Elsewhere on Friday,
- Investing fads and themes by year, 1996 to present.
- Unintended consequences on Wall Street.
- Chart of the day: How the old gold bugs lost control.
- Analyst date night:
Billionaire hedge fund manager John Paulson is launching a new gold fund from Jan 1 that will include $250m of his own personal investment, reports the WSJ. The fund will focus on shares of gold miners and other bullion-related investments,
By way of a resuscitated campaign to have Ben Stein sacked from his various writing and promotion jobs, Felix Salmon at Reuters discusses a story about US consumers being deceived by dodgy online sign-up pitches and leads us to this: the relevant full blown staff report for Senate commerce committee chairman Jay Rockefeller.
Elsewhere on Wednesday,
- The madness of the inflation hawks.
- IPOs are back.
- Adam Smith in 10 minutes.
- Can options spikes be a coincidence?
- Faber on gold, and just about everything else.
The aim of this document is to show the real life application of the ‘Style Analysis’ feature applied to a hedge fund claiming delivering alphas. We will show how to analyze a fund in terms of its alpha and sector selection skills.
Elsewhere on Monday and the weekend,
- A field guide to wild and woolly financial conspiracies.
- A forensic reconstruction of Goldman’s 2008 prop trading.
- World out of balance.
- China is now the biggest risk to the international economy.
It might appear small change compared with the billions lost through Bernard Madoff’s $65bn Ponzi fraud but the scheme’s victims are at least set for a small piece of payback. Nearly 200 items belonging to Madoff and his wife Ruth were auctioned in New York on Saturday by the US government,
There was a time that the annual Goldman Sachs gathering for Asia-focused hedge funds was one of the star attractions in a travelling hedgie’s calendar — second only to CLSA’s glittering annual Tokyo conference (known for its big-name speakers,
Elsewhere on Friday,
- Forbes’ 67 most powerful people.
- The EU should stay out of hedgies’ pockets.
- Faber on gold.
- New crisis ahead? Five things to watch.
- Clear ‘rules of the game’ for free market capitalism.
Clive Capital, the world’s largest commodity hedge fund, is shutting its doors to new investors just two years after its launch as raw materials enjoy fresh demand. The London-based fund, which trades commodities ranging from oil to metals and meats,
Herein in full is “annex II” - the last minute principles to heavily regulate European hedge fund managers’ pay appended to the European Union’s draft Alternative Investment Fund Manager directive in the past 48 hours by the Swedish presidency of the EU council.
The results of the latest MSCI reshuffle are out and they are already having an impact on stock prices.
As was widely rumoured, Ladbrokes has been removed from the MSCI World index, along with upmarket housebuilder Berkeley.
With the European Commission’s crackdown on the “alternative asset management” industry looming, London’s hedge funds managers have been increasingly threatening to take their offices elsewhere.
Now,
The growing share of Cadbury held by hedge funds betting that Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner is increasing the likelihood that Kraft’s hostile bid will succeed, say brokers.
BlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid concerns about London’s status as a centre for alternative asset managers. Founded in 2000 by former JPMorgan traders Bill Reeves and Mike Platt,
The former head of Optimal, the Geneva-based hedge fund investment arm of Spanish bank Santander, has been charged with criminal mismanagement of client funds placed with fraudulent US broker Bernard Madoff.
The post-Madoff campaign by US regulators and federal prosecutors to portray themselves as tough on (white collar) crime was dealt a blow on Tuesday, when a jury cleared two former Bear Stearns hedge fund managers of all the charges against them.
Here’s your latest asset-liability worry: Hedge funds.
Finance blog Sober Look has an interesting post on the subject which uses a chart from Hedgebay, a provider of a secondary market for investors’ stakes in hedge funds:
Elsewhere on Wednesday,
- If we were friends with John Paulson…
- Muni bonds: Buyer beware, really.
- The romance with stimulus isn’t just a fling.
- Your big chance to balance the US budget.
Paulson & Co, the New York hedge fund run by John Paulson, has disclosed a 2.08% stake in Cadbury following Kraft’s £9.8bn ($16.4bn) hostile bid this week, signalling growing hedge fund interest in the UK confectionery group following Kraft’s hostile bid.
Two former Bear Stearns hedge fund managers accused of misleading investors were found innocent of all charges on Tuesday, marking a blow to the first big effort by US prosecutors to bring a criminal case related to the subprime mortgage crisis.
Those accused of white collar crimes in recent months - including but not limited to the man formerly known as Sir Allen Stanford and one Raj Rajaratnam - probably breathed a sigh of relief on Tuesday,
Helmut Kiener, founder of the K1 hedge fund group, claims Barclays and other investors have started “a witch hunt” against him to deflect attention from their own mistakes. In a written appeal for Kiener’s release from investigative custody,
The following snaps flashed up on Reuters on Friday:
RTRS-U.S. SEC ENFORCEMENT CHIEF KHUZAMI SAYS SEEING SIGNIFICANT EXPANSION AS TO WHERE GALLEON/HEDGE FUND PROBE IS LEADING
16:48 06Nov09 RTRS-KHUZAMI SAYS SOME HEDGE FUND BUSINESS MODELS,
US prosecutors on Thursday intensified their crackdown on Wall Street insider trading, revealing criminal charges against 14 people which are related to the case last month against Raj Rajaratnam, founder of the Galleon hedge fund,
Redemptions from institutional investors have continued to drain capital from Man Group, the world’s largest listed hedge fund manager, over the past seven months. However, the group’s first-half results showed outflows from institutions were partially offset by surging investment from Asia and the Middle East.
Some 21 individuals and firms are now facing — or have faced — court action stemming out of the investigation into an alleged $20m insider trading ring.
Here’s the re-re-revised complaint from the SEC with details on the sprawling investigation. Get yourself a coffee or something - it’s 50 pages long.
The complaint documents associated with the latest swoop on those allegedly dealing inside make it abundantly clear the FBI has made very extensive use of co-operating witnesses.
In particular, there is bound to be speculation on the identity of someone referred to as “CS-1,”
In the aftermath of the a fresh series of arrests against individuals allegedly involved in a $20m insider trading ring, the SEC released details of an amended complaint on Thursday.
Those featured in the complaint are a motley crew of hedgies,
Early in New York on Thursday morning, CNBC reported that seven people had been arrested in what was described only as “an ongoing insider trading case related to hedge funds.”
It has since become clear that the arrests are linked to the allegations against Raj Rajaratnam and the Galleon hedge fund.
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