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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: hedge fund

hedge fund stories: 95 news summaries

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SEC Under Fire for Flubbing Madoff Warnings

Judge liquidates confessed fraudster's investment firm

Dec 16, 08 10:09 AM CST
(Newser) - The SEC is coming under fire for failing to spot what may be the biggest securities fraud in history, the Washington Post reports. The regulator received repeated warnings from 1999 onwards that Bernard Madoff's investment fund was fishy, but failed to conduct even a routine examination until Madoff blew the... More »

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SEC • hedge fund • Ponzi scheme • auditor • securities fraud • defrauding investors • Bernard Madoff

 Red Flags Didn't Stop 
 Colossal Madoff Fraud 

Steady returns, tiny auditors prompted questions

Dec 13, 08 10:58 AM CST
(Newser) - Bernard Madoff's investment operation—found this week to be a massive Ponzi scheme that lost as much as $50 billion—raised plenty of red flags over the last decade, the Wall Street Journal reports. As far back as 1999, Madoff’s steady returns in wide-ranging markets seemed unrealistic to some... More »

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Wall Street • SEC • hedge fund • Ponzi scheme • auditor • securities fraud • defrauding investors • Bernard Madoff

Big Names Bilked in $50B
Madoff Fraud

Swindler was money manager of choice in elite circles

Dec 13, 08 5:59 AM CST
(Newser) - Some of America's wealthiest people are finding themselves a lot poorer in the wake of the Bernard Madoff fund scandal, the Wall Street Journal reports. Madoff strived to become known as the investor of choice in elite circles, and counted New York Mets owner Fred Wilpon and GMAC chairman Ezra... More »

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Wall Street • fraud • hedge fund • Ponzi scheme • defrauding investors • Bernard Madoff

 Silda Joins Hedge Fund, 
 Eliot Mulls Book 

Silda joins hedge fund; Eliot may write book

Nov 24, 08 8:14 AM CST
(Newser) - Silda Wall Spitzer, liberated from the constraints of being a politician's wife, has gone to work for a Manhattan hedge fund, New York magazine reports. A former corporate attorney, Silda will be recruiting investors for Metropolitan Capital Advisors, run by the wife of a long-time Spitzer friend and supporter. Meanwhile,... More »

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hedge fund • Eliot Spitzer • book • political scandal • Silda Wall Spitzer • op-ed

analysis

 Why Midafternoon 
 Brings Out the Bears 

Wall Street is facing one of its worst bear markets since World War II

Oct 16, 08 12:50 PM CDT
(Newser) - An increasingly familiar Wall Street phenomenon—a three-digit swing in the Dow, usually down, in the final hour of trading—is a direct result of population growth in one species: bears. Margin calls are forcing panicked sell-offs, it's true, but the situation is more complicated than that, experts tell... More »

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stock market • Wall Street • Ken Griffin • Dow Jones • UBS • hedge fund • bear market • Citadel Investment Group • financial crisis

ANALYSIS

Hedge Funds in Panic on Volatility, Short-Selling Ban

Fear is main force handcuffing risk-taking investors

Sep 22, 08 11:44 AM CDT
(Newser) - Hedge funds have been caught flatfooted as the stock market’s volatility and a ban on short selling has made it more difficult to predict swings, the New York Times reports. Many funds, which generally have flourished amid market turbulence, are reporting their worst year ever, fueling speculation that some... More »

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Wall Street • hedge fund • Lehman Brothers • short selling • bailout

Tough Times Ground
Hedge Fund High-Fliers

Specialized investment industry dragged back to earth by shaky market

Sep 12, 08 12:41 PM CDT
(Newser) - The recent market turmoil has taken a good deal of the shine off of hedge funds, as managers are unable to reproduce their heretofore exemplary results in poor market conditions, the New York Times reports. The average hedge fund lost 4% this year, the worst overall results in the industry’... More »

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finance • hedge fund • investment • credit market • endowment • pension funds • investment banks • hedge funds

Even Hedge Funds Start to Feel the Crunch

Market-beaters may have reversed upward trend with ugly July

Aug 4, 08 1:30 PM CDT
(Newser) - Hedge funds, usually known for beating the wider market, are taking a hit in the general financial slump, the Wall Street Journal reports. Though they're still outperforming the market for the year, early data suggest that trend might have reversed last month: One study of 60 funds shows them off... More »

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energy prices • hedge fund • emerging markets

ANALYSIS

Demonizing Shorters Won't Save the Likes of Lehman

Darwinian market bloodletting may eliminate raider targets

Jul 19, 08 9:34 AM CDT
(Newser) - Short-sellers have the power to utterly crush Lehman Brothers, as they did Bear Stearns, writes James Cramer in New York, but it's largely Lehman's own fault. Lehman shares much of the "mismanagement, arrogance and recklessness" that brought down Bear, Cramer opines in a piece that says excoriating short-selling hedge... More »

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Bear Stearns • SEC • financial markets • hedge fund • Lehman Brothers • short selling • financial crisis

Israel to Judge:
I Did Attempt
Suicide 

Painless or not,
hedge-fund scammer couldn't off himself

Jul 3, 08 11:24 AM CDT
(AP) - A hedge-fund cheat who faked his death to try to dodge a 20-year prison sentence has told a judge that he did actually try to commit suicide this week. Samuel Israel appeared in Manhattan federal court today for a new charge that could get him an extra 10 years. More »

