Keyword: hedgefunds

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  • PayPal’s Links to Palantir, a..Technology Used by Intelligence, Law Enforcement and Military

    11/30/2011 6:58:23 AM PST · by ShadowAce · 16 replies
    Cryptogon ^ | 27 November 2011 | Kevin Flaherty
    And guess where they’re located? That’s right: Facebook’s former building.I couldn’t make it up if I tried.Via: Bloomberg:An organization like the CIA or FBI can have thousands of different databases, each with its own quirks: financial records, DNA samples, sound samples, video clips, maps, floor plans, human intelligence reports from all over the world. Gluing all that into a coherent whole can take years. Even if that system comes together, it will struggle to handle different types of data—sales records on a spreadsheet, say, plus video surveillance images. What Palantir (pronounced Pal-an-TEER) does, says Avivah Litan, an analyst at Gartner...
  • SecState Kerry and his wife have millions invested in offshore tax haven hedge funds

    04/26/2016 10:47:58 AM PDT · by SeekAndFind · 7 replies
    American Thinker ^ | 04/26/2016 | Thomas Lifson
    Bernie Sanders loves to denounce the tax dodges of the wealthy (even as he pays 13.4% income tax on a $200K+ income), so it would be interesting to hear what he has to say about John Kerry, the current secretary of state and former Democratic Party nominee for president.  An analysis of public documents by the Daily Caller News Foundation indicates that Kerry and his wife liberally use offshore tax havens.  Richard Pollock writes: … a DCNF investigation has confirmed that the former Massachusetts Democratic senator and his billionaire wife, using an elaborate set of Heinz family trusts, have...
  • Organized crime: The 'looting' of $11 trillion from the U.S. economy

    03/06/2010 10:48:43 AM PST · by opentalk · 15 replies · 963+ views
    World Tribune ^ | March 5, 2010 | world tribune/ Cliff Kincaid
    The following is based on a report by Cliff Kincaid for Accuracy in Media. The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole. But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged...
  • NYT: Alan Grayson's hedge fund work interfered with congressional duties

    02/12/2016 11:05:01 AM PST · by Impala64ssa · 13 replies
    Orlando Weekly ^ | 2/12/16 | Monivette Cordeiro
    For the past year, media outlets like Politico and the Tampa Bay Times have raised questions about U.S. Rep. Alan Grayson, D-Orlando, and his management of a hedge fund, which spurned an investigation into the congressman by the House Committee on Ethics. Now, The New York Times is reporting the extent to which Grayson's two positions mingled: "The inquiry has become public, but emails and marketing documents obtained by The New York Times show the extent to which Mr. Grayson’s roles as a hedge fund manager and a member of Congress were intertwined, and how he promoted his international travels,...
  • CEO That Raised Drug Price 4,000 Percent Arrested

    12/17/2015 7:58:56 PM PST · by Tolerance Sucks Rocks · 50 replies
    Big Health Report ^ | December 17, 2015 | The Hill
    Martin Shkreli, who drew national scorn for hiking the cost of a life-saving drug 4,000 percent overnight, has been arrested, according to multiple reports early Thursday.The 32-year-old founder and CEO of Turing Pharmaceutical made headlines in September for raising the price of Daraprim, often used to treat HIV and AIDS patients, from $13.50 per pill to $750 per pill after buying the rights to the drug.His arrest is reportedly not related to that price increase.Shkreli is accused of illegally taking stock from a biotechnology firm he launched in 2011 called Retrophin Inc., Bloomberg reported, and using it to pay off...
  • Hedge Funds Pulled Short Oil Positions Just Before Rebound: Bloomberg

    01/26/2016 11:49:37 AM PST · by Citizen Zed · 4 replies
    barrons ^ | 1-25-2016 | Teresa Rivas
    Computer automated hedge fund strategies weren't the only winners amid recent volatility. Hedge funds also appear to have timed oil’s recent slump and rebound. That's according to Bloomberg's Moming Zhou, who reports  that hedge fund significantly curbed their bearish positions in crude oil just after it fell to a 12-year low last week -- and then rebounded in its biggest jump since 2008. While oil had a brutal start to 2016 after a disappointing 2015 showing, many are coming around to the idea of a recovery in prices, as Citi argued it could be the trade of the year, some...
  • George Soros Slams Donald Trump, Ted Cruz In New Article

    12/28/2015 11:42:22 AM PST · by 2ndDivisionVet · 49 replies
    Value Walk ^ | December 28, 2015 | Marie Cabural
    Billionaire George Soros, the Chairman of Soros Fund Management and founder of the Open Society Foundation, slammed the anti-Muslim rhetoric of Republican presidential candidates, Donald Trump, and Ted Cruz. In his essay (which is likely to make Trump even more popular with Putin), Soros emphasized that open societies are always endangered—the United States and Europe especially as a result of the recent terrorist attacks in Paris and elsewhere....
  • The 3 reasons so many hedge funds got wiped out in 2015

    12/24/2015 8:44:11 AM PST · by SeekAndFind · 8 replies
    Business Insider ^ | 12/24/2015 | Julia La Roche
    It has been an ugly year for the hedge fund industry. As a group, hedge funds have posted dismal returns. The average hedge fund is down 3.72% this year, according to Hedge Fund Research. The S&P 500, a commonly used benchmark to compare hedge fund performance, is down 2.59% this year. There have been numerous highly publicized hedge fund closings and redemptions in 2015. About 257 hedge funds closed in the third quarter, according to a report from Hedge Fund Research. That's up from 200 in the second quarter, which ended June 30. That took the total number of hedge...
  • Can We Blame Hedge Funds For Low Oil Prices?

    12/01/2015 8:35:25 AM PST · by bananaman22 · 15 replies
    Oilprice.com ^ | 01-12-2015 | Michael McDonald
    When oil prices were spiking in 2008 and some commentators were predicting prices of $200 a barrel, many pundits and politicians turned to blame speculators and hedge funds for pushing prices upwards. That period of high prices passed and speculators avoided any tough new regulations in part due to mix empirical evidence surrounding the causes of price volatility. Now though, the opposite case is being made; hedge funds shorting oil may be behind recent volatility and the current low price of oil. Given the benefits to consumers from low oil prices, there is little talk of new regulation to prevent...
  • Trump Plan Is Tax Cut for the Rich, Even Hedge Fund Managers

    09/28/2015 1:11:38 PM PDT · by SeekAndFind · 140 replies
    New York Times ^ | 09/28/2015 | Josh Barro
    Donald Trump’s tax plan, released Monday, does not live up to the populist language he has offered on taxes all summer. When talking about taxes in this campaign, Donald Trump has often sounded like a different kind of Republican. He says he will take on “the hedge fund guys” and their carried interest loophole. He thinks it’s “outrageous” how little tax some multimillionaires pay. But his plan calls for major tax cuts not just for the middle class but also for the richest Americans — even the dreaded hedge fund managers. And despite his campaign’s assurances that the plan is...
  • What Donald Trump Doesn’t Know about Hedge Funds: The reality and myths of taxing financial firms.

    09/22/2015 6:26:26 AM PDT · by SeekAndFind · 114 replies
    National Review ^ | 09/22/2015 | Kevin Williamson
    Donald Trump has promised that he will ease burdens on the middle class by going after “the hedge-fund guys,” who, he believes, do not pay enough in taxes. “They’re making a tremendous amount of money — they have to pay taxes,” he says. Because the one thing in which Trump is consistent is his vagueness, it is not 100 percent clear whether what he is talking about is the so-called carried-interest loophole, which is very much on the minds of people with economic-policy views similar to Trump’s — meaning Bernie Sanders and Hillary Rodham Clinton and other cookie-cutter progressives —...
  • About Those ‘Hedge-Fund Guys’

    09/22/2015 5:13:16 AM PDT · by reaganaut1 · 5 replies
    National Review ^ | September 22, 2015 | Kevin Williamson
    The reality and the myths of taxing financial firms. Donald Trump has promised that he will ease burdens on the middle class by going after “the hedge-fund guys,” who, he believes, do not pay enough in taxes. “They’re making a tremendous amount of money — they have to pay taxes,” he says. Because the one thing in which Trump is consistent is his vagueness, it is not 100 percent clear whether what he is talking about is the so-called carried-interest loophole, which is very much on the minds of people with economic-policy views similar to Trump’s — meaning Bernie Sanders...
  • Doctors Not Happy After Drug Goes From $13.50/Tablet To $750 Overnight

