Brazil's Real to Extend Record-Setting Quarterly Rally, Figueiredo Says Jul 1, 2009
9518 yesterday, said Figueiredo, the founder of Sao Paulo-based Maua Investimentos Ltda, a hedge fund that manages $300 million. That exchange rate would be the strongest since Sept. 22, a week after Lehman Brothers Holdings Inc.s collapse caused global credit markets to seize up. (Bloomberg)
5:15 Capital Starts Bond Hedge Fund With Nod to Who Song for Firm's Name Jul 1, 2009
5:15 Capital Starts Hedge Fund With Nod to Who Song (Update1) - Bloomberg ... 5:15 Capital Starts Hedge Fund With Nod to Who Song (Update1) ... July 1 (Bloomberg) -- Three traders from Brevan Howard Asset Management LLP and RBS Greenwich Capital Markets started a government-bond hedge fund named for one of their favorite songs by. (Bloomberg -- UK)
Sparx Group to Start Global Macro Hedge Fund, President Shuhei Abe Says Jun 30, 2009
Sparx to Start New Global Macro Hedge Fund, President Abe Says - Bloomberg ... Sparx to Start New Global Macro Hedge Fund, President Abe Says ... Managers of global macro hedge funds returned 3. (Bloomberg -- Japan)
Commodity Rally May Be Ending as Production Expands, Hedge Funds Trim Bets Jun 30, 2009
Hedge funds and speculators cut their bets on higher prices by 23 percent in the two weeks ended June 23, the first back-to-back drop since March, based on an using U.S. Commodity Futures Trading Commission data ... Billionaire hedge fund manager on June 20 told Polish television station TVN24 that the worst of the global financial crisis is over ... Hedge funds and other large speculators are holding a net 653,915 contracts betting on higher prices, according to an index of combined positions... (Bloomberg -- Canada)
UK Fund Manager Settles US Market-Timing Case Jun 30, 2009
British hedge fund manager, chief investment officer settle US market-timing case ... A London-based hedge fund manager and its chief investment officer have agreed to a nearly $18 million settlement resolving U.S. regulators' allegations that one of its funds defrauded U.S. mutual funds and investors through trading practices such as market-timing ... Headstart Fund Ltd., a hedge fund that had been incorporated in the Bahamas and is now defunct, will pay a $17 million penalty to resolve a... (ABC News -- Wire)
Can Iceland Be Saved? Jun 30, 2009
Everyone from American hedge fund managers to Austrian dentists found it easy to borrow cheaply at home, or in low-rate currencies like the yen, and buy higher-yielding Icelandic securities. Ingenious bankers even came up with securities to capture this trade, selling 500 billion krona ($4 billion) of glacier bonds to retail investors. (Slate)
Madoff sentencing today; 150 years sought Jun 30, 2009
Hedge fund managers and other marketers who steered client dollars to Madoff also reaped hundreds of millions of dollars in fees based on bogus profits, and the trustee has sought the return of that cash, too. Whatever money is recovered will eventually be pooled and divided up among the victims. (San Francisco Chronicle)
IRS: $10,000 in foreign account? Tell us Jun 30, 2009
Specifically, investors in hedge funds domiciled offshore ought to disclose that to the IRS, said Mary Thomas, a tax accountant at LLP.. At the end of the day, if it s an offshore hedge fund, the U.S. investor needs to be reporting it, she said ... In June, a group of IRS executives at a banker-accountant forum intimated that the updated foreign bank account form should apply to a wider range of people, including hedge fund investors. (New Mexico Business Weekly, NM)
EPA, Dow Chemical resuming dioxin talks Jun 30, 2009
Lisa Lee, also in New York, joins as a reporter focusing on regulatory changes within the investment banking industry, private equity and hedge fund convergence, and the dynamics of LBO financing. "The appointments of Sameer and Lisa reinforce our commitment to bringing frontline industry experience into the Dow Jones fold," said Adam Smallman, global managing editor for investment banking coverage at Dow Jones Newswires. (Fresno Bee -- Business)
REITs poised for rebound, investor says Jun 30, 2009
Mr Carroll said his fund was not run as a vulture or hedge fund as it bought stocks for the longer term. But he said he remained underweight in Australian REITs because many of them still had issues with large debts that they need to repay, due to their investments in non-related property, such as funds management. (Sydney Morning Herald -- Sport)
