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Keyword: hedge

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  • Steyer Hedge Fund Tied to Russian Oligarch Targeted by U.S. Sanctions

    05/07/2014 9:21:58 AM PDT · by Nachum · 2 replies
    Washington Free Beacon ^ | 5/7/14 | Adam Kredo
    The hedge fund founded and, until recently, run by billionaire environmentalist Tom Steyer was involved in a deal to sell a stake in a Russian oil company to a Russian oligarch who is the target of U.S. sanctions. Farallon Capital Management sold a part of its stake in Russian firm Geotech Oil Services to the Volga Group, a Luxembourg-based investment firm owned by Russian billionaire Gennady Timchenko, in 2010. Four years later, in April 2014, the U.S. Treasury Department announced that it would target Timchenko, Volga, and a number of companies associated with them, in a round of sanctions aimed...
  • Bitcoin hedge fund launches with Silicon Valley and Wall St. support

    03/19/2014 8:00:59 AM PDT · by Errant · 10 replies
    CNN Money ^ | 19 March 2014 | Dan Primack
    Last December, I wrote that Fortress Investment Group was preparing to launch a fund that would buy and hold Bitcoin. I also wrote that while details were scarce," there was "some relationship to a new Bitcoin-related fund raised by Pantera Capital, a San Francisco-based hedge fund whose clients are known to include several Fortress executives." Here is what I now know: Fortress has invested directly in Pantera Bitcoin Partners, the limited liability company overseeing Pantera's Bitcoin fund. Moreover, all future purchases of Bitcoin or other crytpocurrencies by Fortress and its principals will be made via Pantera. In other words, there...
  • Hedge fund titan, giant of philanthropy leaps to his death after stroke (Robert W. Wilson)

    12/25/2013 11:35:14 AM PST · by Libloather · 36 replies
    NY Post ^ | 12/24/13 | Emily Smith, Dana Sauchelli
    Multimillionaire philanthropist Robert W. Wilson, 86, took his own life Monday by throwing himself from his luxury Upper West Side high-rise apartment, just a few months after suffering a debilitating stroke, sources said. The former Wall Street hedge fund titan — who donated hundreds of millions to charity — left a note before leaping at about 11 a.m. from the 16th floor of the famed San Remo, which overlooks Central Park West, cops said. “He was 86 and suffered a stroke a few months ago,” said Wilson’s friend, Stephen Viscusi. “He always said he didn’t want to suffer, and when...
  • Prof. Dershowitz Hedges Allon Plan Support after Langfan Op-Ed

    04/30/2013 6:00:53 PM PDT · by Eleutheria5 · 2 replies
    Arutz Sheva ^ | 30/4/13
    Prof. Alan Dershowitz, appearing at the Jerusalem Post Conference in New York this week, spoke about his plan to restart the peace talks. Dershowitz, who has not official position in Israel, spoke to PA President Mahmoud Abbas and suggested a version of the Allon Plan of 1970. His suggestion for a "tripartite settlement freeze" was panned by Israel's Minister of International Affairs, Yuval Steinitz, as well as by former National Security Advisor to PM Netanyahu, Dr. Uzi Arad, who opposed "ulilateral concessions." AFSI's newly elected Chairman, Attorney Mark Langfan, sent an open letter to Prof. Dershowitz for posting in the...
  • Jon Corzine Might Launch His Own Hedge Fund (perp wants to rebuild his image)

    08/19/2012 12:40:17 PM PDT · by Libloather · 20 replies
    Investor Place ^ | 8/17/12 | Christopher Freeburn
    Jon Corzine Might Launch His Own Hedge FundHe is unlikely to face criminal charges over the failure of MF Global By Christopher Freeburn, InvestorPlace Writer Aug 17, 2012, 9:28 am EDT With reports circulating that federal regulators will not seek criminal charges in the collapse of brokerage MF Global, the firm’s former head, Jon Corzine is considering a new career option. The one-time Governor of New Jersey and former head of Wall Street giant Goldman Sachs (NYSE:GS), is mulling the idea of starting his own hedge fund, according to the New York Times. **SNIP** However, sources close to the former...
  • NY FBI Opens Inquiry into JPMorgan Chase Loss: Sources

