Monthly Archives: April 2018
Amazon Wouldn’t Have Happened if It Weren’t for Bernie Madoff
(CNBC) Jeff Bezos reportedly confided to former AOL president Ted Leonsis that he quit his job at the hedge fund D. E. Shaw because Bernie Madoff “was kicking my ass.”….The Amazon idea came to Bezos as he was researching online […]
Sears CEO Seeks to Buy the Retailer’s More Valuable Parts
(New York Times) The CEO of Sears is its largest shareholder and a major lender to the company….The chief executive, Edward S. Lampert, said the hedge fund he controls would be willing to buy Sears’s real estate holdings, its appliance-parts […]
Meditor Capital Raises Stake in UK’s Carpetright to Almost 30 Percent
(Reuters) Hedge fund Meditor Capital Management, already Carpetright’s (CPRC.L) biggest shareholder, has raised its stake to just under the threshold at which it would be required to make a formal takeover offer for the struggling British retailer. To read this […]
Goldman Makes First Hire in Cryptocurrency Markets Unit
(CNBC) Goldman Sachs enlisted Justin Schmidt, a former trader, to be the first head of digital asset markets in the company’s securities division. Schmidt began his role on April 16. To read this article:
High-Profile Investors Bet on Stocks Tied to Millennials: Sohn Conference
(Reuters) Hedge fund managers at the high-profile 2018 Sohn Investment Conference in New York pitched stock ideas on Monday that they said should benefit from the growing clout of the millennial generation, ranging from online food ordering to homebuilders. John […]
Some Funds Bet on Quick Rebound in Russia’s Sanctions-hit Markets
(Reuters) Less than two weeks after the latest round of U.S. sanctions plunged Russia’s rouble to 16-month lows, some global funds have already stepped back in to buy rouble-denominated sovereign bonds and take advantage of the weaker currency. Early this […]
Crypto Billionaire Sued by Sequoia After Deal Falls Apart
(Bloomberg) A legal dispute between Zhao Changpeng, founder of the world’s largest cryptocurrency exchange, and a unit of Sequoia Capital is offering a rare glimpse into one of the digital-asset industry’s fastest-growing startups. To read this article:
Harvest Global Investments Becomes First Chinese Asset Manager To Partner With eVestment
(Opalesque) Harvest Global Investments, the Asian and Chinese markets specialist asset manager, has become the first Chinese financial services firm to sign an agreement with eVestment to create efficiencies and bolster the effectiveness of its global databases, facilitating communication with […]
Opalesque Exclusive: Hedge Funds Go Long Tech At Sohn
(Opalesque) Top tier hedge fund managers gathered in New York to give their best ideas at the Sohn Conference today. Overall managers seemed more confident about their picks than they have in previous years. Citing recent controversy, DoubleLine’s Jeff Gundlach […]
The Man Who Could Eat Half the Profit in Fund Management
(Bloomberg) In June 2016, he laid bare the asset management industry’s dirty little secrets: actively managed products haven’t performed better than their benchmarks; firms have grown too big as they focus on gathering assets; and fees have been structured to […]
Investors pull USD9.45bn from hedge funds in March
(Hedgeweek) Investors redeemed an estimated net USD9.45 billion from hedge funds in March. Total Q1 asset flows remain positive at +USD14.33 billion, bringing overall industry AUM to USD3.32 trillion, according to the March 2018 eVestment Hedge Fund Asset Flows Report. […]
SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships With Investment Professionals
(HedgeCo.Net) The Securities and Exchange Commission has voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of […]