    09/21/2015 3:26:17 PM PDT · by SMGFan · 70 replies
    Consumerist ^ | September 21, 2015
    Gripe as we might, consumers understand that price increases do happen. What’s not as easily understood is how the price for something can go from $13.50 one day to $750 the next — especially when it’s a generic drug used to save lives. For decades, Daraprim (pyrimethamine), an anti-parasitic used to treat malaria and toxoplasmosis, had been made by GlaxoSmithKline and sold for as little as $1/tablet until not that long ago. Then in 2010 GSK sold the drug to CorePharma, which began to raise the price. Within a year, revenue from Daraprim jumped nearly ten times even though the...
  • Top Fundraiser for Scott Walker Meets With Trump - True to form Trump spins the facts

    08/24/2015 10:05:04 PM PDT · by Cincinatus' Wife · 77 replies
    News Max ^ | August 24, 2015 | Greg Richter
    A top fundraiser for Wisconsin Gov. Scott Walker's presidential campaign met with rival Donald Trump on Monday, The Wall Street Journal reports, but what happened in the meeting – and who requested it – is a matter of debate between the two parties. Anthony Scaramucci, Walker's national finance co-chairman, told the Journal that Trump tried to get him to defect to the Trump campaign, but Scaramucci told him that wasn't going to happen. "He wants to drop Walker and go with me," the Journal quoted Trump. "He wants to endorse me. He said, 'I want to drop Walker and endorse...
  • Panic Sets in Among Hardy Hedge Fund Investors Remaining in Greece

    07/05/2015 7:30:40 AM PDT · by Lorianne · 21 replies
    New York Times ^ | 28 June 2015 | Landon Thomas Jr.
    For investors around the world looking at Greece, there was but one question Sunday: What is going to happen when the markets open? On Sunday night, the prime minister, Alexis Tsipras, said in a televised address that Greece’s banks and stock market would be closed on Monday, as Athens tries to avert a financial collapse. But the question of what happens when the markets do open is particularly acute for the hedge fund investors — including luminaries like David Einhorn and John Paulson — who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds,...
  • How hedge-fund geniuses got beaten by monkeys — again

    06/26/2015 5:39:58 AM PDT · by SeekAndFind · 3 replies
    MarketWatch ^ | 06/25/2015 | Brett Arends
    The average hedge fund has produced a worse investment performance in the first half of this year than a portfolio consisting of a savings account at your local bank and a random collection of stocks picked by a blindfolded monkey. Stop me if you’ve heard this one before. According to the benchmark HFRX Global Hedge Fund Index, tracked by Hedge Fund Research Inc., the average hedge fund has earned its investors just 2.4% so far this year net of fees. By contrast, the average stock in the MSCI World index of the developed countries’ equity markets is up 7.7%. Hedge-fund...
  • Judge reopens FOIA case on Hillary Clinton aide Abedin (Huma)

    06/20/2015 8:23:41 AM PDT · by PROCON · 15 replies
    politico ^ | June 19, 2015 | JOSH GERSTEIN
    Reacting to the disclosure that Hillary Clinton exclusively used a private email account during her tenure as secretary of state, a federal judge agreed Friday to reopen a conservative group's Freedom of Information Act lawsuit seeking details about the employment arrangements of top Clinton aide Huma Abedin. However, U.S. District Court Judge Emmet Sullivan declined — for now — to address claims from Judicial Watch that Clinton's use of the private account and server led State Department officials to commit a fraud on the court by certifying they had turned over all responsive records.
  • 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...
  • U.S. political fundraiser gets 12 years for bank fraud

    07/16/2010 12:43:12 PM PDT · by nuconvert · 7 replies
    Hassan Nemazee, an Iranian-American businessman who raised money for the political campaigns of Barack Obama and Hillary Clinton, was sentenced to 12 years in prison for defrauding Bank of America Corp, Citigroup Inc and HSBC Holdings Plc out of $292 million. U.S. District Judge Sidney Stein imposed the sentence on Thursday following Nemazee's March 18 guilty plea in Manhattan federal court to charges of bank fraud and wire fraud over loan transactions with the three major banks. Nemazee said he needed the money to pay debts arising from his dealings in hedge funds and properties.
  • GM plans $5B stock buyback, averts showdown with hedge funds

    03/09/2015 8:47:14 AM PDT · by Olog-hai · 17 replies
    Associated Press ^ | Mar 9, 2015 11:28 AM EDT | Tom Krisher
    General Motors agreed to buy back $5 billion in stock by the end of next year as part of a plan to return more cash to shareholders. In return, an activist shareholder decided to drop a potentially divisive bid for a seat on the company’s board. The move, announced Monday, is part of a deal with Harry Wilson, a former member of the government task force that restructured GM coming out of its 2009 bankruptcy.Wilson, who represents four hedge funds which own about 2 percent of the company, had previously accused GM of hoarding cash to the detriment of shareholders...
  • Climate Change’s Bottom Line