    05/15/2012 9:40:00 AM PDT · by dynachrome · 14 replies
    NBC New York ^ | 5-15-12 | Shimon Prokupecz and Jonathan Dienst
    The FBI in New York has opened an inquiry into JP Morgan Chase's $2 billion loss, NBC 4 New York has learned. People familiar with the matter tell NBC 4 New York that the inquiry is not a criminal investigation. The FBI is taking a preliminary look at the incident. JPMorgan Chase CEO Jamie Dimon disclosed last week that the bank had lost the $2 billion by making a bad bet with so-called credit derivatives. Investors lopped off nearly 10 percent from JPMorgan's stock price the next day, and 3 percent more on Monday. Since Dimon made the announcement, nearly...
  • JPMorgan shares slump 6.5pc after chief Jamie Dimon reveals $2bn trading loss

    05/10/2012 5:30:50 PM PDT · by bruinbirdman · 29 replies
    The Telegraph ^ | 5/10/2012 | Richard Blackden
    JPMorgan Chase chief executive Jamie Dimon has shocked Wall Street by disclosing the bank racked up $2bn (£1.2bn) of trading losses in the past six weeks and warned they could get worse. “It puts egg on our face and we deserve any criticism we get,” Mr Dimon told analysts in a hastily arranged call after stock markets closed in New York on Thursday night. America’s second-biggest bank said that the losses stemmed from a series of complex trades that were designed to hedge the bank's overall risk. Some of the losses have been offet by gains of about $1bn from...
  • The $2 Billion Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market

    05/12/2012 10:44:24 AM PDT · by SeekAndFind · 41 replies
    The Economic Collapse Blog ^ | 05/12/2012 | Michael Snyder
    When news broke of a 2 billion dollar trading loss by JP Morgan, much of the financial world was absolutely stunned. But the truth is that this is just the beginning. This is just a very small preview of what is going to happen when we see the collapse of the worldwide derivatives market. When most Americans think of Wall Street, they think of a bunch of stuffy bankers trading stocks and bonds. But over the past couple of decades it has evolved into much more than that. Today, Wall Street is the biggest casino in the entire world....
  • A Hedge or a Bet? Trade Highlights Ambiguity in Volcker Rule(Dodd-Frank)

    05/12/2012 7:02:16 AM PDT · by Son House · 7 replies
    Wall Street Journal ^ | May 11, 2012 | VICTORIA MCGRANE And KRISTINA PETERSON
    Regulators have a July deadline to finish the rule, but officials have said it appears unlikely they will meet it. The October draft rule issued by the Fed, the Securities and Exchange Commission and other regulators permits what is known as "portfolio hedging," or buying and selling in order to reduce the risk of a portfolio of securities held at the bank. Messrs. Merkley and Levin say regulators inserted a "loophole" into the rule's draft. The Dodd-Frank law says banks can conduct hedging activities related to "individual or aggregated positions." It is unclear whether that includes buying or selling to...
  • New Chief of Staff: Former Hedge Fund Exec. at Citigroup, Made Money Off Mortgage Defaults

    01/09/2012 6:39:37 PM PST · by Nachum · 5 replies
    Weekly Standard ^ | 1/9/12 | Daniel Halpe
    President Obama's first chief of staff Rahm Emanuel once sat on the board of troubled federal mortgage giant Freddie Mac. Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co. So of course there should be little surprise that Obama's latest chief of staff, announced today by the president himself, also has deep ties to the financial industry himself. From 2006-2008, Jack Lew was chief operating officer of Citibank's alternative investments division (snip)that made billions of dollars betting "U.S. homeowners would not be able
  • S&P chief resigns; hedge fund seeks parent split

