KKR Financial Triples Quarterly Income as Credit Demand Drives CLO Rally Nov 6, 2009
Highland, the Dallas-based investment firm, said in October 2008 that it was liquidating its main hedge fund following unprecedented market volatility and disruption. . (Bloomberg -- US)
Insider-trading bust results in six arrests; see chart Nov 6, 2009
August to September 2007: Drimal tips a portfolio manager at one unidentified hedge fund, which buys 3Com shares. Shankar tips portfolio manager at a second unidentified hedge fund, which buys 3Com shares ... The allegations broaden the insider-trading probe announced at last month's arrest of Galleon hedge funds group billionaire Raj Rajaratnam, ranked 559th this year in Forbes' list of the world's richest people, and five other suspects. (USA Today -- Money)
Buffett's `Wake-Up Call' to Berkshire Managers May Signal More Cost Cuts Nov 6, 2009
The company, which reports today, may need further reductions, even as the U.S. recovers, said , founder of the hedge fund Ram Partners LP.. I dont think Berkshire hit the reset button as hard as other companies when it came to cutting costs, said Matthews, the author of Pilgrimage to Warren Buffetts Omaha. (Bloomberg)
More arrests in insider-trading scandal Nov 6, 2009
5 trillion hedge fund industry pleaded guilty to criminal charges and eight others were arrested ... The actions raise to 20 the number of people who have been charged in the case disclosed last month with the arrests of Galleon Group founder and hedge fund operator Raj Rajaratnam and five others ... Federal prosecutors filed new criminal charges against several Wall Street lawyers and traders for allegedly being part of an insider-trading network run by Zvi Goffer, a former proprietary trader... (San Francisco Chronicle -- Business)
Tyranny of Distance Curbs Australian Hedge Fund Revival in Post-Madoff Era Nov 6, 2009
Tyranny of Distance Hampers Australian Hedge Fund Revival - Bloomberg ... Tyranny of Distance Hampers Australian Hedge Fund Revival ... Nov. 6 (Bloomberg) -- After a decade running Sydney-based hedge fund , founder is planning a move to New York or Switzerland in search of cash. (Bloomberg -- Australia & New Zealand)
The missing pieces in Galleon’s puzzle Nov 6, 2009
Prosecutors and securities regulators appear to have already put together the big pieces with last month s arrests of former Galleon co-founder Raj Rajaratnam and two executives from a former Bear Stearns hedge fund ... Federal authorities are trying to determine whether other hedge fund managers traded on the same kind of top-secret corporate information that prosecutors say Rajaratnam and former Bear fund managers Mark Kurland and Danielle Chiesi trafficked in ... The information, prosecutors... (The Star Online, Malaysia -- Business)
Atheros exec, others charged in insider trading case Nov 6, 2009
-- Federal authorities have charged 14 individuals arising out of their ongoing investigation of insider trading at hedge funds and stock trading firms ... On Oct. 16, six individuals were arrested for their alleged involvement in the largest hedge fund insider trading case in history ... Between 2008 and March 2009, Hariri provided inside information to a cooperating witness who managed a hedge fund in California in exchange for advice received from that cooperating witness about the purchase... (EETimes)
Petters defense: Put financiers, funds on trial Nov 6, 2009
They re also trying to destroy any sympathy the jurors might have for the biggest victims of the fraud the hedge funds that invested billions of dollars in Petters operations, and lost most of it ... The defense has portrayed hedge funds, which invested billions with a Petters-owned entity that fraudulently claimed it was buying and reselling electronics, as reckless investors and undeserving of jurors sympathies ... Hopeman also called hedge funds giant loan sharks, adding that they make... (Twin Cities Business Journal, MN)
Power line faces further enviro. study Nov 6, 2009