    02/01/2015 6:08:36 AM PST · by Oldeconomybuyer · 42 replies
    New York Times ^ | January 31, 2015 | By BURT HELM
    It was 8 degrees in Minneapolis on a recent January day, and out on Interstate 394, snow whipped against the windshields of drivers on their morning commutes. But inside the offices of Cargill, the food conglomerate, Greg Page, the company’s executive chairman, felt compelled to talk about global warming. Mr. Page is a member of the Risky Business Project, an unusual collection of business and policy leaders determined to prepare American companies for climate change. It’s a prestigious club, counting a former senator, five former White House cabinet members, two former mayors and two billionaires in the group. The 10...
  • Hedge Fund Manager Who Survived Five Debt Crises Wiped Out Overnight on Swiss Franc (Ouch)

    01/18/2015 1:21:09 PM PST · by Kaslin · 24 replies
    Townhall.com ^ | January 18, 2015 | Mike Shedlock
    Someone asked me for a list of winners and losers and what the unexpected move by the Swiss National Bank meant in the long term for Switzerland. I will address that later today. First, consider one of the big losers who was wiped out overnight.
  • A Major Jewish University Is In Danger Of Going Broke Because Of How Much It Lost In Hedge Funds

    06/18/2014 9:35:40 AM PDT · by SeekAndFind · 14 replies
    Business Insider ^ | 06/18/2014 | Julia La Roche
    Credit-ratings agency Moody's thinks Yeshiva, a private Jewish university located in New York City, will be broke by next year. Yeshiva lost an estimated $105 million losses with convicted Ponzi schemer Bernie Madoff, who was also a trustee, but that's not why the university is running out of money. According to an extensive two-year investigation by TakePart's Steven Weiss and The Jewish Channel, the administration blew the school's financial future on bad hedge fund investments over the last decade. At one point before the 2008 financial crisis, the university became allocated 65% in hedge funds, which was the third-highest of...
  • Green billionaire prepares to attack 'anti-science' Republicans

    05/22/2014 10:32:38 AM PDT · by PaulCruz2016 · 29 replies
    CNN ^ | 05-22-2014 | Peter Hamby
    An environmental advocacy group backed by hedge fund tycoon Tom Steyer is set to unleash a seven-state, $100 million offensive against Republican "science deniers" this year, a no-holds-barred campaign-style push from the green billionaire that could help decide which party controls the Senate and key statehouses come November. The Steyer-backed outside group, NextGen Climate, has billed itself as a progressive, pro-environment counterbalance to the wealthy oil and gas industry -- as well as the primary foil to the pro-business Koch brothers and their well-funded conservative donor network. The outfit, launched last year by the San Francisco billionaire, has already pledged...
  • IRS audits less than 1 percent of big partnerships

    04/17/2014 6:06:25 PM PDT · by Olog-hai · 2 replies
    Associated Press ^ | Apr 17, 2014 6:24 PM EDT | Stephen Ohlemacher
    The Internal Revenue Service audits fewer than 1 percent of large business partnerships, according to a government report released Tuesday. That means some of Wall Street’s largest hedge funds and private equity firms are largely escaping close scrutiny by the IRS, said Sen. Carl Levin, D-Mich. The Government Accountability Office says the number of large businesses organized as partnerships has more than tripled since 2002, yet hardly any get audited. In 2012, only 0.8 percent were subjected to field exams in which agents do a thorough review of books and records. …
  • Hedge Funds Haven't Owned This Much Of The Stock Market Since Right Before The Crash In 2008

    06/08/2013 1:44:24 PM PDT · by blam · 3 replies
    TBI ^ | 6-8-2013 | Matthew Boesler
    Hedge Funds Haven't Owned This Much Of The Stock Market Since Right Before The Crash In 2008 Matthew Boesler June 8, 2013, 3:27 PM Two interesting stats on hedge fund exposure to the market via BofA Merrill Lynch analysts Stephen Suttmeier, Jue Xiong, and MacNeil Curry: 1.In the first quarter of 2013, net exposure (the difference between long and short positions in stocks) rose to match the previous peak (made in the second quarter of 2007). 2.The percentage of the stock market (specifically, the Russell 2000 float) owned by hedge funds is now the highest since the second quarter of...
  • Political intelligence firms set up investor meetings at White House