    08/23/2011 10:45:08 AM PDT · by Nachum · 4 replies
    Associated Press ^ | 8/23/11 | CHRISTINA REXRODE
    NEW YORK (AP) -- Standard & Poor's wild month continues. The president of S&P is stepping down just two weeks after the rating agency stripped the United States of its AAA credit rating. At the same time, an activist hedge fund is calling for S&P's parent to break into four separate companies to unlock more value for shareholders. McGraw-Hill Cos., the parent company, said that the resignation of Deven Sharma was not related to Jana Partners' break-up proposal or to S&P's polarizing decision to downgrade its rating on U.S. debt. McGraw-Hill named Citibank's chief operating officer, Douglas Peterson, to the...
  • Smart Money: Hedge funds sell faltering U.S. banks

    05/31/2011 9:49:17 PM PDT · by Nachum · 2 replies
    Reuters ^ | 5/31/11 | Maria Aspan
    (Reuters) - The recovery of Citigroup and Bank of America provided famed hedge fund managers like Lee Ainslie and Jeff Altman some of their biggest gains last year, but now the smart money is getting out while the getting is good. With Ainslie's Maverick Capital, Altman's Owl Creek Asset Management and other major funds backing away from the banking sector in the first quarter, financials suffered the biggest decrease in sector holdings among the Smart Money 30, a group of some of the largest stock-picking hedge funds. Ainslie, Altman and Stephen Cucchiaro's Windhaven Investment Management dumped their entire holdings in...
  • Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies into Survivalists

    05/19/2011 7:51:55 AM PDT · by OB1kNOb · 39 replies
    The New York Observer ^ | May 17, 2011 | Foster Kamer
    On the rare occasion that New Yorkers talk about farming, it's usually something along the lines of what sort of organic kale to plant in the vanity garden at the second house in the Adirondacks. But on a recent afternoon, The Observer had a conversation of a different sort about agricultural pursuits with a hedge fund manager he'd met at one of the many dark-paneled private clubs in midtown a few weeks prior. "A friend of mine is actually the largest owner of agricultural land in Uruguay," said the hedge fund manager. "He's a year older than I am. We're...
  • University of Texas Takes Delivery Of $1 Billion In Physical Gold

    04/16/2011 5:15:45 PM PDT · by The Magical Mischief Tour · 75 replies
    Zero Hedge ^ | 04/16/2011 | Tyler Durden
    Tipping points are funny: for years, decades, even centuries, the conditions for an event to occur may be ripe yet nothing happens. Then, in an instant, a shift occurs, whether its is due a change in conventional wisdom, due to an exogenous event or due to something completely inexplicable. That event, colloquially called a black swan in recent years, changes the prevalent perception of reality in a moment. This past week, we were seeing the effect of a tipping point in process, with gold prices rising to new all time highs day after day, and the price silver literally moving...
  • The Top 25 Hedge Fund Earners In 2010

    04/05/2011 10:07:44 AM PDT · by Nachum · 1 replies
    #25 Dan Loeb: $210 Million #25 Dan Loeb: $210 Million Image: 1440wallstreet.com Fund: Third Point What you need to know about Dan Loeb: He may be about to have some embarassing emails come out He's betting on energy
  • Goldman Defuses The 'Religion' Of Gold: It Is Not An Inflation Hedge & The Rally Is Fading

    02/11/2011 7:33:03 AM PST · by SeekAndFind · 24 replies
    Business Insider ^ | 02/11/2011 | Gus Lubin
    A note from Goldman Sachs pees all over gold fever (via Prag Cap). Although Goldman recently named a bullish target for gold, the research note says other investments will offer better returns in 2011: "For our part, we expect a combination of stronger US growth, a strengthening dollar, temperate inflation and generally higher risk-asset prices to raise the opportunity cost of holding gold, particularly as real rates normalize higher. Even so, momentum is a powerful market force, and it’s unclear how long strong investor demand will persist. Given these competing tensions, gold does not screen as a compelling tactical opportunity...
  • Gold hits two-month low as haven appeal wanes (is this a buying opportunity, or a trend?)