But concerns have been raised about the line s proposed route through LaVeta Pass, and through a large, private ranch called the Trinchera Ranch that s owned by Louis Bacon, founder of the Moore Capital hedge fund. Bacon has hired a public relations firm, lawyers and an engineering firm to look at the proposed route. (Denver Business Journal, CO)
Net widens in Galleon investigation Nov 6, 2009
The biggest hedge fund insider trading case in US history ensnared more Massachusetts companies yesterday as federal investigators brought new charges against 14 people, including a Westwood investor. Steven Fortuna, a hedge fund manager with a home in Westwood, pleaded guilty in Manhattan federal court to illegally trading shares of of Cambridge ... Florida hedge fund investor Roomy Khan pleaded guilty to making illicit trades in several stocks, including of Chelmsford, netting her about $1. (Boston Globe)
Wall Street Meets The Wire Nov 6, 2009
Shady hedge fund honchos, beware ... " The subterfuge enabled the band of conspirators to net a cool $20 million in profits from dodgy "inside" trades, prosecutors say. The case came to light last month after federal authorities charged hedge-fund tycoon Raj Rajaratnam, founder of Galleon Group, and five others with masterminding a vast insider trading racket. And, the NYT reports, more arrests are expected in the coming weeks as a special FBI unit expands its broader probe into the more murky... (Slate)
Ex-Galleon Worker, 13 Others Charged by U.S. in $53 Million Insider Scheme Nov 6, 2009
Hedge Fund Managers, Traders Charged in Galleon Trading Probe - Bloomberg ... Hedge Fund Managers, Traders Charged in Galleon Trading Probe ... Nov. 6 (Bloomberg) -- U.S. prosecutors charged 14 people, including hedge fund managers, lawyers and an ex-Galleon Group employee, for using the methods of drug dealers and common criminals to profit on insider data from deals involving firms such as 3Com Corp. and Alliance Data Systems Corp.. (Bloomberg -- US)
Bear Managers Cioffi, Tannin Defrauded Investors, Prosecutor Tells Jurors Nov 6, 2009
The trial isnt really about hedge fund strategy, Assistant U.S. Attorney said yesterday in closing arguments. This case is about what the defendants said and what they did, and all their lies. (Bloomberg -- US)
The Greatest Trade Ever Nov 5, 2009
But Wall Street Journal reporter Gregory Zuckerman found one: hedge fund manager John Paulson. In The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, Zuckerman describes how a relatively obscure middle-aged hedge fund manager, with little previous experience in housing or mortgage trading, made billions of dollars by betting against subprime mortgages, and then against the financial companies that originated and traded them. (Slate)
Ruiz bows out of SIA awards dinner Nov 5, 2009
Six people, including the founder of hedge fund Galleon Group, have been charged related to alleged insider trading over the spinout of AMD's manufacturing arm into Globalfoundries, a joint venture between AMD and Abu Dhabi's Advanced Technology Investment Co. Ruiz has not been charged with any wrongdoing. Ruiz from his position as chairman of Globalfoundries. (EETimes)
Man Group First Half Profit Beats Forecast; Assets Under Management Rise Nov 5, 2009
Hedge funds collected $1 ... 43 trillion industry, according to Chicago-based Hedge Fund Research Inc. ... Hedge funds are mostly private pools of capital whose managers participate substantially in the profit from speculation on whether the price of assets will rise or fall. (Bloomberg -- UK)
City hands over '10 athlete's village to Olympics Nov 5, 2009
The $940 million village did not come without controversy, going millions of dollars over budget and requiring the city of Vancouver to come to its financial rescue after New-York-based hedge fund Fortress Investment Inc. pulled their backing when global economic crisis hit. "This has not been an easy project," Furlong said. (SportsIllustrated.CNN -- More)
Judge Sanctions Firm That Sued Adversary in Sexual Discrimination Suit Nov 5, 2009
