Posts Tagged ‘Hedge Fund
All the Fuss About the Goldman Fraud Charges
So April 16, the SEC charged Goldman Sachs and VP Fabrice Tourre with civil fraud charges stemming from 2007 CDO deals with John Paulson’s hedge fund (the eponymous Paulson & Co.)– and since Goldman and Paulson are huge names and the prospect of scandal makes us all salivate, everyone has their panties in a twist. [...]
Soros on Volcker Rule: “I Back It”
Billionaire investor George Soros says maybe there might be something to the notion that the banking “oligopoly” formed by the four largest banks in the U.S. needs to be broken up. The so-called Volcker rule, named after Obama adviser and former Chairman of the Federal Reserve Paul Volcker, proposes, among other things, to limit the [...]
Convicted Mgr Resists Efforts to Collect $3.1M
Former Wayzata hedge fund manager John Lawton, who pleaded guilty last November one count of mail fraud and one count of making a false statement for an investment operation that resulted in losses of more than $10 million by more than 50 investors, is now resisting efforts by the SEC to collect what they claim [...]
Oh, Canada… AIMA Finally Decides to Oppose E.U. AIFM Directive
So it appears that Canada finally woke up and realized that the AIFM drama that’s been dominating the European stage for the past little while just might have an impact on its own burgeoning hedge fund industry which manages about US$25 billion according to FINalternatives. A little late to the party, but better late than [...]
Millenium Partners Negrin Accused in First CDS Insider-Trading Case
According to FINalternatives, former Millenium Partners hedge fund manager Renato Negrin, who the Securities and Exchange Commission alleges made $1.2 million four years ago trading on non-public information about a bond offering from Dutch media company VNU Group, took the stand in his own defense and denied any wrongdoing. This is the first ever insider-trading [...]
Fueling the Fire: Magnetar Bets Against the CDOs It Created
So, there’s a really lengthy article on ProPublica about Magnetar and all of its sketchy but technically not illegal trading of subprime mortgage securities. I could summarize it myself, but Courtney Comstock of Business Insider did such an amazing job that I’m just going to re-post what she wrote and give her a nice little [...]
Fu@%ed up Math: 25 Hedge Fund Managers= 658,000 Teachers
Yep, that’s the stunning conclusion that Les Leopold came to when he crunched the numbers. In 2009, the worst economic year since the Great Depression, the top 25 hedge fund managers in the world walked away with an average of $1 billion each. For the $25 billion that those lucky bastards earned, Les discovered that [...]
Film Industry Unites to Block Trading Tied to Box-Office Results
A coalition led by the Motion Picture Association of America, and supported by some of Hollywood’s largest labor unions and professional organizations in addition to sympathetic lawmakers, have joined together in a last ditch effort to block the legalization of financial instruments that would allow traders to swap contracts tied to movie box-office performances. They [...]
Hedge Fund Mgr Tells Bedtime Tale about Farts
Everyone has ambitions and passions that don’t necessarily align with their chosen profession. Or maybe for Crescendo Partners founder Eric Rosenfeld, writing a children’s bedtime story was just a creative outlet. A way to deal with the pressures of the job. Some people play golf or get massages. Others seek a little extra-marital stress relief [...]
U.K., European Pension Trends
According to Pensions & Investments, an annual survey of 1,000 of Mercer’s clients representing in excess of €500 billion ($670 billion) indicates that despite performance, liquidity and fraud concerns highlighted by the recent global financial crisis, U.K. and European pension funds are looking to boost hedge fund-of-funds investments in 2010. The survey found that 13.6 [...]
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