    01/21/2011 9:29:26 AM PST · by SeekAndFind · 10 replies
    Reuters ^ | 01/21/2011 | Jan Harvey
    Gold touched a two-month low in Europe on Friday, pressured by a firmer appetite for assets seen as higher risk on expectations the economic recovery was gaining traction, but a retreat in the dollar prevented a steeper drop. The metal is heading for a third consecutive weekly loss and its weakest monthly performance since July as a more optimistic view of global economic growth and stability boosted investment in assets seen as higher risk, like stocks, at gold's expense. Spot gold fell as low as $1,340.80 an ounce and was bid at $1,343.80 an ounce at 1217 GMT, against $1,345.40...
  • Hedge Fund figure financed mosque campaign

    01/18/2011 6:50:24 PM PST · by Nachum · 4 replies
    politico ^ | 1/18/11 | ben smith
    POLITICO's Maggie Haberman emails that she's solved a lingering mystery from the now-nearly-forgotten summer storm around a planned Islamic center in Lower Manhattan. Robert Mercer, the co-CEO of the giant hedge fund manager Renaissance Technologies, appears to have financed the ad campaign entirely himself, through a $1 million contribution on July 26 to the New York State Conservative Party, according to a filing today by the party's housekeeping account. Conservative Party Chairman Mike Long confirmed to Haberman that Mercer was the source of the ad money. Mercer had maxed out to the account of Rick Lazio, but the Conservative Party's...
  • Gold: Long-Term Hedge or Bubble About to Burst? (A debate on whether to love it or leave it)

    12/08/2010 6:43:59 AM PST · by SeekAndFind · 34 replies
    Kiplingers ^ | 12/08/2010 | Andrew Tanzer, Senior Associate Editor, Bob Frick, Senior Editor
    Andrew Tanzer: Love It The surge in gold prices to about $1,400 an ounce makes perfect sense. Confidence is waning in paper money, such as the dollar, and for good reason. Our monetary and fiscal policies are remarkably lax, debasing our currency as a store of value and raising the specter of inflation down the road. The Federal Reserve Board continues to pump money into the economy, and we will run huge budget deficits as far as the eye can see, dramatically expanding our financial liabilities. Martin Murenbeeld, an economist at Canada's DundeeWealth Economics, shows that over the past decade,...
  • Why Gold Can Surge, Even With Inflation Expectations At Zero (Not even an Inflation Hedge Anymore?)

    09/20/2010 7:30:11 AM PDT · by SeekAndFind · 16 replies
    Business Insider ^ | 09/20/2010 | Joe Weisenthal
    A question we've heard lately is: why is gold rallying when inflation expectations are nil? First of all gold historically has been a lousy inflation hedge, which should make you question whether its connection to inflation is at all warranted. After all, let's think through what inflation expectations really mean. If investors saw inflation, it would mean they saw a scenario whereby too much cash was flowing into the economy, creating price increases in things like wages, rents, and normal consumer goods. Or to put it another way, it would mean they see very little slack in the economy. But...
  • The German Government Has Had Enough

    05/19/2010 12:10:08 AM PDT · by DontTreadOnMe2009 · 26 replies · 1,200+ views
    The Market Ticker ^ | May 18, 2010 | Karl Denninger
    It appears that the German Government has just plain had enough of the crap that the banksters have tried to pull, and has decided to do what Barack Obama should have done in early 2009. That is: No more naked credit crap, especially against sovereigns but not only against sovereigns. No insurable interest, no CDS - period. Naked shorting will now be actually stopped in 10 leading financial institutions. Germany has had it with naked shorting of Gold, and specifically noted bank manipulation of gold prices via naked shorts beyond intent or ability to deliver.
  • At Center Of Insider Case: 'The Octopussy'

    11/06/2009 12:58:13 AM PST · by bruinbirdman · 3 replies · 564+ views
    Forbes ^ | 11/5/2009 | Liz Moyer
    Charges against 14 snared in insider-trading probe make for unusually entertaining reading. The insider-trading case outlined by federal prosecutors in New York Thursday has all the elements of a classic television crime drama: wiretaps, clandestine cash handoffs and people with nicknames like "the Greek" and "octopussy." Authorities say a trader known as "the octopussy" is at the center of the ring, which included other traders, a Moody's Investors Service analyst, and hedge fund managers, and two lawyers, one of whom was a young associate who allegedly passed along tips about private-equity deals being done by his big law firm's clients....
  • 14 more charged in insider trading