    05/27/2013 1:58:49 AM PDT · by Brad from Tennessee · 12 replies
    Washington Post ^ | May 26, 2013 | By TOM HAMBURGER
    Wall Street investors hungry for advance information on upcoming federal health-care decisions repeatedly held private discussions with Obama administration officials, including a top White House adviser helping to implement the Affordable Care Act. The private conversations show that the increasingly urgent race to acquire“political intelligence” goes beyond the communications with congressional staffers that have become the focus of heightened scrutiny in recent weeks. White House records show that Elizabeth Fowler, then a top ­health-policy adviser to President Obama, met with executives from half a dozen investment firms in 2011 and 2012. Among them was Kris Jenner, a stock picker with...
  • Todd Disses Santorum--But Fails To Ding Dunn On Hedge Fund Hypocrisy

    02/14/2012 1:15:07 PM PST · by governsleastgovernsbest · 5 replies
    NewsBusters ^ | Mark Finkelstein
    His show's called The Daily Rundown. And sure enough, Chuck Todd ran down Rick Santorum this morning as just another "flavor of the day" who "probably won't be the nominee." Apparently, trouncing Mitt Romney in three contests last week, and leading by a reportedly huge margin in Romney's native state of Michigan, isn't enough to impress Chuck. But Todd totally swerved around Anita Dunn, failing to question his guest about the story of her big-money hypocrisy making today's news. As Obama's White House communications director, Dunn regularly went after hedge funds. But now as a PR consultant, as the Washington...
  • Greens get billionaire ally, money (Tom Steyer)

    04/03/2013 8:18:27 AM PDT · by Darren McCarty · 18 replies
    The Hill ^ | 4-3-2013 | Alexandra Jaffe
    A California billionaire is pledging to spend as much of his fortune as necessary to make climate change “the defining issue of our generation.” Tom Steyer, who made his riches as a hedge fund manager, told The Hill on Tuesday that he wants to make climate change a campaign issue for years to come and Democratic support for environmental protections as widespread as support for gay marriage and immigration reform. “The goal here is not to win. The goal here is to destroy these people. We want a smashing victory,” Steyer said of candidates he judges to be on the...
  • New York Hedge Funds Are Annoyed That Cyprus Isn't Blowing Up Markets And Making Gold Surge

    03/20/2013 9:05:55 PM PDT · by blam · 23 replies
    TBI ^ | 3-20-2013 | Joe Weisenthal
    New York Hedge Funds Are Annoyed That Cyprus Isn't Blowing Up Markets And Making Gold Surge Joe WeisenthalMar. 20, 2013, 8:19 PMSo the Cyprus drama makes for a fascinating story. But as of yet, the crisis hasn't leaked into broader markets. Even Bernanke noted that today, during his press conference. And it seems that some are annoyed by the market resilience. SocGen's currency wizard Kit Juckes tweeted this evening: Kit Juckes Via email, we asked him to expand on what he meant. Basically, in his latest swing through New York City meeting with hedge fund clients, he talked with a...
  • DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'

    01/22/2013 10:47:32 AM PST · by blam · 54 replies
    TBI ^ | 1-22-2013 | Julia La Roche
    DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness' Julia La RocheJan. 22, 2013, 11:13 AMDavid Tepper, who runs $12 billion distressed debt hedge fund Appaloosa Management, was on Bloomberg TV "Market Makers" with Stephanie Ruhle moments ago. It was a tremendous interview and it showed a very relaxed and funny side of Tepper. Tepper, who has one of the best long-term track records, told Bloomberg TV that his fund was up 30% in 2012. He's said he's "going to come out of the closet" as being bullish in 2013. The reason, he explained, is there...
  • Goldman Sachs And The Big Hedge Funds Are Pushing Leverage To Ridiculous Extremes

    01/20/2013 5:43:44 AM PST · by SeekAndFind · 15 replies
    TEC ^ | 01/14/2013 | Michael Snyder
    Goldman Sachs And The Big Hedge Funds Are Pushing Leverage To Ridiculous Extremes By Michael, on January 14th, 2013 As stocks have risen in recent years, the big hedge funds and the "too big to fail" banks have used borrowed money to make absolutely enormous profits. But when you use debt to potentially multiply your profits, you also create the possibility that your losses will be multiplied if the markets turn against you. When the next stock market crash happens, and the gigantic pyramid of risk, debt and leverage on Wall Street comes tumbling down, will highly leveraged banks...
  • Hedge Fund Presents Massive, Bearish Outlook On The State Of US Markets

