Monthly Archives: June 2012
Rajat Gupta secretly served Rajaratnam’s hedge fund: Prosecution
Daily News India – Prosecutors in the insider-trading trial of Rajat Gupta have suggested he leaked information about Goldman Sachs to convicted hedge fund billionaire Raj Rajaratnam because he was secretly serving as an executive of his Galleon Group. Indian-American […]
Insight – Gains that funds made on bets by JPMorgan whale may be limited
Reuters – JPMorgan Chase & Co’s losing bets in credit derivatives were so huge that one of its traders was known as “the London whale” and the hedge funds that attacked him have often been portrayed as harpooners who made […]
With Megadonations for Both Parties, a Hedge Fund Hedges Its Political Bets
MJ – Among the 15 top donors to outside political groups this election cycle, only two happen to work for the same company: James Simons, the billionaire founder and chairman of the hedge fund Renaissance Technologies is a prominent Democrat. […]
Ontario Power Authority offers U.S. hedge fund $82.3 million to settle Mississauga power plant dispute
The Star – The Ontario Power Authority offered to pay a U.S. hedge fund $82.3 million to settle a lawsuit over the province’s decision to cancel construction of a gas-fired power plant in Mississauga. But the hedge fund rejected the […]
SFO Aiding SEC In Sovereign Wealth Fund Probe
WSJ: U.K. prosecutors are helping the U.S. Securities and Exchange Commission with inquiries into whether financial firms violated foreign bribery laws in their dealings with sovereign-wealth funds. “We’re talking to the Americans about various issues,” Richard Alderman, director of the […]
Why Barack Obama’s Hedge Fund Tax Hike Won’t Work
CNBC: Barack Obama’s plans to reduce the budget deficit by raising taxes on hedge fund managers show that he’s more interested in political theater than responsibly dealing with the budget. When Obama says he wants to end the “tax break” […]
New Investment Strategy: Preparing for End Times
Investment professionals have a new pitch: The sky could soon be falling. While Greece took a step back from the brink on Wednesday, the possibility of a default remains a fear. Europe’s debt crisis, as well as natural disasters and […]
Funds Slam WaMu Trading Investigation
WSJ: Washington Mutual equity investors have an “ample basis” to push ahead with allegations that major hedge funds engaged in improper trading during one of the largest bankruptcies in U.S. history, an attorney for WaMu shareholders said Wednesday. Appaloosa Management, […]
Hedge Funds Max Out on China Short Plays
WSJ Blog: Shorting U.S.-listed Chinese companies is so yesterday. That’s the opinion of some hedge fund managers who’ve made money and are struggling to place fresh bets. Chinese firms listed in the U.S. have made headlines in recent months amid […]
NY Teachers fund puts hedge funds on hold
HFMWeek: The $42.3bn Teachers’ Retirement System of New York has shelved plans to invest in the hedge fund space, HFMWeek has learned. The investment board, which has been discussing potential changes to the retirement system’s asset mix, had previously been […]
Brevan Howard Bets Against Euro as Greece Comes to Pivot Point
Wall Street Journal: Brevan Howard Asset Management LLP, one of Europe’s biggest hedge funds, is betting against the euro as Greece’s debt crisis nears a boiling point. The London-based firm, which manages over $32 billion in assets, recently purchased put […]
SEC recovers millions in hedge fund Ponzi case
WASHINGTON (Reuters) -U.S. securities regulators said they have recovered $229.4 million from an offshore fund held by a Connecticut-based hedge fund whose manager pleaded guilty this year to running a Ponzi scheme. The Securities and Exchange Commission said in a […]