Tristan Oil re-commits to using sale proceeds to repay bond, including controversial USD 111m tap Jun 30, 2009
A London-based hedge fund assumed an integral role in the fundraising, according to both hedge funds. Some investors have discussed challenging the validity and querying the fungibility of the new notes with the Luxembourg Stock Exchange, the first and a third bondholder said. (FT.com -- Markets)
The Stock Screaming "Buy Me!" Jun 29, 2009
As a former hedge fund analyst, director of research and analysis for The Motley Fool, and now co-advisor for the Motley Fool Income Investor newsletter service, I've read a lot of academic studies in my day, and believe me, a six-percentage-point difference is absolutely enormous. It leads to a powerful yet simple conclusion: If you're a stock investor, you'll profit by being in dividend stocks. (MSNBC -- Business)
Rising national debt raises prospects of eventual inflation Jun 29, 2009
Respected hedge fund adviser 36 South Investment Managers is raising $100 million for a fund that will bet on soaring price increases. And Marc Faber, editor of the Gloom Boom & Doom Report, a newsletter, predicts that U.S. inflation will someday match Zimbabwe's that would be 236 million percent a year. (USA Today -- Money)
Victims' letters tell court about anguish Madoff caused Jun 28, 2009
My neighbor runs a large hedge fund. About five years ago, he wanted to invest (park was his word) money with Madoff, and sent them a Request For Proposal (RFP). (The Palm Beach Post)
Madoff Prosecutors Seek 150-Year Sentence or Minimum Life for Ponzi Scheme Jun 28, 2009
co-founder of hedge fund Bayou Group LLC, was sentenced to 20 years in prison for a $400 million fraud. The government criticized Madoffs claim that he deserves leniency because he surrendered. (Bloomberg)
* Warren Buffett lunch sells for US$1.68 million Jun 28, 2009
Among the previous winners was the hedge fund manager David Einhorn, who bid US$250,100 in 2003. Buffett, 78, built his fortune through Omaha, Nebraska-based Berkshire Hathaway Inc, an insurance and investment company that has close to 80 businesses and tens of billions of dollars of investments. (Taipei Times, Taiwan -- Sports)
Hedge Funds Face Triple Conundrum Jun 27, 2009
The triptych of net exposure, the price of success and the foibles of investors conspire to rule a hedge fund manager's life ... Picture this: Your hedge fund had a pretty good 2008 ... Conundrum number two: Investors in 2008 said that they wanted to see a reversal of market fortunes before writing hedge fund tickets. (BusinessWeek)
FORTRESS NABS SWIG DEBT Jun 27, 2009
Fortress Investment Group, the hedge fund and buyout firm run by Wesley Edens, will acquire a 640 million Manhattan condominium project being built by New York developer Kent Swig through a foreclosure proceeding, according to two people familiar with the transaction. Fortress bought the most senior mezzanine debt on the development and will take ownership of the property from a company Swig controls, said the sources. (New York Post -- Business)
Warren Buffett lunch sells for $1.68 million on eBay in charity auction Jun 27, 2009
Among the previous winners was the hedge fund manager David Einhorn, who bid $250,100 in 2003. Buffett, 78, built his fortune through Omaha, Neb. (USA Today -- Money)
Celtic tiger tamed by the lure of the almighty euro Jun 27, 2009
The Land of the Rising Cod used the unsustainable boom to transform itself into an enormous hedge fund. The country is now bust and may take decades to recover. (Sydney Morning Herald -- World)
And the outlook ... Jun 27, 2009
Billionaire hedge fund manager. Comment: "Crisis over, state intervention required.". (Sydney Morning Herald -- Business)
Regulations? Not in My Backyard Jun 27, 2009
Obama's plan for financial reform has sparked a growing chorus of protest from banks, hedge funds, and other interests ... Hedge funds are calling for caution on rules that go beyond basic registration of the investment pools ... A hedge fund industry official said fund managers are embracing registration roughly three-quarters of funds have registered voluntarily but remain wary of more extensive restrictions. (BusinessWeek)