The acrimonious dispute began in December 2008 when Abrams' husband, Russell, the president of hedge fund Titan Capital, allegedly asked his administrative assistant Danielle Pecile to take two compact discs of photos to Duane Reade for development ... That same day, she e-mailed Mr. Abrams and told him she had quit because his brother Marc, who worked at the hedge fund, had sexually harassed her. (Law.com)
India Shows Hedge-Fund Savvy With Huge Gold Buy Nov 5, 2009
India really did display the savvy of a hedge fund here. It got what it wanted, surprised markets and will sit back and reap the benefits as gold rallies. (Bloomberg -- Columnists)
The catastrophe insurance policy through history Nov 5, 2009
Gold exchange traded funds account for 6 percent of overall gold holdings with John Paulson, the American hedge fund manager, rumoured to account for almost 10 percent of this. Paulson became a billionaire anticipating the subprime crisis and earlier this year his company bought an 11 percent stake in South African listed gold producer AngloGold Ashanti from Anglo American. (Business Report, South Africa)
How does Fitzpatrick keep those balls in the air? Nov 5, 2009
Grocon and US hedge fund Oaktree had offered Brookfield Multiplex $155 million to save Multiplex Prime, which has breached its banking covenants. Multiplex Prime's financiers - ANZ, NAB and ING - won't extend a November 16 deadline to get a deal done. (Sydney Morning Herald -- Business)
Rajaratnam Prosecutors Claim Multiple Witnesses to Galleon Insider Trading Nov 5, 2009
Nov. 5 (Bloomberg) -- Federal prosecutors told a U.S. judge they have more than one witness ready to testify against , the Galleon Group hedge fund founder accused of directing an elaborate insider-trading ring ... The SEC alleges that there was widespread and repeated insider trading at hedge funds run by Galleon and New Castle Funds LLC, a former Bear Stearns Cos ... Galleons hedge funds are mostly in cash after selling stocks and other assets, according to the letter. (Bloomberg -- US)
More defendants may be added in Galleon case - SEC Nov 5, 2009
NEW YORK (Reuters) - More defendants may be added to the insider-trading case involving the hedge fund firm Galleon Group, a lawyer for the U.S. Securities and Exchange Commission said on Wednesday. Galleon hedge fund partner Raj Rajaratnam is escorted by FBI agents after being taken into custody in New York October 16, 2009 ... Federal prosecutors have described the case as the biggest-ever hedge fund insider-trading scandal. (The Star Online, Malaysia)
NY prosecutors ask billionaire's bail stay high Nov 5, 2009
NEW YORK - Federal prosecutors in New York say a billionaire hedge fund manager charged in a $25 million insider trading case must remain held under a $100 million bail because he has the money and the incentive to flee. The government urged a judge Wednesday not to lower 52-year-old Raj Rajaratnam's (RAHJ rah-juh-RUHT'-nuhm) bail. (ABC 7 News, DC)
Business briefs Nov 5, 2009
Galleon, a hedge fund whose co- founder Raj Rajaratnam faces civil and criminal in sider trading charges, told its clients in an investor letter that most of its funds already are in cash ... Galleon, a hedge fund whose co- founder Raj Rajaratnam faces civil and criminal in sider trading charges, told its clients in an investor letter that most of its funds already are in cash. (New York Post -- Business)
Operation "Rotten Apple" Nov 5, 2009
Those include the largest hedge fund insider trading case on record, indictments related to the case, and pretrial activity in the corruption case of a former (NYPD) commissioner. "Residents of the Bronx have a couple of reasons to be happy today," said current NYPD Commissioner. (ABC News)
Tufton Oceanic Backs Ex-UBS Managing Directors in New Transport Hedge Fund Nov 5, 2009
Tufton Backs Ex-UBS Managing Directors in Transport Hedge Fund - Bloomberg ... Tufton Backs Ex-UBS Managing Directors in Transport Hedge Fund ... Nov. 5 (Bloomberg) -- and , two former managing directors, plan to start a global transport fund with the backing of , manager of the worlds largest shipping hedge fund. (Bloomberg -- Asia)
