Author Archives: Editor
Goldman Sachs Trader Raj Sethi Said to Quit, May Join Hedge Fund
Bloomberg – Raj Sethi, a managing director in Goldman Sachs Group Inc. (GS)’s commodity-derivatives trading group, quit after 14 years and may join a hedge fund, according to a person with knowledge of the matter. Sethi, 35, who once ran […]
The Highest-Earning Hedge Fund Managers Are Struggling To Beat The Market Rally
Forbes – Albert Friedberg is a little-known commodities trader who manages $2 billion in Toronto. Last year, during one of the worst 12-month stretches in the history of the hedge fund industry, Friedberg outperformed just about every big shot trader […]
Buffett gains ground in hedge fund bet
CNN – Four years into a 10-year wager that the S&P 500 index will return more than a selection of hedge funds, Warren Buffett has almost caught up with his competition. Results are in for 2011, the fourth year of […]
Hedge fund wants four seats on Yahoo board?
AP – One of Yahoo’s major investors is urging shareholders to vote its four nominees on to the company’s board, launching a potentially nasty fight to transform its direction. Hedge fund Third Point, which has a 5.8% stake in Yahoo (YHOO), […]
March 2012 Eurekahedge Report: Hedge Funds up by more than $40 billion
New York (HedgeCo.net) – The Eurekahedge Hedge Fund Index gained 2.05% in February as optimism about the European debt situation and strengthening global economy fuelled rallies in the underlying markets. The MSCI World Index increased 4.55% as investor sentiment remained […]
Exclusive: The Secret Madoff Prison Letters
Forbes – Bernie Madoff hated e-mail. He rarely used it at his high-tech Wall Street trading firm. When others did, he fretted about the trail it left behind. He wasn’t crazy about letters, either. A staffer had standing orders to […]
If you cover Wall Street, should you take Wall Street speaking fees?
Columbia Journalism Review – Millions of dollars have flowed to journalists in speaking fees in recent years. Is this a scandal, a dark and an indelible stain on journalism, or really not such a big deal? What does Wall Street, […]
Vatican bank image hurt as JP Morgan closes account
Reuters – JP Morgan Chase is closing the Vatican bank’s account with an Italian branch of the U.S. banking giant because of concerns about a lack of transparency at the Holy See’s financial institution, Italian newspapers reported. The move is a […]
Mets Owners Settle Madoff Trustee Case for $162 Million
Bloomberg – The $162 million settlement that resolves claims by the liquidator of Bernard Madoff’s firm against the owners of the New York Mets won’t require them to pay any money for at least four years, if ever. U.S. District Judge Jed Rakoff […]
Advisor Charged With Using Phony Audit Report To Defraud Investors
Financial Adviser – The Securities and Exchange Commission (SEC) has charged a San Francisco-area investment advisor with defrauding investors by placing their investments in his own personal account and by giving them a bogus audit report that embellished the financial […]
Investor sues hedge fund Medley Capital in redemption dispute
Hedge Funds Review – Fintan Partners has asked a New York court to enforce redemption terms in a side-letter agreement as investors lose patience with suspended hedge funds and in particular Medley Opportunity Fund. Fund of hedge funds (FoHF) manager Fintan […]
$200M Suit by Hedge Funds Dismissed
JD – Earlier this month, in Absolute Activist Value Master Fund Ltd. et al. v. Ficeto et al., 11-cv-0221 (2d Cir. Mar. 1, 2012), the Court of Appeals for the Second Circuit affirmed the dismissal of a $200M fraud case brought […]