a measure of profit that includes unrealized investment […]
Ex-Contrarian Executive Charged With Embezzling Millions
Bloomberg – Lawrence Herzing, the former controller of Contrarian Capital Management LLC, was arrested and charged with embezzling millions of dollars from the hedge fund, federal prosecutors said. Herzing, 45, of Greenwich, Connecticut, wired funds from Contrarian to accounts he […]
Wall Street Gives Congress Just 8% Job Approval Rating
New York (HedgeCo.Net) – The results of a Wall Street Midterm Elections Survey by ConvergeEx Group are in, showing that Wall Street disapproves of Congress, Obama, and Washington in general. “We are looking at the worst relationship between the financial […]
Hedge fund billionaire, unions trade blows in Phoenix pension fight
Reuters – A push to reform Phoenix’s retirement system has become the latest front in a battle between union-backed groups and a Texas hedge fund billionaire over the future of America’s public pensions. Hundreds of thousands of dollars, much of […]
Hedge Fund Managers Battle Long Money In Russian Markets
Forbes – Russia has become a gamblers den. From a top-down view, long term money is largely bearish on Russia. The bravest foreign fund managers are picking at undervalued stocks, with weak conviction. “We’re underweight Russia and have been underweight […]
Hedge Fund VIX Wagers Tip Toward Turbulence After Selloff
Bloomberg – One of the surest bets in the U.S. stock market over the last 2 1/2 years, speculating on tranquility, is being abandoned. For the first time since 2011, the balance of futures (VIX) owned by hedge funds and […]
Hedge funds muscle into reinsurance, attracting doubters
Reuters – Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but skeptics are questioning whether they will stick around ahead of the next “big one” as underwriting returns fall. […]
The Number Of Billionaires Has Doubled Since The Financial Crisis
New York (HedgeCo.Net) – Economic inequality has reached extreme levels according to a 140 page Oxfam report (pdf). According to the charity, the number of billionaires (US$) worldwide totaled 1,645 people by March 2014 – up from 793 billionaires in March […]
Quant Hedge Fund Archipel Shuts After Biggest Investor Pulls Out
Bloomberg – Archipel Asset Management AB, a Swedish hedge-fund firm that makes trades based on computer algorithms, is closing after its biggest investor pulled out. The stock-trading hedge fund founded in 2007 is returning cash to investors following the decision […]
Activist Hedge Fund Files Against Kabel Deutschland
New York (HedgeCo.Net) – One of Paul Singer’s activist hedge funds, Elliott Associates, L.P., has filed a lawsuit against Kabel Deutschland Holding AG and Vodafone, the WSJ reports. Elliott, which has a 13.5% stake in Kabel Deutschland (KDG) via the […]
Hedge Fund Bets on Worst Industry in ‘Detested’ Country
Bloomberg – Lakewood Capital Management LP is betting on OAO Lukoil (LUKOY), Russia’s second-largest oil producer, after shares slumped on concern about the nation’s conflict with Ukraine and a selloff in energy stocks. “Admittedly, few investments sound less appealing right […]