Darling hails Lloyds and RBS move Nov 4, 2009
Page last updated at 20:44 GMT, Tuesday, 3 November 2009. Please turn on JavaScript. (BBC News -- UK)
Climate Change And Copenhagen Nov 4, 2009
At Risk: London Billionaires, Hedge Funds Mayor Boris Johnson on the dangers of new regulation and taxation proposals. Obama Finance Reform Clifford Chance looks at the issues facing hedge funds ... Volcker, Central Banks On Crisis Global leaders' vision for hedge fund regulation, markets and banks. (Forbes -- Business)
Sizing Up Buffett's Biggest Bet Nov 4, 2009
There's another way to look at the Burlington Northern deal, says hedge fund manager Doug Kass of Palm Beach (Fla. -based Seabreeze Partners Management. (BusinessWeek)
Ruiz out as AMD spinoff's chairman Nov 4, 2009
Austin resident Hector Ruiz reportedly shared confidential information about the company with a defendant in the Galleon hedge fund inside trading case ... Government officials have charged that the , whose co-founder Raj Rajaratnam is a defendant, and the hedge fund where Chiesi worked, , bought AMD shares based on the inside tip from the AMD exec about a reorganization last fall. (Austin Business Journal, TX)
Morgan Stanley Wins 30 Asia-Pacific Prime Brokerage Mandates Amid Recovery Nov 4, 2009
Nov. 4 (Bloomberg) -- , Asia-Pacifics second-largest prime broker, picked up more than 30 new mandates to provide services including clearing trades, securities and cash lending to hedge funds in the region this year ... Hedge fund growth renewed this year after investment losses and record withdrawals shaved 25 percent off global industry assets in 2008, according to data from Chicago-based Hedge Fund Research Inc. Industry assets expanded by $34 billion in September, the fifth consecutive... (Bloomberg -- Asia)
Madoff Makes Latest Scammers Look Like Amateurs Nov 4, 2009
5 billion Ponzi scheme, Petters says he had no idea that she and others in his firm were cheating the hedge funds that invested with them ... Out in Minnesota, folks at Petters Group Worldwide LLC were telling hedge funds they were investing in loads of TV sets and DVD players ... The warehouse is locked, they said at one point, testified , manager of a hedge fund that poured millions into Petterss operation, Interlachen Capital Group LP of Minneapolis. (Bloomberg -- Columnists)
Buffett bets $26B on U.S. recovery Nov 4, 2009
Doug Kass, general partner at the hedge fund Seabreeze Partners Management and a former Berkshire shareholder, said the BNSF takeover could be a defining moment for the 79-year-old investor. "Considering the size, this could be Mr Buffett's coup de gr ce on the deal world. And it's going to take a while to absorb it. I think it's his last meaningful deal," he said. (CNN -- International)
Warren Buffett buys railroad giant Burlington for $26.3B Nov 4, 2009
"He is putting his money where his mouth is," says Jeff Matthews, a hedge fund manager at Ram Partners. The rail investment depends on a recovery that some economists say will be spotty at best. (USA Today -- Money)
Asian Hedge-Fund Assets Rise to $73.7 Billion Last Quarter on Recovery Nov 4, 2009
Asian hedge funds are making a comeback this year, beating global peers, as the region leads the worlds emergence from the worst recession since World War II after posting record losses in 2008. A measure tracking the regions hedge funds has gained about this year through October, beating the global index, which has gained 16 percent, according to Eurekahedge Pte ... Asian hedge funds demonstrated definitive alpha in the third quarter, displaying strategic versatility while building on... (Bloomberg -- Japan)
NY broker pleads guilty in hedge fund fraud Nov 4, 2009
A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments ... He admitted aiding lawyer, Marc Dreier, in a conspiracy to sell more than $100 million in fictitious securities to hedge funds in 2006 and 2007 ... Prosecutors say Kovachev and Dreier posed as representatives of a real estate developer even using the developer's Manhattan offices to sell phony promissory notes to hedge funds. (San Francisco Chronicle -- Business)
