Archive for February, 2010
Galleon Criminal Trial Postponed Until After Civil Suit
According to the Wall Street Journal, the judge presiding over Galleon Group LLC founder Raj Rajaratnam’s criminal trial has finally set a date: October 25, 2010. According to a court document cited on HedgeCo.Net, the judge felt that by postponing the trial until this time, it would “[ensure] a full opportunity for both sides to [...]
BlackRock not taking over Man Group, Launching Asian Corporate Bond Hedge Fund
BlackRock, the world’s largest money manager, has taken a substantial stake in the Man Group, the world’s largest publicly listed hedge fund, prompting speculation that there might be a takeover in the works. According to a regulatory filing cited on FINalternatives, BlackRock, which manages $3.35 trillion in assets, now owns more than 10 percent of [...]
Hedge funds bet on Greek debt default, Germany “Can’t Confirm” Hedge Fund Clampdown
In response to Greece’s economic troubles, this month hedge funds have raised their bets on Greece’s economic woes by shorting its bonds or buying default protection. According to the New York Times, the country has been in economic turmoil since the new Socialist government revealed in October 2009 that the budget deficit would hit 12.7% [...]
Connecticut considering Hedge Fund bill
Connecticut, home to about 200 hedge funds, is considering their own hedge fund bill due to their frustration with Washington’s inaction. Last year a bill died in the House of Representatives requiring hedge funds and private equity funds to disclose conflicts of interest between investors and fund managers. The state feels that with recent bad [...]
Meshuga rabbi bungles hedge fund shake down
A prominent Brooklyn rabbi, accused 7 years ago of stealing government grants, was arrested on Thursday for blackmailing a Connecticut hedge fund for $4 million which he allegedly planned to give to two schools he works with (Bais Yaakov and Torah Vodaath). Awww. Gotta love a criminal with a heart of gold. Hope it’s worth [...]
Homophobic Slurs, Penis Grabbing, and Pigsty Dwelling, Oh My
Lisa Maria Falcone, wife of hedge fund billionaire (who jumped from #296 to #158 this year on the Forbes list of the 400 Richest Americans in 2009) and NY Times shareholder Philip Falcone, and her aforementioned hubby are facing a lawsuit for undisclosed damages from former employee and man-servant, William Gamble, for a variety of [...]
New Fundraising Plan Has Hedge Fund and Heirs Putting the Heat on Benihana
A recent plan for raising capital developed by the managers of the Japanese steakhouse Benihana has been encountering growing resistance. Under this plan, according to the NY Times DealBook, the Miami-based company would merge with BHI Mergersub, a subsidiary which would allow the company to then issue 12.5 additional shares of common stock. The company [...]
The talented Mr. Riley of Pressio, LP
Have you heard of Pressio, LP or Pressio Capital Management, LP? Neither have I, but 19 individuals right now probably wish they had the same response. These “investors” were duped out of $3 million by a 38 year old conman going by the name of Mr. Craig Alan Riley. During the Fall of 2006 to [...]
Hedge Funds Loving Troubled Greece
By increasing the number of short positions on Greece’s bonds hedge fund managers are betting on the country’s negative economic state and most likely profiting from it. The sheer size of Greece’s debt issues indicates that this problem should have been dealt with 10 years ago. The European Union requires a specific range on deficit [...]
Drugs, Sex, and Mortgage backed bonds
Once named “One of Wall Streets sharpest investors in mortgage backed bonds” Jeffery Gundlach is one twisted little story. Trust company of the West claimed that their reasoning behind the firing of their chief investment officer was due to Jeffery’s behavior becoming “erratic” and “confrontational” and the fact that he basically threatened to take his [...]
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