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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: hedge fund

hedge fund stories: 95 news summaries

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Living on the Edge in Connecticut

Will hedge-fund legend Victor Niederhoffer go broke again?

Oct 15, 07 7:00 AM CDT
(Newser) - Victor Niederhoffer is many things: a champion squash player, a family man (six children from two wives and a mistress), a blogger, and a math prodigy.  But mostly he is a trader. He amassed huge wealth working with George Soros in the 1980s, losing it all in 1997. He... More »

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stock market • University of Chicago • Connecticut • hedge fund • trading • equity trading • risk management • Harvard • Victor Niederhoffer • squash • Manchester Trading

Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

Biggest loser so far in subprime mess

Oct 1, 07 3:48 AM CDT
(Newser) - Switzerland's largest bank, UBS, has become the biggest casualty of the worldwide turmoil in the financial markets, reports the Wall Street Journal. The bank is expected to announced today that it has written off  $3.4 billion in fixed income assets. UBS is projecting third quarter losses of at least... More »

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Goldman Sachs • subprime mortgages • UBS • hedge fund • credit market • third quarter earnings • fixed assets • Peter Wuffli • Huw Jenkins

Windy City Finance Biz Lures New Yorkers

Hedge fund says prices, lifestyle win converts

Sep 23, 07 2:51 PM CDT
(Newser) - If a Chicago-based hedge fund goes public, can it relocate East Coast talent to the Windy City? Citadel Investment Group, which is signaling interest in an IPO, says many New Yorkers fall in love with the city. Yet some still give it the cold shoulder:  "A lot of... More »

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Chicago • New York • financial markets • Citadel • Chicago Mercantile Exchange • hedge fund • financial services

Subprime Crisis Sparks a Spate of Legal Battles

Investors, homeowners, banks head to court, but obstacles lie ahead

Sep 11, 07 11:24 AM CDT
(Newser) - The troubles plaguing Countrywide and Bear Stearns’ hedge funds will move from the boardroom to the courtroom. Homeowners and banks are suing mortgage lenders, shareholders are suing funds, the SEC is investigating executives, and Congress may conduct hearings into credit agencies' practices. The current mess ensnares “an incredible range... More »

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Wall Street • investors • subprime mortgages • Bear Stearns • lawsuit • hedge fund • Countrywide • Enron • Worldcom • homeowners

KKR Prepares for Test of Credit Markets

Fate of pending deals may foretell future
of private equity

Sep 11, 07 8:17 AM CDT
(Newser) - Kolhberg Kravis Roberts is pushing forward with some of the biggest deals in US history, but the iconic buyout firm finds itself under unprecedented scrutiny. Analysts say the huge deals KKR has pending will be a test of the struggling credit markets, the Washington Post reports: If they don't go... More »

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private equity • KKR • First Data • Henry Kravis • hedge fund • credit market

House Targets Hedge-Fund Tax Deferments

New bill would cut tax deferrals on overseas income for managers

Sep 7, 07 7:56 AM CDT
(Newser) - Democratic Rep. Rahm Emanuel said yesterday he will draft a bill to close a loophole that allows private-equity and hedge-fund managers to defer taxes on income earned by funds abroad. Emanuel proposes to limit such tax deferrals to $19,500—the amount anyone can put into a retirement account tax-free.... More »

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private equity • taxes • income tax • tax evasion • hedge fund • Rahm Emanuel

One Unrivaled Market Force: Vacation

Stocks calm down as bankers, investors bail for the beach

Aug 25, 07 6:19 AM CDT
(Newser) - The FT leads with a prediction that market volatility will decrease over the next week for a simple reason: everyone's going on vacation. Major decisions by banks, hedge funds and mortgage lenders will be on hold as the financial world bails New York, London and Frankfurt for the end of... More »

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loans • finance • bank • hedge fund • vacation • markets • credit crisis

Wall Street Bonuses To Sink

Market crisis hits paychecks

Aug 22, 07 12:31 AM CDT
(Newser) - The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first... More »

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private equity • Wall Street • Goldman Sachs • Bear Stearns • hedge fund • credit crisis • bonuses • Whitney Group • Options Group • Glocap Search • financial crisis

Reality Bites Wall Street Whiz Kids

Quant fund eggheads screwed up just as badly as everyone else

Aug 21, 07 4:48 PM CDT
(Newser) - The eggheads who run Wall Street's "quant funds," using complex algorithms to play the markets but neglecting the human element, screwed up as badly as everyone else during the Dow's recent dive. "They are very smart in front of a textbook but not smart enough to understand... More »

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Wall Street • Dow Jones • hedge fund • markets • quant funds • James Simons • quantitative equity funds

Romney Has Major Stake in Sinking Fund

Candidates in both parties could see big donations dry up

Aug 16, 07 7:23 PM CDT
(Newser) - Former Massachusetts  Governor Mitt Romney has a substantial investment in a teetering Goldman Sachs hedge fund that was propped up with a $3 billion cash infusion after it lost a third of its value. Romney, who won a symbolic victory in Iowa's GOP straw poll last weekend, is thought to... More »

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Mitt Romney • Iowa • Goldman Sachs • bank • hedge fund • straw poll • campaign contributions