    01/03/2013 3:00:05 PM PST · by blam · 2 replies
    TBI ^ | 1-3-2013 | Lucas Kawa
    Hedge Fund Presents Massive, Bearish Outlook On The State Of US Markets Lucas KawaJan. 3, 2013, 2:51 PMMorgan Creek Capital Management, an investment management firm with offices around the world, released its 2013 market outlook, entitled "Peering Over the Precipice." The presentation was delivered at the North Carolina Bankers Association yesterday. The slideshow presentation focuses on the three big risks facing the market: the Euro crisis, possibility of a downturn in China, and fallout from the Fiscal Cliff. Of these three, the firm is most bearish on the U.S. economy -- to the point of predicting a recession starting in...
  • Smart Money? Hedge Funds Now Worse Than Mutual Funds

    11/24/2012 5:44:22 AM PST · by SeekAndFind
    CNBC ^ | 11/23/2012 | John Melloy
    Hedge fund managers don’t have much to be thankful for these holidays, as failure to beat low-fee index funds will likely infuriate investors shelling out hefty fees for their services. Just 13 percent of the so-called smartest money on the Street are outperforming the S&P 500, and a fifth of all hedge funds are actually in the red during 2012, according to Goldman Sachs data. To make matters worse, hedge fund managers have crowded into the same trades, with turnover at a record low, according to Goldman. Translation: Hedge fund investors are paying 2 percent fees up front and 20...
  • Obama raised most from private equity, hedge funds in 2008

    05/22/2012 7:59:16 AM PDT · by Sub-Driver · 3 replies
    Obama raised most from private equity, hedge funds in 2008 By Jonathan Easley - 05/22/12 09:52 AM ET President Obama raised far more cash from hedge fund and private equity donors than any other candidate in the 2008 election cycle. According to an analysis by the nonprofit group Open Secrets, Obama took in nearly $3.5 million from large private-equity donors that year — nearly twice what his general-election rival, Sen. John McCain (R-Ariz.), pocketed. The data bring into focus the thin line Obama must walk in attacking presumptive GOP presidential nominee Mitt Romney’s background in the industry, which has sparked...
  • Norway Sovereign Wealth Fund Purges All Insolvent Eurozone Debt Holdings, US Hedge Funds Buying

    05/04/2012 1:48:31 PM PDT · by SeekAndFind
    Zero Hedge ^ | 05/04/2012 | Tyler Durden
    Over the years, our friends at the Norway Sovereign Wealth Fund have gone from jeered to cheered. To wit from March 30: "Remember this from September 2010? "Norway, which has amassed the world’s second-biggest sovereign wealth fund, says Greece won’t default on its debts. “The point is, do you expect these guys to default?” said Harvinder Sian, senior fixed-income strategist at Royal Bank of Scotland Group Plc, in an interview. “Norway has taken the view that they will not. The Greek holdings are particularly interesting because the consensus in the market is that they will at some point restructure...
  • UBS hit by further $4bn write-down ($18bn for 2007)

    01/29/2008 11:41:08 PM PST · by TigerLikesRooster · 5 replies · 103+ views
    FT ^ | 01/30/08 | Haig Simonian
    UBS hit by further $4bn write-down By Haig Simonian in Zurich Published: January 30 2008 07:21 | Last updated: January 30 2008 07:21 UBS, one of the biggest casualties of the US subprime crisis, on Wednesday revealed a further $4bn in write downs on its portfolio of troubled mortgage-related securities. The surprise announcement, coming ahead of the Swiss bank’s annual results on February 14, means UBS will report a net group loss of about SFr4.4bn ($4bn) for 2007. UBS said the full-year loss, which it had signalled when disclosing initial fourth-quarter subprime writedowns of $10bn last month, stemmed from additional...
  • Not Again - Following Abysmal 2011, Only 10% Of Hedge Funds Are Outperforming The S&P In 2012

    02/23/2012 1:59:58 PM PST · by SeekAndFind
    Zero Hedge ^ | 02/23/2012 | Tyler Durden
    Too bad not every hedge fund can be long Apple (even if as Goldman points out, they sure are trying - "One out of five hedge funds has AAPL among its ten largest long positions" - a truly stunning observation and one which means that if Apple, which is priced to absolute perfection, has even one hiccup, we would see an absolutely epic bloodbath in the market). Because if 2011 was a horrible year for hedge funds which closed the year well below, or -10%, their respective benchmark - the S&P (unch for the year), the last thing hedge...
  • Understanding Carried Interest Is there a tax loophole that benefits fund managers?