    11/06/2009 9:24:01 AM PST · by WL-law · 2 replies · 263+ views
    Washington Times ^ | 11-06-09 | staff
    NEW YORK (AP) | Two lawyers and Wall Street professionals were among 14 people charged Thursday in a widening $53 million insider trading case that has snared one of America's richest men and accused white-collar suspects of using the cover-up tactics of drug dealers. The actions raise to 20 the number of people who have been charged in the case first disclosed last month with the arrests of Galleon Group founder and hedge-fund operator Raj Rajaratnam and five others. .. Mr. Bharara said the defendants borrowed a "page from the drug dealer's playbook" by using anonymous hard-to-trace prepaid cell phones...
  • Gold a hedge and no more - yet

    09/14/2009 10:54:58 AM PDT · by BGHater · 27 replies · 1,118+ views
    The Asia Times Online ^ | 15 Sep 2009 | Spengler
    Even a rather wobbly reserve currency is a better asset than gold, whose price again crossed the US$1,000 mark last week.Gold is far less liquid than US Treasury securities,costly to store and insure,and above all far more volatile in price. Gold's price volatility since January 2000(the standard deviation of the daily price divided by the average) is 45%, almost triple that of the US dollar-euro exchange rate. In a functioning world financial system,in which investors trust governments to control extreme instability, even an indifferently managed reserve currency with a broad capital market behind it is better than gold. Strictly speaking,...
  • Gold: The investment you hope won't pay off

    02/23/2009 9:48:37 PM PST · by Lorianne · 13 replies · 798+ views
    SINGAPORE: Gold is rapidly becoming the only welcoming port in a sea of uncertainty as worries rise over other traditional safe havens, including Why invest in Gold now? And with few signs that the world's worst economic crisis since the 1930s is close to bottoming out, wrung-out investors will keep on pumping money into gold-backed securities as insurance against financial Armageddon. "Gold is an investment you hope you never make money on. If you do, it means other markets have lost," said Stephen White, director at Sydney-based treasury advisory firm Noah's Rule. Gold's gains are being powered by two forces...
  • Shakeout Roils Hedge-Fund World

    06/17/2008 2:55:41 PM PDT · by shrinkermd · 15 replies · 232+ views
    Wall Street Journal ^ | 17 June 2008 | GREGORY ZUCKERMAN
    The hedge-fund business -- among the most reliable fortune-producing machines in recent years -- is going through a shakeout. ...Managers of hedge funds -- private partnerships that cater to wealthy individuals and institutions and are less regulated than, say, mutual funds -- like to think of themselves as a unique breed, capable of racking up big profits from opportunities that ordinary investors overlook. But in fact their profession is tracing the path of other businesses, whether autos or computers, that enjoyed rapid growth, led by aggressive entrepreneurs, before confronting deep challenges. And just as, say, eBay Inc. and Yahoo Inc....
  • PERHAPS 60% OF TODAY'S OIL PRICE IS PURE SPECULATION

    05/18/2008 11:05:09 AM PDT · by seowulf · 41 replies · 146+ views
    Financial Sense Editorials ^ | May 2, 2008 | F. William Engdahl
    The price of crude oil today is not made according to any traditional relation of supply to demand. It’s controlled by an elaborate financial market system as well as by the four major Anglo-American oil companies. As much as 60% of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price. How? First, the crucial role of the international oil exchanges in London and New York is crucial to the game. Nymex...
  • Treasury considers new use of Fed powers

    04/29/2008 3:34:13 PM PDT · by kc8ukw · 20 replies · 197+ views
    Financial Times ^ | April 29, 2008 | Gillian Tett and Krishna Guha
    Banks, hedge funds and other financial institutions could find their investment strategies curtailed by the Federal Reserve to reduce the risk to the economy from asset bubbles, the US Treasury said on Tuesday. David Nason, the assistant secretary for financial institutions, said the US central bank should use its proposed new powers as a stability regulator to “lean against the wind” by forcing institutions to change their investment strategy if it judged they threatened the wider economy.
  • Peloton lays blame on Wall Street lending crackdown for hedge fund liquidation

