Author Archives: Editor
DOJ Plans to Take Down ‘As Many As a Dozen Hedge Funds’
Wall Street Pit – More breaking news from Charlie Gasparino on the insider trading investigation. Gasparino reports that sources are telling him “there is essentially a war on hedge funds” and it is the Justice Department’s plan to “set a […]
The Feds Are Barking Up The Wrong Tree With These Hedge Fund Raids
BusinessInsider – With the raids on three hedge funds yesterday, the Feds are robustly taking on insider trading. Charlie Gasparino on why this won’t do anything to rid Wall Street of miscreants. The Justice Department is saying that it’s getting […]
Pictet May Add More Funds to Smaller Managers to Cut `Druckenmiller Risk’
Bloomberg – Pictet & Cie, Switzerland’s biggest closely held private bank, is shifting more of its $10 billion hedge fund investments to newer, lesser-known managers from the largest, most established houses to boost returns. The bank may increase money invested […]
Health Care Rules, FBI Hedge Fund Raids, Ireland: Compliance
Bloomberg – U.S. health insurers can include the cost of federal taxes in determining whether they spend enough on patient care, increasing the amount that can be kept for administration or profit under new rules. Company shares rose. Health plans led […]
Daniel Posner Leaves DE Shaw To Start His Own Hedge Fund
Business Insider – Daniel Posner, who ran the distressed securities group at DE Shaw, is leaving the fund to start his own hedge fund, says HFMWeek. Top performers are frequently spinning off from hedge funds to start their own shops, but […]
Chiesi Claims FBI Delayed Advising Her of Rights
Bloomberg – Danielle Chiesi, accused with Raj Rajaratnam in the largest insider-trading case involving hedge funds, testified that U.S. agents questioned her before advising her of her right to remain silent and to seek a lawyer’s advice. Chiesi, testifying for the […]
Hedge Funds Care 2nd South Florida Benefit
New York (HedgeCo.net) – Hedge Funds Care is holding it’s 2nd South Florida Benefit for Hedge Funds Care on Dec. 2nd, 2010, the first night of Art Basel, Miami Beach. “The first annual South Florida Benefit was one of the […]
Hedge fund to sell its stake in Harrah’s Entertainment
Las Vegas Review – The first business day after Harrah’s Entertainment canceled a planned $610 million stock sale, the hedge fund controlled by billionaire John Paulson submitted paperwork to the Securities and Exchange Commission that could lead to the sale […]
The New Yorker: Are Hedge Funds “Socially Worthless”?
New York (HedgeCo.net) – In the soon to be published, November 29, 2010, issue of The New Yorker, in “What Good Is Wall Street?”, John Cassidy questions the value of Wall Street, pointing out that many of the things that […]
Ex-Liverpool owner sued by hedge fund
Sport Business -Former Liverpool co-owner George Gillett is being sued for $117 million over a loan used to invest in the English Premier League club. US-based hedge fund Mill Financial took legal action against Gillett as it claims the American […]