Elliott's hedged maneuver Jun 26, 2009
With FDAs final approval imminent, hedge fund takes major stake ... RALEIGH As awaits approval of its first product, a New York hedge fund has gained control of enough BDSI shares to become its largest shareholder ... What we re seeing more of is these hedge funds are taking more of these undiversified bets, Warr says. (Raleigh Triangle Business Journal, NC)
Emerging market hedge funds surge Jun 26, 2009
Hedge funds investing in emerging markets have bounced back after one of their worst years during 2008 to rank among the best performers this year to date as managers focusing on undervalued securities in Russia, India and China lead a broad recovery for the group. The average emerging market hedge fund is up 20 ... 1 per cent so far this year according to latest figures by Hedge Fund Research, the data provider. (FT.com -- Markets)
After Madoff: Are We Safer? Jun 26, 2009
Hedge fund regulations will also make investing safer for investors ... President Barack Obama's , announced earlier this month, calls for hedge funds to register with the SEC and be monitored for systemic risk ... While it's unclear what final form the regulations will take, it's clear that a hedge fund like Madoff's should no longer be able to operate without oversight. (BusinessWeek)
European Regulators Target U.S. Firms Jun 26, 2009
President Barack Obama's plan to overhaul financial regulation covers everything from mortgages to hedge funds ... Regulators in Europe also have set their sights on hedge fund managers. (BusinessWeek)
The Fed: The Bond Market's New Hedge Fund? Jun 26, 2009
The Fed: The Bond Market's New Hedge Fund ... The Fed: The Bond Market's New Hedge Fund ... "The Fed's like a hedge fund at a poker game," says Jason R. Graybill, a senior managing director at Carret Asset Management. (BusinessWeek)
Music business pioneer Jun 26, 2009
Now it's in shambles because of technology," said Gideon Yago, head of the IFC Media Project and a former correspondent for MTV News. Videos that accompanied the album became landmarks that set the industry standard, as MTV and cable television began to proliferate, creating ready outlets for a growing marketing tool. At the time, Jackson's label had to fight to get onto MTV, which then featured only rock artists. "Walter Yetnikoff (former president of CBS records) drew a line in the sand and... (CNN -- International)
Hedge-Fund Guy Points Toward Z-Shaped Recovery Jun 25, 2009
The more cynical among you might be tempted to ask what the difference is between a long-only hedge fund, such as ours has become, and a bog standard mutual fund. The answer, to be disarmingly honest, is found in our fee structure. (Bloomberg -- Columnists)
BUSINESS BRIEFS Jun 25, 2009
Bull Path's hedge fund, which has been converted to a mutual fund, was down 23 per cent last year and down 15 percent annualized for the 12-months ended March 31. A story in yesterday's paper said the fund was down 26 percent last year and down 00004000 15 percent in the quarter ended March 31. (New York Post -- Business)
Cuomo Recused Himself in Money Manager Case Linked to Pension Fund Scandal Jun 25, 2009
June 25 (Bloomberg) -- New York Attorney General recused himself from any investigation of , a hedge fund firm that handled his personal and campaign money and received state pension funds from a company he linked to alleged illegal kickbacks, his office said ... Many hedge funds, including EnTrust, then obtained investments of capital from the Liberty Oak fund of funds ... New York State did make an investment in Liberty Oak, a fund of funds it established with CSG which invested in dozens of... (Bloomberg)
CFTC chief: hedge fund oversight needed Jun 25, 2009
Financial Times FT.com. All times are London time. (FT.com -- Markets)
Is the Stock Market Cheap or Expensive? Jun 25, 2009
So says Leon Cooperman who runs Omega Advisors, a New York hedge fund ... Late last week Cooperman laid out his views to a packed room of securities analysts and hedge fund managers in Manhattan. (Time.com)
Buying Like Buffett Beats Investing in Berkshire as Stock Market Rebounds Jun 25, 2009
Some of those liabilities, on derivatives tied to four of the worlds stock markets, may have reversed in the second quarter as the indexes recovered, said , managing director of T2 Partners LLC, a New York-based hedge fund that owns Berkshire shares. Berkshires Value. (Bloomberg -- US)
Brazil Brokers Caught Off Guard as VisaNet IPO Becomes `Credibility' Test Jun 25, 2009
The move may signal increased efforts by the Comissao de Valores Mobiliarios, Brazils securities commission known as CVM, in enforcing regulations, said , co-founder of San Francisco-based hedge fund Lumen Advisors LLC and a former IMF economist. The CVM is seeking to improve oversight of insider trading and information leaks that have deterred investment in the worlds 11th-largest stock market, President said in an interview this month. (Bloomberg -- Latin America)
Sparx Said to Plan U.S. Unit Closure, Investment Firm Tie-Up to Cut Costs Jun 24, 2009
The hedge fund reported a loss in the fiscal year ended March 31, the first since it started operation 20 years ago ... Global hedge funds lost on average last year, the worst performance since Chicago-based started keeping records ... Hedge funds are private, largely unregulated pools of capital whose managers can buy or sell any assets, bet on falling as well as rising asset prices, and participate substantially in profits from money invested. (Bloomberg -- Japan)
NYSE Loses Trades at the Fastest Pace in a Year, Nasdaq Isn't the Winner Jun 24, 2009
Direct Edge plans to introduce a lower-cost trading system once it gains official exchange status from the SEC. The Jersey City, New Jersey, company started operating in October 2005 and is controlled by Goldman Sachs, , the Chicago hedge fund Citadel Investment Group LLC and International Securities Exchange Holdings Inc. in New York. Challenge for Upstarts. (Bloomberg -- US)
Permanent fund's new investment strategy raises concerns Jun 24, 2009
A proposal by permanent fund Chief Investment Officer Jeff Scott to move money into a hedge fund investment raised concerns from some board members ... At one point Scott appeared to bristle at Blunck's questioning of the hedge fund investment, saying "if I can't do anything, I need to know." ... Galvin said the board might want to in the future reconsider how involved it wants to be in investing in hedge funds, but did not block the staff proposal. (Juneau Empire)
Investors bid big for Buffett wisdom Jun 24, 2009
Zhao Danyang, the hedge fund manager who paid more than $US2. 11 million ($2. (Sydney Morning Herald -- Business)
Tollgrade prepares for proxy fight with Ramius Group Jun 24, 2009
In a letter to shareholders, Tollgrade called Ramius an opportunistic hedge fund with a focus on short-term gains and said the proxy contest only serves to interfere with the progress we are making. The company urged shareholders to re-elect Tollgrade s very experienced and highly-qualified directors: Chairman, President and CEO Joseph Ferrara, former managing partner James Barnes, director Daniel Barry, Reed Smith Chief Marketing Officer David Egan and retired SCA North America CFO Brian... (Pittsburgh Business Times, PA)
Only `Swine' I See Are Bankers as Gloom Sets In Jun 24, 2009
Only Swine I See Are Bankers as Gloom Sets In: William Pesek - Bloomberg. Updated: New York, Jun 24 04:21 London, Jun 24 09:21 Tokyo, Jun 24 17:21. (Bloomberg -- Columnists)
Japan Stocks Rise, Led by Electronics Makers; Retailers Drop on Discounts Jun 24, 2009
The rally weve seen is indeed excessive, but it really isnt so unusual considering the economic climate, said , president of Tokyo-based hedge fund Wing Asset Management Co. Theres no better economic indicator than the stock market, and my view that there will be a V-shaped recovery in company earnings is intact. . (Bloomberg -- Japan)
New top banker to fight for confidentiality Jun 24, 2009
"Our industry will continue to develop provided we can make ourselves attractive to top quality hedge fund managers, private equity managers, family offices managers and the new generation of assets manager," he told swissinfo. ch. (SwissInfo.org, Switzerland)
CME's Melamed, Fed's Moskow to advise Infinium on growth Jun 23, 2009
Chuck Whitman, Infiniums CEO, says the board will guide the company as it explores new areas of growth, including the potential establishment of a hedge fund ... In addition to a possible hedge fund, he also is considering expanding into the over-the-counter derivatives markets and providing services to banks that dont have in-house trading desks, he said. (Crain's Chicago Business)
Harvard University loses another top investor Jun 23, 2009
In past years, some of Harvard s biggest investment stars have left to form hedge funds or investment companies of their own. Former chief Jack Meyer left three years ago to launch a $6 billion hedge fund called Convexity Capital Management. (Boston Globe)
Alaska retirement board plans market strategy Jun 23, 2009
New portfolio reduces hedge fund exposure, raises foreign investment ... The board reduced the allocation to the category called "absolute return," which includes hedge funds, at the request of Chief Investment Officer Gary Bader ... Hedge funds can use an extremely wide variety of ways to make money, and can be risky and sometimes controversial, Bader said. (Juneau Empire)
Century, Lafitte back CPIs slate Jun 23, 2009
5 percent of CPI's outstanding shares, as well as Austin-based hedge fund management firm , which owns nearly 8 percent of CPI's shares, said they plan to vote for CPI s of James Abel, Paul Finkelstein, Michael Glazer, Michael Koeneke, David Meyer and Turner White. This is the latest development in an between Meyer, the chairman of CPI, and CPI s largest shareholder, Ramius LLC, a New York investment group, over the makeup of the board. (St. Louis Business Journal, MO)
Reuters to end its London listing Jun 23, 2009
"The fact that the stock is irrationally undervalued in London is putting a drag on the value of the stock in New York and Toronto," said Todd Bourell, a partner at hedge fund ValueAct Capital, which owns 12 million Thomson Reuters shares. Bookmark with. (BBC News -- Business)
* Mind your BlackBerry or mind your manners Jun 23, 2009
In Dallas, a college student sunk his chance to have an internship at a hedge fund last summer when he pulled out a BlackBerry to look up a fact to help him make a point during his interview, then lingered X momentarily, but perceptibly X to check a text message a friend had sent, said Trevor Hanger, the head of equity trading at the hedge fund, who was helping conduct the interview. Very few companies have policies on smartphone use, which leaves it up to employees to feel their way across... (Taipei Times, Taiwan -- Sports)
Investor anxiety surges as stock markets relapse Jun 23, 2009
"The market," says hedge fund manager Patrick Adams of Choice funds, "is coming to realize that the economic news is better but not good.". That fear was reinforced Monday when the World Bank cut its outlook for global growth to negative 2. (USA Today -- Money)
Scoop: Whats next for Jon and Kate? Jun 23, 2009
Meet Jon, your newest C-list celebOne upshot of the recession is that the C-list celebrity has largely gone the way of the hedge fund. C-listers arent as ubiquitous as they were just a year ago, and they arent just collecting money by virtue of the fact they exist. (MSNBC -- Gossip)
Obama Bulks `Up Too Big to Fail' With Steroids Jun 23, 2009
This past year, the federal government took the guesswork out by designating Fannie Mae and Freddie Mac, 19 of the biggest banks, two car companies and one insurance company acting like a hedge fund as charter members. We need to get rid of too big to fail, says , professor of political economy at Carnegie Mellon University in Pittsburgh. (Bloomberg -- Columnists)
Derivatives Get Second Look From U.S. Lawmakers Who Passed Before Meltdown Jun 22, 2009
They became a popular vehicle for hedge funds, insurance companies and other asset managers to speculate on the quality of debt or on the creditworthiness of companies because they were often easier and cheaper to trade than bonds. Citadel Investment Group LLC Chief Executive Officer , whose $11 billion hedge fund may be forced to hold capital to back its trades linked to interest-rate swaps and credit-default swaps under the proposed regulations, is also scheduled to testify today ...... (Bloomberg -- US)
Soros says the worst of crisis is over Jun 22, 2009
WASHINGTON - Billionaire hedge fund manager George Soros said the worst of the global financial crisis is over, and called for new international regulations to maintain open markets. Definitely, the worst is behind us, Hungarian-born Soros said in an interview yesterday with the Polish television station TVN24. (Boston Globe)
Worst of crisis behind us: Soros Jun 22, 2009