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suicide • fraud • hedge fund • fugitive • Samuel Israel • Bayou Group

Fugitive Hedge- Fund Swindler in Feds' Custody

After faking his own death, Samuel Israel turns himself in

Jul 2, 08 11:02 AM CDT
(AP) - It's official: Samuel Israel definitely isn't dead. The fugitive hedge-fund swindler turned himself in today, federal authorities say. Israel disappeared last month on the day he was supposed to report to federal prison. His car was found parked near a bridge over the Hudson River, with the words "suicide... More »

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suicide • hedge fund • fugitive • Samuel Israel • Bayou Group

Girlfriend of Fugitive Fund Chief Charged

Police say she helped him fake his own suicide and escape

Jun 19, 08 6:21 PM CDT
(AP) - The girlfriend of a hedge fund swindler whose car was found abandoned in New York has been charged with helping him elude his sentence. Police arrested Debra Ryan today and accused her of aiding and abetting the escape of Samuel Israel III, who bilked investors out of $450 million. He... More »

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hedge fund • fugitive • Samuel Israel • Bayou Group

Email May Toast Arrested Bear Fund Managers

Pair faces charges
of misleading investors in $1.6B collapse

Jun 19, 08 10:16 AM CDT
(Newser) - A pair of former Bear Stearns hedge-fund managers arrested today on federal fraud charges could be done in by an email in which one described their market position as "toast"—days before telling investors it was "quite comfortable." Matthew Tannin and Ralph Cioffi will be indicted... More »

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Bear Stearns • hedge fund • indictment • wire fraud • securities fraud • financial crisis

Industry Shakeout
Clips Hedge Funds

It's a fund-eat-fund world as companies mature, face crunch

Jun 17, 08 3:22 AM CDT
(Newser) - A massive shakeout is transforming the world of hedge funds, the Wall Street Journal reports. Tougher market conditions mean smaller funds are merging or closing their doors, and new ones are facing difficulty getting started. The business, which mushroomed from a few hundred firms to 8,000 over a decade,... More »

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asset management • capital • financial markets • hedge fund • investment • capital markets

analysis

 Many Retirees
 Will Have
 Less Than
 They Think 

Economist compares direct-benefit to direct-contribution plans

Jun 16, 08 5:21 PM CDT
(Newser) - Many employees will enter retirement with a much smaller income than they expect, the Economist reports. By 2014, the amount of money saved in direct-contribution retirement plans—ie 401Ks—will outpace than the amount saved in old-fashioned direct-benefit plans. But workers set contributions to their DC schemes at lower levels... More »

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pensions • retirement • income • hedge fund • investment • employers • pension funds

 Citi Pulls Plug
 on Hedge Fund
 CEO Founded 

Lackluster returns and management defections seal fate of Vikram's Old Lane

Jun 12, 08 9:47 AM CDT
(Newser) - Citigroup will close Old Lane Partners, a hedge fund co-founded by CEO Vikram Pandit, after months of lackluster returns and the loss of its top managers, the Wall Street Journal reports. The investment bank bought the fund’s management group for $800 million less than a year ago; Citi will... More »

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Citigroup • hedge fund • credit crisis • Vikram Pandit • writedowns • Old Lane

With No Body, Cops Doubt NY Banker's Suicide

'He's dead as far as I can throw him,' skeptic says of fraudster

Jun 11, 08 11:31 AM CDT
(Newser) - An international manhunt is now under way for a former hedge-fund manager who disappeared the day he was to begin serving a prison sentence for defrauding investors. A car belonging to Samuel Israel III was found Monday at a bridge over New York's Hudson River, the Wall Street Journal reports;... More »

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suicide • fraud • hedge fund • investment bankers • Samuel Israel • Bayou Group

Hedge Fund Fraud Missing; Suicide Possible

Car on NY bridge belonged to exec due yesterday in prison

Jun 10, 08 2:23 PM CDT
(Newser) - Police aren't ruling out suicide as a New York hedge-fund manager due to begin serving a 20-year prison term yesterday remains missing, the Wall Street Journal reports. Police found Samuel Israel's car parked near a bridge over the Hudson, with “Suicide is painless” written in dust on the hood. More »

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suicide • fraud • hedge fund • white collar crime • Samuel Israel • Bayou Group • defrauding investors

Buffett Bets
Big Against Hedge Funds

Market will beat the pros, legendary investor wagers

Jun 10, 08 12:16 PM CDT
(Newser) - Warren Buffett has a lot of money to put where his mouth is. The Oracle of Omaha has bet $320,000 that the market, as measured by the S&P 500, will beat a collection of five carefully selected hedge funds, reports CNNMoney. Taking him on is Protégé Partners,... More »

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stock market • Warren Buffett • hedge fund • S&P 500

CBS Shells Out $1.8B
to Buy CNET

Network gives shareholders huge premium

May 15, 08 8:33 AM CDT
(Newser) - CBS has agreed to buy CNET for $1.8 billion, the Wall Street Journal reports. The merger comes just as CNET was facing a full-scale shareholder revolt. Now, those investors are getting $11.50 a share, a price the stock hasn’t touched in two years and a 45%... More »

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Internet • CBS • investors • mergers and acquisitions • Leslie Moonves • hedge fund • CNET

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