Monthly Archives: April 2011
This New York Investment Banker Just Paid $5000 For A Cab Ride From New York To L.A.
Business Insider – An investment banker called John Belitsky and his pal Dan Wuebben, who decided on a whim almost two weeks ago, to travel — by cab — from New York to Los Angeles. Belitsky’s father had been a […]
Hedge Funds Buy Gold & Silver, Sell Euro & Tech
Barron’s – Hedge funds and other large speculators were buying precious metals last week while selling tech and euro futures, according to Bank of America (BAC) Merrill Lynch. The report found that large hedge fund positions moved out of the […]
Fraudulent Beverly Hills hedge fund caught before it attracted investors, SEC says
Washington Post – The SEC is still trying to live down the Bernard Madoff affair, in which it failed to stop a $65 billion fraud. But if the agency’s allegations in a recent enforcement case are true, it just notched […]
Franklin Templeton’s Family Firm Moves Hedge Fund to Singapore on Currency
Bloomberg – Tano Capital, the family office of the founders of Franklin Templeton Investments, opened a unit in Singapore as it expects investors in its hedge fund to benefit from a strong local currency. Tano Capital is changing the jurisdiction of […]
Macquarie joins Asia’s billion-dollar hedge fund club
Reuters – Macquarie Asian Alpha Fund has quadrupled assets to more than $1 billion since the start of 2010, according to an investor letter seen by Reuters, joining a small club of hedge funds managing $1 billion or more in the […]
Obama love on Wall Street
Politico – Though the Wall Street Journal reported this morning on some hedge fund managers’ flight from President Obama, a Democrat tells me that next quarter’s fundraising numbers may tell a different story. President Obama headlined a Harlem dinner March […]
Diamond Lake Hedge Fund Founder Kim Sued Over $2 Million in Compensation
Bloomberg – Dow Kim, a former Merrill Lynch & Co. head of trading and investment banking, was sued over $2 million in compensation claimed against the Diamond Lake Investment Group hedge fund venture that he started and dropped. Namuk Cho, […]
Rajaratnam Trial: The Long Odds of an Acquittal for Hedge Fund Millionaire
New York (HedgeCo.net) – After nearly seven weeks of testimony, the high-stakes insider trading trial of hedge fund manager Raj Rajaratnam has been handed to a federal jury in New York’s Southern District. Although there was no conclusion on the […]
Hedge Fund People: Deloitte Appoints Bob Contri as US Head
New York (HedgeCo.net) – Hedge fund industry group Deloitte has appointed Bob Contri as leader of its financial services industry group in the United States. Contri currently serves as Deloitte’s leader to the banking and securities sector. “We are in […]
Madoff Said Picower May Have Suspected Fraud, Henriques Writes
Bloomberg – Bernard L. Madoff believed that one of his billionaire investors, Jeffry Picower, may have suspected him of running a Ponzi scheme, according to a book by Diana B. Henriques. Madoff, serving a 150-year term for the largest Ponzi […]
Museum to boost math by adding fun, subtracting bore
Washington Times – Former hedge-fund quantitative analyst Glen Whitney is planning to open the only museum in the United States dedicated to mathematics. MoMath, which will center on the wonders of mathematics and its connections with art, science and finance, is […]
The Warren Buffett-hedge fund bet tightens
CNN Money – We’re three years into Warren Buffett’s 10-year bet with the hedge fund community, and the race has narrowed. For the second year in a row, Buffett’s horse in the contest — an S&P 500 index fund — […]