Monthly Archives: June 2017
Russia Can ‘Live Forever’ With $40 Oil in Warning to Hedge Funds
(Bloomberg) A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds. “We’re actually ready to live forever with the oil price at $40 or […]
Third Point Hedge Funds Gain in May
(Reuters) Billionaire investor Daniel Loeb’s hedge funds continued to make money in May, leaving its Third Point Partners L.P. fund up 9.9 percent for the year and its Third Point Ultra Ltd. up 16.1 percent, according to an investor update. […]
Activist Investor to Sue After Losing Proxy Fight With Taubman
(New York Post) Activist investor Jonathan Litt is not ready to admit defeat in its battle against mall REIT Taubman Centers…. Despite months of urging from Litt’s Land and Buildings hedge fund, preliminary results from Taubman’s annual meeting Thursday showed […]
Court Agrees to Limit SEC Case Against FBI Informant
(New York Post) A former Long Island broker — one of the FBI’s most successful informants ever — took a major step on Thursday to winning his second battle against Uncle Sam….The former broker, Guy Gentile, who turned rogue informant […]
Campaign Promises and Political Reality
(Harvest) President Donald Trump won the presidency with a platform focused in part on bringing manufacturing jobs back to the United States, promising to usher in a new “Industrial Revolution.” In 2016, manufacturing accounted for approximately 12% of U.S. GDP, […]
If It’s Groundhog Day, Why Aren’t Investors Learning the Lessons?
(Harvest) For seasoned financial market professionals, the last few years have been a bit like the iconic 1993 movie Groundhog Day: similar patterns seemingly repeating themselves over and over again. In that movie, Bill Murray’s character Phil learned from each […]
Leon Cooperman: I Settled With the SEC Because ‘I’m Wealthy’ and an Easy Target
(HITC Business) Fresh off a settlement with government regulators regarding insider trading charges, hedge fund titan Leon Cooperman said he would have won the case but chose to settle instead. Cooperman’s firm agreed earlier this month to a $4.9 million […]
JPMorgan Trading Revenue on Pace to Drop 15% This Quarter
(Bloomberg) JPMorgan Chase & Co. said revenue from its trading businesses has dropped 15 percent so far in the second quarter from the same period a year ago because of low market volatility. Fixed-income trading is down for the first […]
Deerfield Management Execs Deny Insider Trading Charges
(FINalternatives) Deerfield Management executives Rob Olan and Ted Huber have pled not guilty along with two others to accusations they participated in an insider trading scheme that relied on information leaked by an employee of the U.S. Centers for Medicare […]
One of the Most Anticipated Hedge Fund Launches of 2017 Keeps Raising Money
(The Business Insider) One of the most anticipated hedge fund launches of the year continues to rake in fresh money, despite a rough start in terms of performance. Ben Melkman’s Light Sky Macro dropped about 3.5% from March through the […]
Billionaire Steve Cohen’s New Hedge Fund May Be Even Bigger Than His Last
(Fortune) Hedge fund billionaire Steven Cohen was banned from managing outside money until 2018 after an insider trading scandal swept through his former firm SAC Capital. Now, Cohen not only appears poised to return to the hedge fund industry, but […]
JP Morgan Asset Management Partners With Morningstar On Alternative Strategy Launch
(FINalternatives) JP Morgan has reportedly teamed with Morningstar to launch a new strategy that will provide investors with access to a synthetic basket of liquid alternative funds. To read this article: