Monthly Archives: September 2011
New York Hedge Fund Manager Claims His Wife Hacked His Computer And Stole Trading Secrets
Forbes – David Simon, a well-known New York risk arbitrager, directed his $100 million hedge fund firm, Twin Capital Management, to sue his wife and her divorce lawyers, claiming they hacked into Simon’s computer to get their hands on the […]
Ex-Galleon Trader Drimal Sentenced to 5 ½ Year Term for Insider Trading
Bloomberg – Former Galleon Group LLC hedge fund trader Craig Drimal was sentenced to 5 1/2 years in prison after admitting his part in an insider-trading scheme that stretched from technology firms to pharmaceutical companies. Drimal, 55, pleaded guilty in April […]
SEC Says Assets Of Illinois Startup Hedge Fund, Manager Frozen
Dow Jones – The Securities and Exchange Commission said the assets of a Chicago-area money manager and his hedge fund were frozen, a move that stems from allegations they lied to prospective investors in their start-up quantitative hedge fund. The […]
Hedge fund Diamondback to pay $1 million to settle insider case
Reuters – Hedge fund Diamondback Capital Management, which had been embroiled in the government’s insider trading case, has agreed to pay back roughly $1 million to settle an insider trading case, according to a court filing released on Wednesday. The […]
Why the Buffett approach adds up
Guardian – Terry Smith is not the first person to calculate how much poorer shareholders in Berkshire Hathaway would be if Warren Buffett had extracted fees as greedily as a hedge fund manager – meaning a 2% management fee plus 20% […]
Hedge Fund Apex Expands To Toronto
New York (HedgeCo.net) – Apex Fund Services is expaning it’s North American hedge fund administration services and client base with the opening of its Canada office in Toronto. Apex Fund Services (Canada) Ltd will be managed and run by Alex […]
France blocks EU hedge fund rules
Reuters – France’s finance minister Christine Lagarde is set to dash hopes of an imminent deal on EU hedge fund rules when she meets finance ministers in Brussels this week, said sources with direct knowledge of the matter. France’s refusal […]
EU’s Barnier Says Agreement on Hedge-Fund Passport Is Needed
Bloomberg – Michel Barnier, the European Union’s financial services commissioner, said he would push for a quick agreement on hedge fund rules, that would include provisions for a so-called passport. The passport idea, which would allow hedge funds to register […]
D. E. Shaw cuts only hint at hedge fund pain
Reuters – It’s rare for a Wall Street firm to sack a tenth of its workforce in one go. In finance, the compact between employers and their bankers and traders is simple: work hard and get paid well. But any […]
Hedge funds are not Gekko-like evils but they are greedy
Sydney Morning Herald – Confession: I manage a hedge fund. Since the global financial crisis (GFC) descended on the world, hedge funds, and those that manage them, have developed rather a bad name. While it’s true hedge funds are guilty […]
Year End Advisory: Hedge Fund Tax Planning
New York (HedgeCo.net) – As 2010 begins to wind down, this is an opportune time not only to launch 2011 planning, but also to review legislation and amendments that may impact hedge funds, their managers, and their investors. These considerations include […]