Author Archives: Editor
Rajaratnam’s lawyer says information was public
City AM – Accused hedge fund manager Raj Rajaratnam did not get secrets about Advanced Micro Devices and eBay from a former high-placed friend because the information was already public, his lawyer argued at his trial yesterday. In heated exchanges […]
Ruth Madoff Account Got $14 Million From Fraud
Bloomberg – Ruth Madoff’s account at Bank of New York Mellon Corp. (BK) received “fraudulent” transfers of at least $14 million, said the trustee liquidating her husband Bernard Madoff’s firm, who wants to “recapture” $44.8 million. Irving Picard, the trustee, said last […]
Gupta Administrative Action by SEC Is ‘Bizarre,’ Judge Says
Bloomberg – The U.S. Securities and Exchange Commission’s decision to file an administrative action against ex Goldman Sachs Group Inc. (GS) director Rajat K. Gupta, instead of to sue him, is “bizarre,” the judge in a Galleon Group LLC case said. […]
Hedge Funds Say Porsche Cost Them $1 Billion
Courthouse News Services – Porsche “corner(ed) the market in VW stock” in a “massive short squeeze,” driving up the share price after inducing investors to sell short, costing other investors more than $1 billion, a group of hedge-fund traders claims […]
Public pension plan investing in hedge funds jumps 50% – Preqin
Opalesque – Preqin research shows that the number of public pension systems investing in hedge funds has increased significantly over the past four years. There are now 295 public pension plans worldwide known to be allocating to hedge funds, up […]
Life of a hedge fund informant, easy or nerve-wracking?
Fierce Finance – What to make of Anil Kumar? He seemingly had it all as a respected consultant at McKinsey & Co. And yet he had some nugget of insecurity, so it seems, that made him easy picking for the […]
Porsche unveils record earnings
BBC – The German sports carmaker Porsche is holding its annual meeting with investors. The market will be hoping for the latest news on the long-awaited merger with Europe’s biggest automaker Volkswagen. Profits at Porsche have just tripled thanks to […]
Hedge Fund Launch: The Football Fund
New York (HedgeCo.net) – The Football Fund has launched and is officially open and trading with a February NAV of $99.16 per share. Having completed its initial investments the new hedge fund is currently open to private investors for a […]
Japan Hedge Funds Up 2.62% In February, Eurekahedge
New York (HedgeCo.net) – The best regional performance was delivered by Japanese hedge funds, gaining 2.62% in February. Japanese hedge funds investing in financial and insurance stocks, as well as material and mining companies, posted healthy gains – the Nikkei […]
SEC Accuses Juno Hedge Fund Managers of $1.8 Million Fraud
New York (HedgeCo.net) – Two hedge fund founders, Eugenio Verzili and Arturo Rodriguez, have been sued by the SEC for misappropriating $1.8 million from one of their hedge funds, Juno Mother Earth Asset Management. The SEC alleged in Federal court […]
Even Before Quake, Hedge Funds Wagered Against Japan
Advanced Trading – Hedge funds were leery of the Japanese economy even before last week’s devastating earthquake laid waste to the island nation’s infrastructure and marketplace. Long before global markets plunged in the aftermath of the quake, hedge funds were […]
New Front in War Between Companies and Hedge Funds
DealBook – War is brewing: proxy season is fast approaching, and companies are gearing up for their annual fight against activist hedge funds. Now an opening salvo from the prominent law firm Wachtell Lipton Rosen & Katz could, if successful, […]