Author Archives: Editor
Defrauding Hedge Funds: Madoff’s Accountant Fudged The Numbers, SEC Says
New York (HedgeCo.Net) – The SEC has charged Bernard Madoff’s longtime accountant for his role in the creation of false books and records used in the massive Ponzi scheme. “Paul Konigsberg’s assistance resulted in the formation of inaccurate trade confirmations each […]
Soros Adviser Turned Lawmaker Sees Crisis by 2020
Bloomberg – Takeshi Fujimaki, a former adviser to billionaire George Soros and now a member of Japan’s upper house of parliament, said a fiscal crisis in Asia’s second-biggest economy is inevitable and neither a higher sales tax nor the 2020 […]
New York Hedge Fund Manager Buys Florida Panthers For $240 Million
New York (HedgeCo.Net) The CEO and founder of New York hedge fund Virtu Financial, an electronic trading firm with offices in the U.S., Singapore and Ireland, has bought the Florida Panthers for $240 million, according to sources. “We understand that the […]
In This Battle Arena, Warriors Are Armed With Algorithms
NYT – Michael Chang, 30 years old, is the sort of guy that BattleFin, a recruitment firm searching for hedge fund talent, wants to attract. Six years ago, at a Foxconn plant in Guangdong, China, Mr. Chang used data analysis […]
Event driven only hedge fund strategy in the black for August says Preqin
Opalesque – Preqin’s Hedge Fund Analyst database reveals that event driven was the only hedge fund strategy to produce positive returns in August (+0.49%), with all other single-manager hedge fund strategies falling back into the negative, with a benchmark return […]
Jon Little’s Northill Capital swoops on hedge fund firm
CityWire – Northill Capital, the group founded by former BNY Mellon vice chairman Jon Little, has launched a takeover bid for Alpha Strategic +, which finances hedge funds. Alpha Strategic is already 51% owned by Northill, and has revealed that […]
Puerto Rico’s fat yields luring hedge funds, distressed buyers
Reuters – Puerto Rico’s municipal tax-free bonds yields are luring a new class of buyers: hedge funds and distressed debt investors betting the Caribbean island will keep servicing its massive debt. Trading volumes in Puerto Rico general obligation bonds, which […]
Hedge Funds Are Testing The Advertising Waters
New York (HedgeCo.Net) – Hedge funds seem to be wary of being the first to advertise under the new JOBs Act. Evan Rapoport, founder of industry portal HedgeCo.net, said yesterday. “While hedge funds are finally allowed to advertise, we believe that funds […]
State Street finds hedge fund investors dictate change in industry
Opalesque – Patrick Hayes, head of hedge fund operations, Ireland for State Street’s International Fund Services (IFS), is in an excellent position to assess developments in the global hedge fund industry. Some 1000 people work for State Street’s IFS in Dublin, […]
Matt Taibbi on How Wall Street Hedge Funds Are Looting the Pension Funds of Public Workers
Rolling Stone – In his latest article for Rolling Stone, Matt Taibbi reports that Wall Street firms are now making millions in profits off of public pension funds nationwide. “Essentially it is a wealth transfer from teachers, cops and firemen […]
U.K. Labour Party Promises Tax Hikes For Hedge Funds
FIN – The U.K.’s next general election is still more than a year-and-a-half away, but the opposition Labour Party is already taking aim at hedge funds. Labour leader David Miliband said this weekend that he’d close tax loopholes for hedge […]
Private equity, hedge funds must be understood to be regulated effectively
Oxford University Press – In the aftermath of the global financial crisis, much ill-feeling remains towards Wall Street, the investment banks and those individuals who profit from short-term movements in the financial markets. As the crisis has dragged on, more […]