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Ontario Mega-Quarry Riles Up Local Farmers
A group of protesters yesterday passed the half-way mark of their 5 day, 119 kilometer march against Highland Companies in opposition to it’s new Canadian mega-quarry plans. The group of residents, farmers and representatives have been walking with signs and flags saying “Stop the Quarry,” since a rally at Queen’s Park in Toronto last Friday. The project is backed [...]
Update: Study Finds New Hedge Fund Launches Up 51%
According to a new hedge fund industry study, Sizing The 2010 Hedge Fund Universe: A PerTrac Study, the single-manager hedge fund industry recovered in 2010 with assets under management (AUM) increasing 11% over 2009 to $1.6 trillion. 1,184 new funds were launched, representing a 51% increase over the prior year. Total AUM for single-manager hedge funds [...]
Seven New Alternative Mutual Funds Launched in First Quarter
Hedge fund adviser Gemini Fund Services, LLC (Gemini), announced the launch of seven alternative mutual funds in the first quarter of 2011. Arrow Commodity Strategy Fund (CSFFX) Bandon Isolated Alpha Fixed Income Fund (BANIX) Equinox Market Neutral Commodity Strategy Fund (EQCIX) FX Strategy Fund (FXFIX) Grant Park Managed Futures Strategy Fund (GPFNX) James Alpha Global [...]
The Gods Of Greenwich – Review
Former stockbroker, Norb Vonnegut (a cousin of the late Kurt Vonnegut) follows up his debut novel, Top Producer (2009), with a new tale of frighteningly plausible-sounding hi-jinx in the world of high finance. He delivers a recession-era nail-biter in Books: The Gods Of Greenwich (Minotaur Books, April 26 2011), the story of a super-powered hedge [...]
SEC To Hold Off On The New Dodd-Frank Act
The Securities and Exchange Commission seems likely to allow additional time for investment advisers to make registration changes required by the Dodd-Frank Act, according to an April 8 letter from Robert Plaze, Associate Director of the Securities and Exchange Commission’s Division of Investment Management, to David Massey, President of the North American Securities Administrators Association. [...]
Connecticut to Hedge Funds: Welcome
According to Reuters, New York is poised to assess a new income tax on hedge fund managers who work in New York but live elsewhere in the hopes of raking in an extra $50 million a year. They propose to do this by taxing carried interest– profits earned by managing assets– at ordinary income tax [...]
Alleged Mobster Joins Accused in Ridiculous Fraud Case
Remember a few months back when I wrote about the insane fraud perpetrated by the men behind Gryphon Holdings? The guys who thought it was a good idea to falsify endorsements from George Soros and the Financial Times? Yeah, those guys… Well, it turns out they might have ties to the mob. Like, the Gambinos–the [...]
Trading Floor TVs Help Prevent World Cup Related Absenteeism
With most World Cup games taking place during working hours, many employers (particularly in Europe) are making concessions to employees by showing games on trading floor TVs to help avoid absenteeism or clogged Internet networks as workers log on to live streams of the games. According to the Chartered Management Institute, the cost to U.K. [...]
Hedge Funds Report Biggest Monthly Losses Since Lehman Collapse
According to Bloomberg.com, hedge funds lost an average of 2.7 percent in May according to the HFRX Global Hedge Fund Index, as the sovereign debt crisis in Europe prompted declines in stocks, the euro and commodities, and the gap between the yields in U.S. short-term and long-term debt narrowed. This was the biggest decline in [...]
Really Rich: Chamillionaire Explains His Home Foreclosure
courtesy of Dealbreaker Let me give you the short business answer. I bought the house in Houston. I have multiple mortgages. Some for me, some for other people. This house was my most expensive mortgage. I decided to let that house go, because the house ended up being worth nothing when the market went down [...]
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