{"id":7645,"date":"2008-05-05T00:00:00","date_gmt":"2008-05-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"algo-gone-wild-adds-up-to-trouble-for-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2008\/algo-gone-wild-adds-up-to-trouble-for-hedge-funds.html","title":{"rendered":"Algo gone wild adds up to trouble for hedge funds"},"content":{"rendered":"<p>Globe and Mail &#8211; In the hedge fund world, James Dinan is a big wheel, earning an estimated $470-million (U.S.) last year as the head honcho at $14-billion York Capital Management.<\/p>\n<p><!-- \/Summary --><\/p>\n<p>In the space of 60 seconds late Wednesday, Mr. Dinan&#8217;s fund gave back $49-million (Canadian) of that total on a computer-driven trading error that hammered <strong>FNX Mining<\/strong>. It&#8217;s hard to imagine York Capital&#8217;s founder, or any other FNX institutional owner, is thrilled with what played out.<\/p>\n<p>Nickel miner FNX, which features York Capital as its largest shareholder with a 19-per-cent stake, was the victim of what traders described as an &quot;algorithm gone wild.&quot;<\/p>\n<p><a target=\"_blank\" href=\"..\/news\/news_land.php?i=http:\/\/www.theglobeandmail.com\/servlet\/story\/LAC.20080502.RWILLIS02\/TPStory\/Business\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Globe and Mail &#8211; In the hedge fund world, James Dinan is a big wheel, earning an estimated $470-million (U.S.) last year as the head honcho at $14-billion York Capital Management. In the space of 60 seconds late Wednesday, Mr. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7645","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7645"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7645\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}