Hedge Giant Jones Turns Gold Bug Nov 3, 2009
Hedge fund icon Paul Tudor Jones has turned bullish on gold, based on concern of rising inflation and expectations of strong demand from central banks and exchange traded funds ... Jones is joined in his bullishness toward gold by two other hedge fund heavies, John Paulson and David Einhorn. (Newsmax)
Former AMD chief leaves current job after reported Galleon link Nov 3, 2009
Citing an unnamed source, The Wall Street Journal reported last week that Ruiz is the executive fingered by the Manhattan for leaking insider information to Danielle Chiesi, one of six hedge fund managers and corporate executives arrested in the Galleon case. Galleon Group portfolio manager Raj Rajaratnam is accused of leading the insider trading ring, which allegedly made $25 million in illegal profits. (USA Today -- Money)
Ruiz stepping down from GlobalFoundries Nov 3, 2009
Last week, media reports said Ruiz, the former CEO of , reportedly shared confidential information about the company with a defendant in the Galleon hedge fund inside trading case ... The government says that , whose co-founder Raj Rajaratnam is a defendant, and the hedge fund where Chiesi worked, New Castle LLC, bought AMD shares based on the inside tip from the AMD exec about a reorganization last fall. (Albany Business Review, NY)
Bear lawyers ask for hedge case dismissal Nov 3, 2009
The lawyers for two former Bear Stearns hedge fund managers accused of criminal fraud have asked the judge to throw out the case ... The lawyers for two former Bear Stearns hedge fund managers accused of criminal fraud have asked the judge to throw out the case. (New York Post -- News)
Ruiz resigned in September Nov 3, 2009
MALTA -- GlobalFoundries Inc. Chairman Hector Ruiz turned in his resignation at the end of September -- an indication that he may have known he was an unnamed source in the $20 million Galleon hedge fund insider trading scandal ... Ruiz's resignation is not surprising considering a recent Wall Street Journal story identifying him as an unnamed tipster in government telephone recordings used to implicate a Bear Stearns hedge fund trader in the scandal. (Albany Times Union)
Was Ruiz AMD leak? Nov 3, 2009
Ruiz shared confidential information with Danielle Chiesi, a defendant in the insider trading case involving Manhattan hedge fund firm Galleon Group, the newspaper reported on its Web site Tuesday evening. At the time, he was AMD's executive chairman. (Albany Times Union)
From Greg Gordon at McClatchy Nov 3, 2009
"New Orleans' public employees' retirement system, an electrical workers union and the New Jersey carpenters union also are suing Goldman and other Wall Street firms over their losses.The full extent of the losses from Goldman's mortgage securities isn't known, but data obtained by McClatchy show that insurance companies, whose annuities provide income for many retirees, collectively paid $2 billion for Goldman's risky high-yield bonds.Among the bigger buyers: Ambac Assurance purchased $923... (Harper's Magazine)
What other say: Many stock tips aren't suspect Nov 2, 2009
The feds say they made an illegal $20 million in profits between 2006 and 2009 by using secrets to trade in a variety of companies in the biggest insider-trading case involving a hedge fund. Information is valuable, and secret information is the most valuable kind. (Athens Banner-Herald)
Wheat Tailspin Accelerates Signaling 13% Drop to SocGen on Record Harvest Nov 2, 2009
Inventories are more negative for wheat than just about any other commodity in the world, said , the chief investment officer of hedge fund Armored Wolf LLC in Aliso Viejo, California. There is a glut. (Bloomberg -- Australia & New Zealand)
Pandit's `Near Death' Cash Hoard Signals Lower Profits Ahead at U.S. Banks Nov 2, 2009