Billionaire hedge fund manager George Soros said the worst of the global financial crisis is over, and called for new international regulations to maintain open markets. "Definitely, the worst is behind us," Hungarian-born Soros said in an interview yesterday on Polish television. (Sydney Morning Herald -- Business)
Warren Buffett Lunch Bidding Hits $25,400 as Charity Auction Opens on EBay Jun 22, 2009
Past auction winners include , founder of hedge fund Greenlight Capital LLC, who paid $250,100 in 2003, the first year the bidding was conducted by San Jose-based EBay ... Spier is principal at hedge fund Aquamarine Funds LLC. Both own Berkshire shares. (Bloomberg -- Germany)
Arrests of Rafsanjani kin show Iran clerics split Jun 22, 2009
" In his Friday sermon, Khamenei sided firmly with Ahmadinejad, calling the result "an absolute victory" that reflected popular will and ordering opposition leaders to end their street protests. Mousavi did not directly reply to the ultimatum. His camp, meanwhile, denied reports that he had proclaimed himself ready for martyrdom on Saturday. "Mousavi has never said this," his close ally, Qorban Behzadiannejad, told the AP. Mousavi's Web site also said statements that Mousavi was preparing for... (Time.com)
How to Reach Teens in a Recession? Ask Aeropostale Jun 22, 2009
" Klinefelter predicts teens will start spending at high levels again in six months to a year. So before then, enjoy the sight of young shoppers scouring for discounts. Teens won't stay thrifty forever. Down economy or not, they're still teens. MORE... Add to my: Blog this on: "" GEORGE SOROS, billionaire hedge fund manager, speaking on the global financial crisis in a recent television interview /time/includes/article_video.xml Video Time.com on Digg POWERED BY digg Top Stories on TIME.com ""... (Time.com)
THE WEEK'S WINNERS & LOSERS Jun 22, 2009
Former Deutsche Bank trader opens his own hedge fund with more than 1B in assets. MARCY SYMS. (New York Post -- Business)
The Next Millionaire-Maker Megatrend Jun 22, 2009
Granted, much of this poor performance can be blamed on general market turmoil, massive hedge fund sell-offs, cheaper oil and gas, tightening credit, and ever-present recession fears. But it reminds us that just because you recognize a developing megatrend, you're not guaranteed tocash in on it. (MSNBC -- Business)
World Bank Cuts Global Forecast, Sees `Substantial' Effect on Poor Nations Jun 22, 2009
The lenders view also contrasts with that of billionaire hedge fund manager , who on June 20 told Polish television that the worst of the global financial crisis is behind us. . (Bloomberg -- Latin America)
* World Business Quick Take Jun 20, 2009
SWF eyes more hedge funds. China Investment Corp (CIC, q), the nations US$200 billion sovereign wealth fund, may invest as much as US$500 million in hedge funds, including those run by Blackstone Group LP, two people familiar with the matter said ... CIC aims to allocate US$6 billion to hedge funds by the end of this year, company adviser Felix Chee said at the GAIM International hedge fund conference earlier this week at Monacos Grimaldi Forum. (Taipei Times, Taiwan -- Business)
No Carl, You Cahn't Jun 20, 2009
JUDGE RULES AGAINST ICAHN ON HEDGE FUND ... Billionaire activist investor Carl Icahn yesterday lost his battle to stop hedge-fund manager Warren Lichtenstein from taking his troubled hedge fund public ... Given that, investors who want to redeem their stakes in the hedge fund aren't likely to be paid in cash when the fund goes public. (New York Post -- Business)
Briefing: Wasting assets Jun 19, 2009
The biggest area of expansion for boutique managers over the past decade has, of course, been in hedge funds ... But poor performance in 2008, when the average hedge fund lost 19%, has led to a mass exit of clients and managers ... Not only have their revenues from alternative asset classes such as hedge funds been declining, they also face the prospect of losing retail clients to ETFs. (The Economist)
Jeff Sachs On Carbon Trading Jun 19, 2009
Volcker, Central Banks On Crisis Global leaders' vision for hedge fund regulation, markets and banks ... Deleveraging On Wall St. Investment strategist sees opportunities in buying assets from hedge funds in distress ... Sailing To Victory Shoreline Trading Group wins Hedge Fund Regatta. (Forbes -- Business)
