Hedge Fund SAC Indictment- Whats Next in the Case Against SAC. The indictment of hedge fund SAC Capital Advisors and three of its internal hedge fund companies on Thursday. Steve Cohen, 57, purchased a 4% stake in the Mets last year after team owners paid $162 million to settle claims they willfully ignored the […]
E-mail, Phone Records Reveal Steve Cohen Engaged in Hedge Fund SAC Employees’ Behavior. Billionaire hedge fund manager Steve Cohen defenders argued that the unusual structure of his firm, SAC Capital Advisors, shielded him from any illegal trading by his employees in recent years of trials. Steve Cohen, they said, sat atop decentralized operation in […]
“I believe this will go to a proxy fight and I believe I can win,” he said. “Dell has done a really poor job (but) the board has done an awful job. You know I don’t blame Dell as much as I do the board.”
“They’re giving the damn thing away,” he added. “If you are an institution, why would you want this guy still running the company?”
Paulson & Co Former Executive Paolo Pellegrini Testifies About Hedge Fund’s Bet Against Subprime Mortgages. In testimony Wednesday, Paolo Pellegrini, the former hedge fund Paulson & Co managing director, said he made clear to ACA Capital Holdings Inc that Paulson wanted to bet against the deal. Former Goldman Sachs bond trader Tourre has been […]
Hedge funds can finally use media and internet to solicit and advertise their servicies it’s not all good publicity for the buy side. Bloomberg businessweek came down hard on hedge fund industry displaying hedge funds for suckers and critisizing the industry. The artice Hedge funds for suckers article via Businessweek. I2008 group of famous […]
SEC Lifts 80 Year Old Ban for Hedge Fund to Advertise. Hedge funds and other companies seeking private investments will be allowed to advertise publicly for funding under a rule approved on Wednesday by the U.S. Securities and Exchange Commission. The rule, which passed by a 4-1 vote, is the first one mandated by […]
SEC trying to turn financial crisis poster boy into sacrificial lamb Next week, Fabrice Tourre goes on trial for securities fraud. Tourre, now 34, is the former Goldman Sachs investment banker who, in 2007, packaged and peddled a synthetic portfolio of sub-prime residential mortgage-backed securities (RMBS) that collapsed within nine months of its […]
Scandalous Hedge Fund SAC Founder Steve Cohen Is Not Likely to Face Charges. Hedge fund SAC billionaire founder Steve Cohen isn’t likely to face criminal charges tied to the biggest alleged insider-trading case in history as U.S. prosecutors conclude there’s not enough evidence to meet a statute of limitations deadline to file a case. […]
The UK’s Finacial Conduct Authority FCA Has Ramped Up Scrunity of the Hedge Fund Industry.
FCA – and the Bank of England’s Prudential Regulation Authority scrutiny of the hedge fund industry and in a growing sign of its reach is also paying more attention to the activities of US hedge funds with operations in the UK.
Hedge Fund Titan Eddie Lampert ESL Redemptions. Hedge fund honcho Eddie Lampert used $393 million of shares in AutoNation Inc. (AN) to meet client redemptions from his main hedge fund, whose investment in Sears Holdings Corp. (SHLD) has led to volatile returns. Lampert’s ESL Partners LP on June 10 distributed 9.09 million AutoNation shares, […]
Hedge Fund Rivals Try to Feast on SAC Redemptions. (Reuters) – A long list of rival hedge funds is eager to tap the billions in outside money that Steven A. Cohen’s SAC Capital Advisors is expected to return to investors by year-end. Large hedge fund firms structured like SAC, where Cohen allocates capital to […]
Hedge Funds Effected By SAC Redemptions Boris Onefater, who runs hedge fund due diligence and advisory firm Constellation Investment Consulting, said some managers use sub-advisers to bolster areas of trading where a firm is either weak or looking to supplement. He said it is too soon to predict what SAC Capital will do, noting […]
Absolute Return magazine just published an interview with a Christian minister by the name of Jeff Grant who runs a not-for-profit program called the Progressive Prison Project in Greenwich, Connecticut. Since 2008, Grant has been counseling hedge fund managers accused of insider trading on how to cope with life in a federal penitentiary. A corporate lawyer […]
Hedge Fund News Weekly Reacap – Hedge fund deals, billionaire managers and investing news of week of May 27th to June 2nd.