    02/29/2008 5:12:14 PM PST · by BGHater · 2 replies · 100+ views
    Bloomberg News ^ | 29 Feb 2008 | Bloomberg News
    NEW YORK: Peloton Partners, the hedge fund manager that is liquidating a $1.8 billion asset-backed fund, says that it is a victim of Wall Street's reduced lending. "Credit providers have been severely tightening terms without regard to the creditworthiness or track record of individual firms, which has compounded our difficulties and made it impossible to meet margin calls," the Peloton co-founders, Ron Beller and Geoff Grant, said Thursday in a letter to clients. Peloton, based in London, joins Thornburg Mortgage and Sailfish Capital Partners on the growing list of funds and companies that have had to sell securities or shut...
  • Arcane Market Is Next to Face Big Credit Test (credit default swaps)

    02/17/2008 5:52:04 PM PST · by Travis McGee · 214 replies · 450+ views
    New York Times ^ | Feb 17, 2008 | Gretchen Morgenson
    Few Americans have heard of credit default swaps, arcane financial instruments invented by Wall Street about a decade ago. But if the economy keeps slowing, credit default swaps, like subprime mortgages, may become a household term. Credit default swaps form a large but obscure market that will be put to its first big test as a looming economic downturn strains companies’ finances. Like a homeowner’s policy that insures against a flood or fire, these instruments are intended to cover losses to banks and bondholders when companies fail to pay their debts. The market for these securities is enormous. Since 2000,...
  • Citigroup Stops Withdrawals from Hedge Fund

    02/16/2008 5:21:28 PM PST · by Travis McGee · 30 replies · 204+ views
    cnbc ^ | Feb 15, 2008 | None Given
    Citigroup Stops Withdrawals from Hedge Fund: WSJ Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported Friday. The largest U.S. bank suspended redemptions in CSO Partners, a fund specializing in corporate debt, after investors tried to pull more than 30 percent of its roughly $500 million of assets, the newspaper said. Citigroup injected $100 million to stabilize the fund, which lost 10.9 percent last year, the newspaper said. The fund's manager, John Pickett, left following a dispute...
  • Al Gore joins famed Silicon Valley venture capital firm (a Kleiner Perkins Caufield & Byers partner)

    11/12/2007 10:40:51 AM PST · by NormsRevenge · 41 replies · 223+ views
    Reuters on Yahoo ^ | 11/12/07 | Eric Auchard
    SAN FRANCISCO (Reuters) - In a career marked by second acts, Al Gore, the former vice president of the United States and co-winner of the Nobel Peace Prize, is becoming a partner at Silicon Valley's most storied venture capital firm. Kleiner Perkins Caufield & Byers said on Monday that Gore, a campaigner for action to slow global climate change, will join the Menlo Park, California-based venture capital firm as a partner focused on alternative energy investments. The venture firm, which since 1972 has backed seminal computer start-ups ranging from Sun Microsystems to Compaq Computer to Amazon.com to Google Inc, has...
  • Top US fund managers earn 22,255 times average wage

    08/30/2007 3:25:41 PM PDT · by stainlessbanner · 31 replies · 746+ views
    economictimes-india ^ | 30 Aug, 2007
    DELHI: Top private-equity and hedge fund managers made more in 10 minutes than average-paid US workers earned all of last year, according to a new study from two research groups. The 20 highest-paid fund managers made an average of $657.5 million, or 22,255 times the US average annual salary of $29,500, said the study, released on Wednesday by Institute for Policy Studies and United for a Fair Economy. The study cited data from the US Labor Department and Forbes magazine. “The fact that these pay levels for fund managers are so out-of-sight is going to drive up pay at...
  • Enough Is Enough