    01/31/2012 7:08:39 AM PST · by C19fan · 2 replies
    National Review Online ^ | January 31, 2012 | Alan D. Viard
    Mitt Romney’s release of his tax returns has pushed the arcane issue of “carried interest” — the share of an investment fund’s profits given to its managers as payment for their services – back into the headlines. Critics have renewed their calls to tax the carried interest as ordinary income. Unfortunately, the populist rhetoric used by some critics can obscure the facts about how carried interest is actually taxed.
  • Al Gore, Sarah Palin and Dr. Robert Gates to speak at SkyBridge 2012 Hedge Fund SALT Conference

    01/11/2012 6:54:32 PM PST · by 2ndDivisionVet · 27 replies
    HedgeCo ^ | January 11, 2012 | Alex Akesson
    New York (HedgeCo.net) – $5.7 billion hedge fund firm, SkyBridge Capital, has announced that Vice President Al Gore, former Alaska Governor Sarah Palin and Secretary of Defense Dr. Robert M. Gates will serve as keynote speakers at the SkyBridge Alternatives (SALT 2012) Conference May 8 to 11, 2012, at the Bellagio Resort & Casino in Las Vegas. “We are very excited to draw off the success of past SALT conferences to bring together leaders who are keen to present fresh thinking and hard views that will impact decision-making for investors, managers and the broader financial sector,” said Victor Oviedo, partner...
  • Hedge Funds Braced for Worst Year Since 2008

    12/09/2011 12:29:44 AM PST · by TigerLikesRooster · 5 replies
    CNBC ^ | 12/08/11 | Sam Jones and Dan McCrum
    Hedge Funds Braced for Worst Year Since 2008 Published: Thursday, 8 Dec 2011 | 7:31 PM ET By: Sam Jones in London and Dan McCrum in New York Hedge funds are set to rack up their second-worst year in two decades after taking a beating from the eurozone crisis and an unexpected slowing in global economic growth. The average hedge fund manager has lost 4.37 percent in the year to the end of November, according to data just released by Hedge Fund Research — losing money in six of the past seven months. Only in 2008, following the collapse of...
  • MF Global and the great Wall St re-hypothecation scandal (Where the Money Went - Must Read)

    12/08/2011 10:49:36 AM PST · by mojito · 19 replies
    Reuters ^ | 12/7/2011 | Christopher Elias
    A legal loophole in international brokerage regulations means that few, if any, clients of MF Global are likely to get their money back. Although details of the drama are still unfolding, it appears that MF Global and some of its Wall Street counterparts have been actively and aggressively circumventing U.S. securities rules at the expense (quite literally) of their clients. MF Global's bankruptcy revelations concerning missing client money suggest that funds were not inadvertently misplaced or gobbled up in MF’s dying hours, but were instead appropriated as part of a mass Wall St manipulation of brokerage rules that allowed for...
  • Put NYC pension fund in minority hedge funds: official

    12/05/2011 8:25:49 AM PST · by reaganaut1 · 6 replies
    Reuters ^ | December 2, 2011 | Joan Gralla
    New York City, weighing how best to invest some of its $109 billion pension money in hedge funds, should hire so-called emerging managers, said Public Advocate Bill de Blasio. Emerging managers include women- and minority-owned hedge funds, which are fairly new and thus typically manage less money than older, more established rivals. Furthermore, women- or minority-owned hedge funds outperformed their much larger established peers over the last five years, according to a study by Barclays Capital released in June. "We'd be missing a big opportunity to grow the fund in a tough fiscal climate if we only add emerging managers...
  • Hedge Funds Pay Top Dollar for Washington Intelligence

    10/04/2011 8:23:38 AM PDT · by reaganaut1 · 7 replies · 1+ views
    Wall Street Journal ^ | OCTOBER 4, 2011 | BRODY MULLINS And SUSAN PULLIAM
    At a breakfast fund-raiser last year at the Liaison Capitol Hill hotel, former lobbyist Paul Equale pulled up a chair next to Sen. Richard Durbin. As they chatted, the Illinois Democrat told him about a recent breakthrough in his efforts to push through a bill to cap debit-card fees. At a breakfast fund-raiser last year at the Liaison Capitol Hill hotel, former lobbyist Paul Equale pulled up a chair next to Sen. Richard Durbin. As they chatted, the Illinois Democrat told him about a recent breakthrough in his efforts to push through a bill to cap debit-card fees. Some investment...
  • Shelton's Testimony: FCC Approved LightSquared is a significant problem for ALL GPS users