Hedge Fund Managers Generate Billions of Returns in Record Start to Year
Hedge fund managers including Chris Hohn, Crispin Odey and Dan Loeb have each generated double-digit returns since the beginning of 2013 according to the The Telegraph reports.
Bullish bets in the U.S. options market on Smithfield Foods Inc., placed before a takeover bid by a Chinese company, has raised concerns that the news may have reached some investors ahead of time. Smithfield shares jumped 29.6 percent to $33.64 after China’s Shuanghui International agreed on Wednesday [May 29] to buy the world’s […]
Institutional Investor’s Alpha 2013 Hedge Fund 100 is online now. As large funds achieve greater heft, portfolio managers grapple with a critical question: Is more capital a boom or bane? This year’s list managed some $1.3 trillion at the beginning of 2013. To put it in context, the Hedge Fund 100’s total assets represent […]
JPMorgan re-ignites the corporate governance controversy Some saw the issue as silly, others as a turning point in US corporate governance. Should Jamie Dimon give up his Chairmanship of JPMorgan? For concededly good reasons, America’s best-known banker lost some of his luster this past year on both Wall Street and Capitol Hill thanks to the “London Whale” and […]
The high-profile arrest of former BlackRock manager Mark Lyttleton risks damaging the reputation of the industry, financial intermediaries have warned. Mr Lyttleton and his homeopathist wife Delphine are understood to be the couple arrested on April 30 in connection with an investigation into insider dealing and market abuse. Neither has been charged and BlackRock […]
Hedge Fund SAC founder Steve Cohen subpoenaed and has considered shutting down SAC. After five years under investigation for insider trading, Steven Cohen is considering proposing a deal to prosecutors that would shut his $15 billion hedge-fund firm to outside investors, according to a person familiar with his thinking. Cohen has discussed an agreement under which his […]
We have been following the JOBS Act and hedge fund advertising all year and from the looks of it, things are getting going to get more exciting. A commissioner on the Securities and Exchange Commission on Monday said she supports allowing hedge funds to publicly advertise, but she also raised concerns about how a […]
Insider Trading Steps Closer to Strict Liability
SEC Sues Investment Banker Richard Bruce Moore Who Just Put 2&2 Together.
In 2010, Richard Bruce Moore, an investment banker at Canadian Imperial Bank of Commerce (“CIBC”), counted the Canadian Pension Plan Investment Board (the “Pension Board”) among his best clients. Through Moore’s efforts, the Pension Board regularly used CIBC to finance its private equity investments.
Hedge funds 13-F reports with the U.S. Securities and Exchange Commission, shedding some light on how they traded in U.S. stocks in the first quarter.
Chase Coleman’s $12 billion Tiger Global Management sold 790,000 Apple shares in the quarter, while Cliff Asness’s $80 billion AQR Capital Management sold about 150,000 shares.
PMS products, which are meant for the rich, cannot accept investments of less than Rs 25 lakh per investor Equity schemes for rich seek to become hedge funds. Various Portfolio management service (PMS) providers are looking to register their tailor-made equity products under a category of the recently-introduced Alternative Investment Funds (AIF) segment that […]
Woah! Power-playboy titan Dan Loeb looks to have his way with Sony…… In one of his most famous corporate spats, Loeb successfully ousted Yahoo’s former chief executive and poached Marissa Mayer from Google to run the internet company. The Japanese electronics and entertainment giant, is facing an audacious breakup attempt in a battle that […]