Monthly Archives: August 2016
Why Are the Markets Prone to Black Swans?
(Harvest) A lot of people are really uncertain as to how this all ends and they keep on trying, and as they try, particularly Central Banks, we’ve expanded the credit base so dramatically that potential black swans are places like […]
Loeb Insurer Posts Biggest Profit Since 2013 on Investments
(Bloomberg) Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to $53.4 million, or 51 cents […]
Hedge Fund BAM Strategy Move Ends $250 Mln Discretionary Play
(Reuters) Hedge fund Balyasny Asset Management (BAM) is closing a $250 million “discretionary” portfolio run by Torbjorn Andreassen who is leaving the firm, a source told Reuters on Thursday. BAM manages a total of $12 billion, primarily in its Atlas […]
Taconic Co-Founder Brody Comes Out of Retirement to Launch New Hedge Fund
(Reuters) Hedge fund veteran Kenneth Brody has come out of retirement to launch a new money management firm, a person familiar with the situation told Reuters on Thursday. Brody, who co-founded Taconic Capital Advisors and retired in 2013, has reemerged […]
Hedge Funds Seen by Citigroup Buying Gas as Mid-$3 Forecast
(Bloomberg) Citigroup Inc. expects hedge funds to bet on rising natural gas by the end of the year as strong demand and slowing production help push prices toward the mid-$3 range in 2017. Money managers will probably hold more long […]
New Jersey Pension to Cut $9 Billion Hedge Fund Bet in Half
(Bloomberg) The New Jersey Investment Council voted to cut its target allocation to hedge fund managers by 52 percent, following similar moves by pensions in California and New York. The New Jersey council on Wednesday unanimously approved a fiscal 2017 […]
AIG Curtails Event-Driven, Long-Short Bets in Hedge Fund Retreat
(Bloomberg) American International Group Inc. reduced bets on event-driven and long-short strategies as the insurer scaled back hedge fund investments. Event-driven holdings were cut 41 percent to $700 million, while investments in long-short declined 25 percent to $2.24 billion in […]
Investment Banker and Plumber Charged With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against an investment banker and his close friend, a plumber who allegedly helped remodel his bathroom and put cash in his gym bag in return for illicit tips about […]
Mudrick Said to Gain 27% Beating Distressed Hedge Fund Rivals
(Bloomberg) In a disappointing year for hedge funds that invest in the riskiest debt, one distressed firm — Mudrick Capital Management — is flying high. Mudrick Capital’s flagship hedge fund handed investors a 26.8 percent return in the first seven […]
Ackman Exits Canadian Pacific, Freeing Up Cash For Next Bet
(Reuters) Billionaire investor William Ackman has exited his hedge fund’s investment in railway company Canadian Pacific CP.TO, freeing up roughly $1.5 billion in cash to make other future investments. Pershing Square Capital Management and Canadian Pacific Railway Ltd on Wednesday […]
Gross Says ‘I Don’t Like Bonds, Most Stocks,’ Favors Real Assets
Gross Says ‘I Don’t Like Bonds, Most Stocks,’ Favors Real Assets Bloomberg posted on Thu 4 Aug 2016 Permalink Print Money manager Bill Gross says investors should favor gold and real estate while avoiding most stocks and bonds trading at […]
Investor Funds Stolen for Shopping Sprees
(HedgeCo.Net) The Securities and Exchange Commission has announced an asset freeze it has obtained against three men who aren’t registered to sell investments and allegedly went on lavish shopping sprees with more than $5 million raised from investors to purportedly […]