Its a smart longer-term move, but it will take down the rates of returns these companies can generate, said , chief executive officer of Washington-based , a hedge fund with $1 billion of financial-industry and real estate investments. If you start to see more economic stabilization, then liquidity levels would start dropping, but theyll never go back to the insane level they were pre- crisis. (Bloomberg -- US)
Terminator franchise to be auctioned Nov 2, 2009
Halcyon filed for Chapter 11 after a dispute with Pacificor, a Santa Barbara-based hedge fund that lent Halcyon funds to buy the Terminator rights. The rights to the franchise have changed hands many times and were sold to Halcyon for $25m two years ago by Mario Kassar, who produced Terminator 2: Judgement Day. (CNN -- International)
Gold steadies above $1,040/oz Nov 2, 2009
Net long positions could fall further this month if and when hedge fund managers lock in profits ahead of their year-end book closings. But a drastic fall in the number of such positions is unlikely, Kamei said. (India Times)
CIT Files for Bankruptcy; U.S. Is Unlikely to Recoup $2.3 Billion Bailout Nov 2, 2009
Also providing financing were Oaktree Capital Management LLC and Capital Research & Management Co., both in Los Angeles, and Boston-based hedge fund Baupost Group LLC and Silver Point Capital LP in Greenwich, Connecticut. Finances Trade. (Bloomberg -- US)
Argentina to Win Over Griesa, Gain Access to Overseas Markets, Kiguel Says Nov 2, 2009
Argentine Restructuring May Pave Way for Bond Sales: Week Ahead - Bloomberg. Updated: New York, Nov 02 04:19 London, Nov 02 09:19 Tokyo, Nov 02 18:19. (Bloomberg -- Latin America)
Madoff documents reveal incredulous, unfocused SEC Nov 2, 2009
In 2005, some at the SEC dismissed Markopolos when he presented the agency with a report on Madoff, titled "The World's Largest Hedge Fund is a Fraud.". "I have some qualms about a self identified independent fraud analyst," one investigator wrote to a colleague. (Yahoo News -- Top Stories)
SEC alleges insider trading at San Francisco fund Nov 1, 2009
gleaned nonpublic information through his job at an unidentified private equity fund and from his brother-in-law at a hedge fund that he and others used to reap illegal trading profits of more than $8 million ... gleaned nonpublic information through his job at an unidentified private equity fund and from his brother-in-law at a hedge fund that he and others used to reap illegal trading profits of more than $8 million ... The agency also claims Tang received tips from his brother-in-law, Ronald... (Fresno Bee -- Business)
Goel released in Intel insider trade case Nov 1, 2009
There were several developments Thursday and Friday in the burgeoning hedge fund insider trading case that has roiled both Silicon Valley and Wall Street ... Goel, who has been placed on administrative leave from the VC arm of (Nasdaq: INTC), has been accused of passing public information to Raj Rajaratnam, founder of hedge fund Galleon Group. (San Francisco Business Times, CA)
Rise of Elkann could finally lead to demise of car maker Nov 1, 2009
In February last year, IFIL said it agreed to invest e61m in Hong Kong-based hedge fund manager Vision Investment Management via a convertible bond that could become a 40 percent stake by 2013. One a Friday morning in June Elkann walks into a conference room at his headquarters to talk with reporters about his gamble on Chrysler. (Business Report, South Africa)
* Hedge fund boxers punch, dodge hits for charity Nov 1, 2009
Hedge fund boxers punch, dodge hits for charity ... Contestants slug it out in the ring at the Hedge Fund Fund Night in Hong Kong on Thursday ... Pritchard, a director at the brokerage ITG Hong Kong Ltd, played the odds last night and placed his bet of HK$1,500 (US$194) on 3A Asia Ltds Crane, the oldest boxer at Hong Kongs Hedge Fund Fight Night, because he looked pumped. (Taipei Times, Taiwan -- Business)
SEC Alleges Insider Trading at San Francisco Fund Nov 1, 2009
gleaned nonpublic information through his job at an unidentified private equity fund and from his brother-in-law at a hedge fund that he and others used to reap illegal trading profits of more than $8 million ... The agency also claims Tang received tips from his brother-in-law, Ronald Yee, a 39-year-old former CFO of hedge fund ValueAct Capital. (ABC News -- Wire)
