Author Archives: Editor
Facebook lifts price range on IPO as hedge funds, students queue
The Australian – The social network overnight raised its price range to $US34 to $US38 a share, resulting in a target valuation of up to $US104 billion ($104.28bn), which would make it the most highly valued IPO for a US company. Its previous […]
JPMorgan CIO Chief Drew Quits After Trading Loss
Reuters – JPMorgan Chase & Co. Chief Investment Officer Ina Drew is retiring — the first casualty after the bank suffered trading losses that could reach more than $3 billion and that have sparked an investigation by U.S. securities regulators. […]
Hedge Fund Launch: Credit Suisse Liquid Alternative Fund
New York (HedgeCo.net) – Credit Suisse’s Asset Management Division has announced the launch of the Credit Suisse Liquid Alternative Fund. The fund seeks to offer access to hedge fund-like returns, with the flexibility of daily liquidity, increased transparency and 1099 […]
“Everything is a Hedge”
The Big Picture – The claim is being made that JP Morgan’s $2 billion trading loss was in a trade that was a “a hedge.” It doesn’t take much review to easily disprove that position. We first learned of this […]
Hedge funds slash $18 billion in commodities; oil hit most
Reuters – Hedge funds and other money managers slashed their bullish bets on commodities by 20 percent, or nearly $18 billion, as prices fell to four-month lows last week, data from the Commodity Futures Trading Commission showed on Friday. With […]
Bankruptcy court wipes Martinovich debt clean over failed financial brokerage firm
Newport News – The former head of a Newport News financial brokerage that closed amid a fraud probe two years ago won’t have to pay back millions of dollars that he owed to scores of creditors. Jeffrey A. Martinovich, 46, […]
Hedge Funds Are Shadow Banks in Need of Regulation, Bafin Says
BusinessWeek – Hedge funds act as shadow banks and should be added to the list of organizations in need of regulation, according to Raimund Roeseler, head of banking supervision at Germany’s financial regulator Bafin. Shadow-banking definitions by the Financial Stability […]
Yahoo CEO Thompson Quits Amid Furor Over Bogus Resume
Forbes – Yahoo CEO Scott Thompson today stepped down, two weeks after activist hedge fund manager Dan Loeb ignited a controversy over Thompson’s embellished resume. Thompson will be replaced in the interim by Ross Levinsohn, the company’s global head of […]
Business JP Morgan JP Morgan ‘dead wrong’ to dismiss concerns over trading, admits boss
Guardian – The chief executive of JP Morgan Chase, Jamie Dimon, has said he was “dead wrong” to dismiss concerns about the US bank’s trading a month before posting a $2bn loss. The loss has led to calls for greater […]
May Produces Another Month of Positive Hedge Fund Net Flows
New York (HedgeCo.net) – Hedge fund flows as measured by the GlobeOp Capital Movement Index advanced 1.24% in May. “May produced another month of positive net flows into hedge funds,” said Hans Hufschmid, chief executive officer, GlobeOp Financial Services (LSE:GO.). […]
JPMorgan Loses $2 Billion, Goldman Redeems $250 Million From Hedge Funds
Inquisiter – JPMorgan Chase & Co.’s (JPM) CEO Jamie Dimon has indicated that the firm lost roughly $2 billion. JPM’s chief investment office, which focuses on hedging, made some risky bets on synthetic credit securities that didn’t play out to […]
Investors losing faith in commodity hedge funds
Reuters – Investors in some of the best-known commodity hedge funds are getting increasingly frustrated by their performance, with some heading for the exit as managers rack up a second year of losses. Some major funds focused on energy, metals […]