Trading Room – Australian hedge fund Basis Capital is suing Goldman Sachs, alleging the US investment banking giant forced one of its funds into insolvency by encouraging it to take up a “shitty deal”. Basis Capital’s Yield Alpha Fund (BYAFM) […]

NPR – The Senate is considering a bill this week aimed at creating jobs and extending some business and family tax breaks. Lawmakers have decided to pay for those provisions by partially closing a controversial tax loophole that has allowed […]

WSJ – When the financial crisis hit in 2008 and investors scrambled for cash, many hedge funds limited redemptions, locking up billions of dollars when it was needed most. While this prevented forced selling at the bottom of the market, […]

Bloomberg – GCI Asset Management Inc. and Orix Investment Corp. will start today a hedge fund using computer models to spot trends in futures prices and profit from market turmoil. The Orix Commodities Fund will open with initial capital of […]

Dow Jones -A key oil-refining-industry organization is opposing a provision in a Senate bill that would quintuple a federal tax specifically used by agencies to clean up oil spills because it would increase fuel costs for consumers. On Tuesday, the […]

Dow Jones -Hedge funds in Asia excluding Japan were down almost 5% in May from April, according to Singapore-based hedge fund tracker Eurekahedge, amid a spat of negative headlines and sudden dips in the region’s markets. The Eurekahedge Asia ex-Japan […]

NYT – Some of the world’s top hedge fund managers of the baby-boom generation are grooming potential successors to reassure investors in the event they one day step down, Bloomberg News writes. That contrasts with some older generation hedge fund […]

NYT – Louis Bacon has, on average, achieved annual profits of about 20 percent over the past twenty years. But now it seems even the industry’s brightest players can’t avoid the global financial turmoil. In May, Mr. Bacon’s largest hedge […]

Reuters – White House economic adviser Paul Volcker firmly opposes exempting banks from his proposal to ban them from hedge funds or private equity funds when they make only small investments, according to a letter obtained by Reuters on Tuesday. […]

WSJ – Federal Bureau of Investigation officials in New York are increasingly employing tools and techniques used to hunt terrorists to take aim at a different kind of criminal: white-collar con artists and inside traders. At a time when the […]

BusinessWeek – A trade group representing hedge funds spent nearly $1.4 million in the first quarter lobbying federal officials on proposed financial regulations, including stricter oversight of derivatives trading. The $1.37 million that the Managed Funds Association spent on lobbying […]

Bloomberg – Billionaire Edward Lampert may have found a way to shield himself from millions of dollars in taxes under legislation that would raise levies on profits at private- equity firms. ESL Partners LP, the Greenwich, Connecticut, hedge fund Lampert […]