SEC alleges insider trading at San Francisco fund Nov 1, 2009
gleaned nonpublic information through his job at an unidentified private equity fund and from his brother-in-law at a hedge fund that he and others used to reap illegal trading profits of more than $8 million ... gleaned nonpublic information through his job at an unidentified private equity fund and from his brother-in-law at a hedge fund that he and others used to reap illegal trading profits of more than $8 million ... The agency also claims Tang received tips from his brother-in-law, Ronald... (Fresno Bee -- Business)
The hedge 'plunder' Nov 1, 2009
Kiener runs the K1 Fund family and it flagship K1 Global Sub Trust hedge fund of funds -- that is, it uses investor cash to invest in other hedge funds -- which said it managed a net return of 844 percent over the past 13 years, more than 15 times better than the S&P 500 Index ... The money raised was initially used to buy stakes in a number of hedge funds, including at least one managed by a firm Kiener controlled ... Investigators believe the mansion is just one luxury item Kiener may have... (New York Post -- News)
No show and no comment Nov 1, 2009
On Tuesday, The Wall Street Journal reported that Ruiz had been caught up -- although he hasn't been charged -- in a $20 million insider trading scandal by allegedly providing confidential information about the formation of GlobalFoundries earlier this year to a Wall Street hedge fund trader. Ruiz has declined comment through a spokesman. (Albany Times Union)
Former Hedge Fund Executive Charged by SEC Nov 1, 2009
BOSTON (Reuters) - A former top executive at hedge fund firm ValueAct Capital is one of seven people charged with trading on inside information in Acxiom Corp.. Ronald Yee, who had been the San Francisco-based hedge fund firm's chief financial officer until June 2008, was named in a civil suit filed by the Securities and Exchange Commission on Friday ... The hedge fund is not implicated in the scheme in any way and received a no-action letter from the SEC, confirming that it is not a target in... (ABC News -- Wire)
Duff's $100 Million Hedge Fund Spending Spree Fails to Lure Any Investors Oct 31, 2009
Duffs $100 Million Hedge Fund Spree Fails to Lure Investors - Bloomberg ... Duffs $100 Million Hedge Fund Spree Fails to Lure Investors ... Hedge fund phenom hired him four years later as chief operating officer at Tiger Management LLC.. (Bloomberg)
On London: Tightening holds key to rally Oct 31, 2009
As David Einhorn, of hedge fund Greenlight Capital, noted in a recent speech it is possible that something similar could happen this time. An alternative lesson from the double dip the economy took in 1938 is that the GDP [growth] created by massive fiscal stimulus is artificial. (FT.com -- Markets)
Feds pursue fund manager they say stole $1M Oct 31, 2009
3-million Chicago-based hedge fund after a federal regulator sued the funds manager for misappropriating $1 million from his investors. Richmond H. Hamilton Jr., who manages Raleigh Capital Management Inc. from his home in Morocco, diverted the money to pay for personal expenses including an airplane and the lease on a car in the U.S., according to a complaint filed Wednesday in Chicago by the Commodity Futures Trading Commission. (Crain's Chicago Business)
The quiet German - hedge fund founder arrested in fraud case Oct 31, 2009
The German hedge fund manager arrested this week in a widening fraud probe may be a big shot who met the Pope in a private audience and keeps a jet at Frankfurt airport, but he is a mystery to his neighbours. Helmut Kiener, founder of the K1 hedge fund group, was held on Thursday in a case prosecutors said spanned the Atlantic, featured lavish personal spending on planes, a helicopter and 00004000 luxury properties and may have lost banks millions of dollars ... The case focuses on the K1 Global... (Sydney Morning Herald -- Business)