    09/17/2011 9:10:30 PM PDT · by dickmc · 70 replies
    Department of the Air Force (via GPS World) ^ | September 15, 2011 | General Shelton
    “GPS receivers were quite purposefully designed to operate in a portion of the radio frequency spectrum deliberately maintained as a “quiet neighborhood,” with neighboring frequencies primarily occupied by signals of comparable power levels, all based on widely accepted understanding of previous FCC rules and intent. The proposed LightSquared transmitters will produce received signal strengths five billion times stronger than the GPS received signal.” "Some have suggested GPS equipment can be redesigned for greater filtering to mitigate the interference, but even if this is possible, we believe it would involve substantial financial cost and likely degrade the accuracy of high performance...
  • The Soros Loophole

    08/11/2011 9:37:56 AM PDT · by opentalk · 14 replies
    Frontpage ^ | August 11, 2011 | Matthew Vadum
    It wasn’t that long ago that currency speculator George Soros was traveling the globe urging regulatory crackdown on the same financial sector that has allowed him to become a billionaire 14 times over. In late 2008 the preachy political radical who has given more than $8 billion to charities and left-wing causes lectured a congressional committee. “The entire regulatory framework needs to be reconsidered and hedge funds need to be regulated within that framework,” he pontificated.Soros got his wish, and the lawmakers his money helped to install in Congress dutifully approved the Dodd-Frank Wall Street Reform and Consumer Protection Act...
  • US Taxpayers Just Paid $780 Million To Fund The Latest Greece Bailout Tranche

    07/08/2011 7:38:49 PM PDT · by mojito · 38 replies
    ZeroHedge ^ | 7/8/2011 | Tyler Durden
    The IMF is delighted to announce that it just approved a €3.2 billion disbursement of cash for Greece, its fifth, as part of the €12 billion in money that Greece needs in order to continue operating in the months f July and August. And just for what purpose will this money be used, one may ask? Well, as explained a few weeks ago, in Greek Math: €12 Billion In, €18.2 Billion Out the entire amount will be promptly recycled by global financial institutions in the form of debt maturities and interest payments, which amount to €18.2 billion in the months...
  • Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies Into Survivalists

    05/19/2011 2:53:06 PM PDT · by blam · 6 replies · 1+ views
    The Observer ^ | 5-17-2011 | Foster Kamer
    Hedge Farm! The Doomsday Food Price Scenario Turning Hedgies Into Survivalists By Foster Kamer May 17, 2011 | 8:16 p.m 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...
  • The phenomenal success and insularity of South Asians flooding the American financial sector

    04/20/2011 11:51:11 PM PDT · by Bridge_toofar · 1 replies
    The Daily Beast ^ | April 21, 2010 | Gary Weiss
    The trial of hedge-fund billionaire Raj Rajaratnam has riveted the financial world and shined a light on the phenomenal success and insularity of the Indians, Pakistanis, Bengalis, and Sri Lankans flooding the American financial sector, writes Gary Weiss. Following every financial collapse, a cast of Wall Street bad guys invariably parades through the dock, from Depression-era thief Richard Whitney to junk-bond king Michael Milken to Ponzi schemer Bernie Madoff—media-saturated jaunts down the Via Dolorosa calculated to reassure the public that the financial markets are being policed, even though they’re not. This week, it’s the somber, bespectacled, self-made billionaire Raj Rajaratnam...
  • Running for the Exits. Hedge funds are dumping US Treasury bonds. Do they know something?

    03/22/2011 6:51:34 AM PDT · by SeekAndFind · 46 replies
    National Review ^ | 03/22/2011 | Jim Lacey
    The wisest and most successful bond investor of all time, Bill Gross, has dumped his bond fund’s $150 billion investment in U.S. bonds. One should not ignore the importance of this event. The largest bond fund in America no longer believes that Treasury bonds are a good investment. Moreover, Gross is not alone. Blackrock, the world’s largest money manager, is now underweighting Treasuries overall and reducing the duration of the bonds it still holds. That means they are dumping their long-term bonds, which are the most sensitive to interest-rate changes, in favor of Treasury instruments that mature in a year...