Tag Archives: madoff
*Edit: Revised Madoff Feeder Fund Letter to Investors
A letter dated December 22, 2008 and sent from Fairfield Sentry Limited to its investors recently surfaced here. The fund, part of Fairfield Greenwich Group, had invested in excess of $7 billion in Bernard Madoff Securities, making it Madoff’s largest feeder fund investor. In wake of the surrounding facts which have surfaced in the case, we have received a rough […]
The third option for Hedge Funds: Increase Risk
Penny Hersher tries to analyze hedge fund ethics and how they affect regulation over on Huffington Post. There are a a couple things wrong with the assumptions that she makes, but I’ll wanted to discuss something that is taken for granted in this post. Penny assumes that the hedge fund has a high water mark and is down 20% from […]
Madoff Feeder Funds
Here’s a list of madoff feeder funds, and the amount of money was reported lost Fairfield Sentry Ltd ($7.3 billion)(1)(2) Rye Select Broad Market Fund LP ($3.3 billion)(1)(2) Kingate Global Fund Ltd. ($2.8 billion)(1)(2) Herald USA Fund & Herald Luxemburg Fund ($2.1 billion)(1)(2) Ascot Partners L.P. ($1.8 billion)(1) Gabriel Partners ($1.5 billion)(1) LUXALPHA SICAV- American Selection (1.4billion) (1) M-Invest Ltd (as much […]
Madoff & Credit Suisse – how did a major bank lose $925.9 mln?
The Times broke a story which based on “Internal forecasts” the reported losses of investments made into Madoff funds by Credit Suisse clients could reach $925 million. This follows the admission that Swiss bank UBS lost $1.4 billion. Credit Suisse are standing firm on their statement that they didn’t have anything to do with promoting or selling Madoff investments. While […]
Thierry de la Villehuchet Rollup
The big news today is that Thierrie de la Villehuchet, co-founder of Access International Advisors, and former Chairman and CEO Credit Lyonnais Securities USA was found dead in his Madison Avenue office. Initial reports point to suicide. Not a lot of information is public right now but following are some bullet points. Access International Advisors website claims that they “Specializes […]
News that Moves: Citadel, Madoff, Obama’s Stimulus Plan, Bush Auto Rescue, MS & GS EPS, & Shipping Rates
RCM Comment: Good news/bad news on the investment management front as it relates to the redemption/repatriation trade. Citadel’s decision to suspend redemptions until March will no doubt lead the way for others to do the same which should relieve some of the pressure on the markets. Of course, adhering to the cockroach theory (which states there is never only one) […]
Honduran Coup, Jump In Mortgage Rates
News That Moves Markets RCM Comment: In a world seemingly full of bad news, during a news cycle full of Madoff, Iran and North Korea, I thought you could use a little lift. I thought you would appreciate a story where good triumphs over evil and where a constitution is protected from a despotic leader. Finally, the people of […]