Category Archives: hedge funds

How did the big investment banks’ flagship hedge funds do in 2007? Highbridge Capital, which is controlled by JP Morgan, ended in positive territory for the year (+6%), despite going through a nasty patch this summer. The Global Alpha fund … Continue reading →

As we learned from the WSJ last month, “assets under management” is not the most useful of metrics to use when judging the size of a hedge fund. For example, bond fund Y2K said it had assets under management of … Continue reading →

On December 3, Roddy Boyd reported that Ralph Cioffi wanted to leave Bear Stearns, but that the bank didn’t want him to leave. Well, it looks like he got his wish. Cioffi left Bear last week, albeit not in the … Continue reading →

Do you know what Stevie Cohen looks like? Time had an official photo of him in its "Time 100" feature earlier this year. He looks well-groomed, with a clear, level gaze. But today the NYT runs a picture of him … Continue reading →

The Harvard Management Company, under the interim leadership of Robert Kaplan, is looking for a permanent replacement for the departing Mohamed El-Erian. In the meantime, it’s taking a 12.5% stake in Gávea, the hedge fund run by former Soros fund … Continue reading →

To the pantheon including subprime shorter John Paulson and Amaranth vanquisher John Arnold we should probably now add Santa Monica hedge fund manager Andrew Lahde. Lahde almost certainly hasn’t reached the billion-dollar-a-year club, but he does now officially oversee a … Continue reading →

The problem with airline mergers is not that people think they’re a bad idea. Not at all: pretty much every airline-industry executive in America thinks that consolidation in the industry is inevitable and a great idea in theory. But the … Continue reading →

In the wake of the MIT Techonology Review’s two–part story on the summer quant-fund blow-up, there’s a fascinating and high-level debate going on in the blogosphere about whether this marks the End of the Quant Era. Veryan Allen says it … Continue reading →

There are a few real characters in finance, and Victor Niederhoffer is one of the most compelling. An inveterate and compulsive speculator, he does fabulously well until he blows up – again and again and again. John Cassidy started profiling … Continue reading →

Michelle Leder points out that the Fahey Fund’s web design leaves something to be desired, and might have tipped off investors to the sketchiness of the operation. She might have added that the email address for the fund manager was … Continue reading →

So here’s the weird thing about that Citigroup survey of pension-fund managers. Apparently the notorious 2-and-20 fee structure is doomed, even though the fund managers are going to increase their allocation to alternative investments: Almost 60% of managers surveyed indicated … Continue reading →

Now this is what is known as a sell signal: We are actively working to adjust our process to minimize the negative impact of future market dislocations and position the fund for positive returns going forward. Now there’s an idea! … Continue reading →

Rick Bookstaber thinks that bailouts – some bailouts, anyway –
can be a
jolly good idea. If Citadel can bail out troubled companies and make money
at it, why can’t the government do so as well?
Continue reading →

Yves Smith of Naked Capitalism submits: The UK’s Times Online, citing Hedge Fund Research (HFR), reports that hedge fund strategies of all sorts took a beating in August: Of the 20 daily hedge fund indices tracked by HFR, only one … Continue reading →