    07/26/2007 9:38:25 AM PDT · by hripka · 18 replies · 784+ views
    PIMCO Bonds ^ | August 2007 | Bill Gross
    "The rich are different from you and me," wrote Fitzgerald and I suppose they are, but the differences – they wax and wane with the economic tides. Gilded ages come, go, and are reborn on the monsoon cloudbursts of seemingly intangible forces such as globalization, innovation, and favorable tax policy. For the rich to be truly rich and multiply their numbers, they need help. Adept surfers they may be, but like all riders, the wealthy need a seventh wave that allows them to preen their skills and declare themselves masters of their own universe, if only for a moment in...
  • Edwards has close ties to rich folks' tax havens

    04/24/2007 2:56:05 PM PDT · by george76 · 39 replies · 1,585+ views
    The Washington Post ? The News & Observer ^ | April 24, 2007 | John Solomon and Alec MacGillis,
    Two years ago, former senator John Edwards of North Carolina, gearing up for his second run at the Democratic presidential nomination, gave a speech decrying the "two different economies in this country: one for wealthy insiders and then one for everybody else." Four months later, he began working for the kind of firm that to many Wall Street critics embodies the economy of wealthy insiders -- a hedge fund. Edwards became a consultant for Fortress Investment Group, a New York-based firm known mainly for its hedge funds, just as the funds were gaining prominence in the financial world ... run...
  • $2.73 a Gallon? Not at First Fuel Banks

    05/07/2006 2:23:15 PM PDT · by nickcarraway · 49 replies · 1,756+ views
    Excite ^ | May 7 | GREGG AAMOT
    ST. CLOUD, Minn. (AP) - Most motorists are feeling the pain as gasoline creeps toward, or over, $3 a gallon - but not Art Altrichter. "This feels pretty good!" Altrichter said as he filled the tank of his Ford F-150 pickup for $2.03 a gallon on Thursday, when the average here was $2.73. "Right now, to be a few pennies over $2, when it's as high as it is? That's a real deal." A year ago, the retired milk truck driver bought 500 gallons of gas at First Fuel Banks, locking it in at the then-current price of $2.03 a...
  • Thieves stole family's new hedge

    07/01/2005 1:15:13 PM PDT · by Red Badger · 28 replies · 701+ views
    Aftenposten ^ | 6-28-2005 | Nina Berglund
    A family in western Norway was hit by an unusual theft at their home in Sædalen, Hordaland County, this week. A newly planted hedge in their front yard was rudely uprooted and carted away. "After the initial shock, I just felt very sad," Kristin Molvik Botnmark told newspaper Bergens Tidende on Tuesday. Her husband, Børre Botnmark, has a few theories on the disappearance of the 32 plants that made up their new hedge. "It may be a theft ordered by someone wanting a new hedge," he said. "Or it could be a band of thieves who drive around and offer...
  • If I Only Had a Hedge Fund (I wouldn't Be Posting on FR)

    03/28/2005 6:12:50 PM PST · by shrinkermd · 22 replies · 1,160+ views
    NYT ^ | 27 March 2005 | Jenny Anderson and Riva Atlas
    IT seemed like an ordinary evening at Crobar, the trendy Manhattan nightclub. Two weeks ago, as Counting Crows performed on stage, young women dressed in expensive jeans pushed toward the front with their khaki-clad, mostly older boyfriends. Few, however, were regulars. On this night, the very rich and the merely rich intermingled on the club's two floors - V.I.P.'s upstairs ($1,000 a ticket) and the rest down below ($250). Most of the 1,250 people gathered for the event, the Robin Hood Foundation charity ball, were part of the city's unlikely new "it" crowd. Richer than Wall Street rich and more...
  • Road Rules for Hedge Funds

    12/15/2004 3:53:28 AM PST · by shrinkermd · 9 replies · 781+ views
    NYT ^ | 15 December 2004 | FRANK PARTNOY
    San Diego — LAST Friday, Carl C. Icahn, one of Wall Street's perennial players, filed a lawsuit against a large hedge fund, accusing it of stock manipulation in a takeover battle. The suit came just a week after the Securities and Exchange Commission posted new rules requiring hedge funds to register with the agency. Should hedge funds be the next frontier for financial regulators? The answer is yes, as long as the oversight isn't overzealous. The most important players in today's financial markets, hedge funds are also the least understood. They are not, as one might suppose, funds that hedge...
  • HEDGE FUNDS COULD BE NEW BUBBLE

