Category Archives: Syndicated
Buffett Empowers Deputies, Raises Funds to $8B
HedgeWeek – Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc., is entrusting more of his company’s investments to deputy stock pickers as he prepares the firm for his eventual departure. Ted Weschler and Todd Combs, former […]
The Market Has Spoken, and It Is Rigged
NYT – In the aftermath of the Barclays rate-fixing scandal, the most surprising reaction has been from people in the financial sector who fully understand the awfulness of what has happened. Rather than seeing this as an issue of law […]
NY Fed to release Libor documents Friday: official
Reuters- The Federal Reserve Bank of New York will release on Friday documents showing it took “prompt action” four years ago to highlight problems with the benchmark interest rate known as Libor and to press for reform, an official at […]
Fallout From JPMorgan Loss May Have Just Begun
HedgeWorld – Jamie Dimon will do his best to put the “London Whale” trading flap behind him on Friday [July 13] when JPMorgan Chase & Co. reports earnings, telling Wall Street that the bank has capped losses from the bad […]
Investors warn EU hedge fund rules could hit other funds
Reuters – Leading fund management firms have warned the European Commission’s head of financial regulation that new rules aimed at tightening practice at hedge funds could damage the rest of the industry’s ability to operate effectively. Twenty investors, including Allianz, […]
Fund manager Spork appeals hefty penalties
Globe & Mail – Disgraced hedge fund manager Otto Spork is appealing a sentencing order by the Ontario Securities Commission to pay a $1-million fine plus millions more back to investors. Ontario Divisional Court will hear the appeal by the […]
JPMorgan’s Unlikely Hedge Fund Savior
Bloomberg – When JPMorgan Chase made its money-losing multibillion-dollar bets on the corporate bond market, hedge fund manager Andrew Feldstein took the opposite side and won. Feldstein, co-founder of BlueMountain Capital, also profited by helping the Wall Street bank unwind the trades, […]
Hedge Funds Largely Flat in June, Shed $50 Billion
Nasdaq – Hedge funds were largely flat last month, while the broad market posted modest gains. The HFRI Fund Weighted Composite Index gained a marginal 0.05% in June, while the benchmark Standard & Poor’s 500 index rose 4.12%, taking into […]
China opens up to foreign hedge funds
New Statesman – China has given foreign hedge funds permission to use funds from Chinese residents in investments abroad. This reform, called the Qualified Domestic Limited Partner programme, is the latest and boldest in a series of reforms to open […]
Court Approves $17 Million in MF Global Trustee Fees
Reuters – A bankruptcy judge on Wednesday [July 11] green-lighted about $17 million in fees for the law firm that employs James Giddens, the trustee working to recover money for former customers of MF Global’s broker-dealer unit. Judge Martin Glenn […]
Amid SEC Charges, Hedge Fund Manager Phil Falcone Attempts Audacious IPO
Forbes – Phil Falcone, the embattled billionaire hedge fund manager, has put together an unorthodox IPO that will see his hedge fund firm contribute assets valued at $350 million to a blank check company that will trade publicly. In the […]
Passport To Wind Down Materials Hedge Fund After 31% Loss
Bloomberg – Passport Capital LLC, the $3.4 billion hedge fund founded by John Burbank, plans to wind down its materials fund after a 31 percent loss this year, according to a letter to investors obtained by Bloomberg News. The Passport Materials […]