Goldman Hedge Fund Gets
$3B Infusion

Investors fund bailout after assets evaporate; markets breathe

Aug 13, 07 11:38 AM CDT
(Newser) - A struggling Goldman Sachs hedge fund will get a $3 billion cash infusion, with a third of the bail-out coming from wealthy investors and the rest from the bank itself. Global Equity Opportunities Fund has seen assets drop by 28%, to $3.6 billion, over the last two weeks, as... More »

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Eli Broad • Goldman Sachs • subprime mortgages • hedge fund • Hank Greenberg • financial crisis

Dow Tumbles Over 380 Points

Year's second-worst loss falls on heels of solvency fears

Aug 9, 07 4:47 PM CDT
(Newser) - The Dow Jones lost nearly 3% of its value today, tumbling 387.18 points to 13,270.68 in the second-worst drumming of the calendar year. Trading curbs were in place early, after BNP Paribas froze funds that took a bath in the US credit market and Chinese exchanges crashed... More »

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private equity • housing market • Dow Jones • subprime mortgages • hedge fund • stock exchange • BNP Paribas • S&P 500

Bear Stearns Takes Refuge
in Caribbean

Bankrupt hedge funds ticketed for liquidation in friendly Caymans

Aug 7, 07 8:13 PM CDT
(Newser) - Bear Stearns, faced with the implosion of two hedge funds worth more than $1 billion, has decided to liquidate them in the Cayman Islands—a move that will give creditors and investors less access to their money.  Bloomberg forecasts a court battle over the tactic, which an analyst said... More »

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bankruptcy • subprime mortgages • Bear Stearns • hedge fund • Caribbean • Cayman Islands

Mortgage Crisis Hits Affluent Buyers, Too

Even borrowers with excellent credit
are now facing higher rates

Aug 7, 07 5:48 AM CDT
(Newser) - Mortgage tremors have rippled so far across the home loan market that even buyers of high-priced homes with good credit records are now being squeezed, the Wall Street Journal reports. Rates have surged on loans above $417,000 for prime borrowers—to 7.34% for a 30-year fixed-rate mortgage, up... More »

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real estate • subprime mortgages • Bear Stearns • mortgage • loans • hedge fund • houses • home loans • Fannie Mae • borrowers

Bear Stearns Axes Prez Over Fund Fiasco

Subprime woes reach executive suite after hedge funds implode

Aug 6, 07 5:09 AM CDT
(Newser) - Bear Stearns has fired its No. 2 and once-likely successor as CEO in the wake of  the collapse of two company hedge funds worth more than $1B, reports the Wall Street Journal. Warren Spector, the most high-profile casualty to date in the subprime-mortage crisis rocking Wall Street, is a mortgage... More »

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housing market • subprime mortgages • Bear Stearns • hedge fund • houses • investment • Warren Spector • James Cayne

Battered Bear Tries to Act Bullish

Wall Street's anxieties force Bear Stearns to make major changes

Aug 4, 07 2:06 PM CDT
(Newser) - The securities firm Bear Stearns will oust its stocks and bonds trading chief, the WSJ reports, and soften its emphasis on short-term trades. The extraordinary moves come in the wake of Friday's market sell-off, partly triggered by investor concern about Bear Stearns after the collapse of two of its mortgage-bond... More »

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Wall Street • housing market • subprime mortgages • Bear Stearns • loans • hedge fund • Lehman Brothers • bonds • corporate credit • Warren Spector

(Newser) - Wall Street is dizzy after mixed signals threw traders into buy mode despite an abundance of bearish indicators today, making for one of the most volatile days in weeks. The Dow finished up 150.38 points at 13362.37, even after Asian markets plummeted across the board last night, a... More »

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Wall Street • Asia • subprime mortgages • Bausch and Lomb • Bear Stearns • hedge fund • trading • markets • Nikkei • Hang Seng • Beazer

Subprime Woes Rock  Another Bear Stearns Fund

Withdrawals blocked, rumors swirl as market slips further

Aug 1, 07 5:40 AM CDT
(Newser) - Bear Stearns has blocked withdrawals from a mortgage investment fund amid Wall Street jitters over the crisis in high-risk subprime mortgages, the Wall Street Journal reports. Two Bear Stearns hedge funds heavily invested in subprime mortgages collapsed in June, and now another fund, which has only a tiny fraction of... More »

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subprime mortgages • Bear Stearns • mortgage • hedge fund • investment • American Home Mortgage

Schumer Bucks Party on Wall
St. Tax Hikes

Leading Dem torn between monied
base, middle class

Jul 30, 07 3:07 PM CDT
(Newser) - Rejecting populist piety, Chuck Schumer is opposing legislation that would double tax rates for private equity and hedge fund executives, arguing that he’s torn over the measures but contending that they unfairly target an industry critical to his constituency. The New York Times reports the senator, the only Democrat... More »

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Congress • private equity • Charles Schumer • taxes • legislation • hedge fund • Charles Grassley • senator

Funds Can't Find Friends in Anti-Tax Fight

As Senate starts tax hearings, masters of the universe find they're short on pals

Jul 11, 07 9:01 AM CDT
(Newser) - Wall Street's hedge-fund and private-equity titans are looking for allies in their fight to prevent a tax hike on profits—but they're having trouble recruiting, today's Journal reports. As the first Senate hearings on the proposed hikes get under way, representatives from venture capital, public pension funds, and investment firms... More »

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Congress • private equity • income tax • Senate • pensions • REITs • hedge fund • carried interest • capital gains tax • venture capital

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