    12/06/2004 4:42:55 PM PST · by shrinkermd · 23 replies · 758+ views
    NY Post Online ^ | 5 December 2004 | TERRY KEENAN
    ON Wall Street, almost every year has its moniker: 1987 was the "Year of the Crash"; 1999, the "Year of the Dot-Com Bubble"; and 2002: the "Year of the Corporate Scandal." And 2004? It undoubtedly will go down as the "Year of the Hedge Fund." Yes, these once "oh-so-exclusive" investment vehicles have sprouted like weeds of late, to the point where there are now twice as many hedge funds as there are stock mutual funds.
  • CalPERS ups ante in hedge funds

    11/22/2004 8:41:55 AM PST · by NormsRevenge · 15 replies · 878+ views
    Sac Bee ^ | 11/22/04 | Gilbert Chan
    CalPERS isn't afraid to break from the pack. Despite warnings that the risky hedge fund industry is nearing a bubble, the mammoth California Public Employees' Retirement System is forging ahead in the Wild West of the investment world, once the sole domain of the super-rich. CalPERS will double its hedge fund investment to $2 billion, still a sliver of the $177.8 billion in assets held by the pension fund. "Our hedge fund program has been widely outperforming our U.S. index fund, with a quarter of the volatility," said Mark Anson, CalPERS' chief investment officer. "The program has been a success."...
  • KERRYMANDERING

    10/16/2004 9:05:00 PM PDT · by ejdouglas · 10 replies · 418+ views
    MY FATHER | 10/16/04 | EJDOUGLAS
    I'm wondering how Senator Kerry has thus far avoided having his flip-flopping, weasely, calculating, and morphing statements during this political campaign labelled "KERRYMANDERING". If this catches on credit my wise father in Atlanta. If Kerry's campaing had a mascot, it would be a weasel wearing flip-flops sitting on a fence near a hedge eating a waffle.
  • U.K. central bank sounds warning Central bank worries hedge funds

    06/28/2004 3:26:21 PM PDT · by take · 1 replies · 189+ views
    MarketWatch.com ^ | June 28, 2004 | Steve Goldstein
    U.K. central bank sounds warning Central bank worries hedge funds taking same strategies LONDON (CBS.MW) -- The Bank of England, one of the world's most closely watched central banks, and Man Group, the largest publicly traded manager of hedge funds, are located not even a mile away in London's financial district, but their views are a galaxy apart. Their varying viewpoints were reinforced Monday, when the Bank of England warned that hedge funds, such as those operated by Man (UK:EMG: news, chart, profile), are a threat to market stability, on the same day the fund manager said it had raised...
  • Watch the Hedgehogs (Hedge Funds)

    04/12/2004 3:36:20 AM PDT · by shrinkermd · 7 replies · 282+ views
    NY Times ^ | 12 April 2004 | WILLIAM SAFIRE
    In a future remake of "The Graduate," the phrase replacing "plastics" to be whispered in the ear of the title role is "hedge funds." That's where the action is. The number of such unregulated collections of capital has doubled in the last five years to 8,000. Managers make 20 percent of any profits, and if they bet wrong, simply close up the fund, distribute what's left and start a new one; the liquidation rate is about one-fourth every year. That's why so many of the hottest Wall Streeters are joining the stampede into managing these high-end mutual funds. Because hedge...
  • Car swallowed by hedge (Germany)

    09/23/2003 9:24:22 PM PDT · by martin_fierro · 147+ views
    Ananova ^ | Tuesday 23rd September 2003 | Ananova
    Car swallowed by hedge Police in Germany had to help a driver find his car after it was swallowed by a hedge. The man, who is 55, told police he had left his Mercedes parked near a filling station in Essen and had gone to buy cigarettes. When he returned, the £35,000 automatic car was gone. He suspected it had been stolen, but police decided it was worth searching the area. They eventually found the car a short distance away, in a thick hedge. It's believed the car rolled down a stretch of road through a hedge, smashed down a...