In a time when hedge funds face regulatory scrutiny and investor ire, David Tepper of Appaloosa Management is trying a softer customer-service policy. The New York Times reports that Mr. Tepper is allowing his clients an early exit from his Thoroughbred Fund. Why would a fund manager do this when it has practically become Read More
Back in October, Indiana University researchers determined that they could predict fluctuations in the Dow Jones Industrial Average with roughly 88 percent accuracy by looking at emotions expressed on popular nanoblogging site Twitter. Now, according to Bloomberg, a hedge fund called Derwent Capital Markets is putting actual money behind what we’ll call Twitter Read More
Dealbreaker’s Bess Levin, twisted genius of the financial blogosphere, sat down to play heads-up poker with Greenlight Capital’s David Einhorn in what is probably the most adventurous stopover on Mr. Einhorn’s promotional tour for the latest edition of his Fooling Some of the People All of the Time.
The result is an incredible Q&A Read More
Faced with redemption requests and, reportedly, an SEC investigation, mighty billionaire Phil Falcone has not yet run out of ways to raise capital. Bloomberg reports:
Falcone, 48, is selling stock and bonds through Harbinger Group (HRG), a publicly traded shell company. On Nov. 15, Harbinger Group raised $350 million by selling five-year debt Read More
Level Global now joins Diamondback Capital among hedge funds that got raided last week and this week says that it is the one the authorities are interested in.
Bloomberg reports:
The firm, with offices in New York and Greenwich, Connecticut, said in the letter it received a search warrant and subpoena last Read More
Diamondback Capital, one of the hedge funds approached by the FBI during last week’s Day of Hedge Fund Reckoning, has put one of its portfolio managers on leave after the government said the employee was the target of last week’s raid.
Bloomberg reports:
“The warrant appears to be focused on a single employee Read More
FrontPoint Partners, one of the most important hedge funds in the country, may not live to see another Thanksgiving. According to several news reports, its investors want to pull about $3 billion from the $7 billion hedge fund, whose Steve Eisman had one of the most famous epiphanies of the housing Read More
Diamondback Capital, one of the three hedge funds that the FBI raided Monday, towers above its peers in two categories: scrutiny by the authorities … and making lots of money.
Since its founding five years ago, the Connecticut fund has returned three times what similar hedge funds offer, according to an investor letter obtained Read More
Greg Lippmann, the 41-year-old trader famous for short-selling subprime mortgage securities and the subject of an extensive profile by The Observer‘s very own Max Abelson, is flipping the script on the trade that launched him to credit-crisis fame.
Lippmann left Deutsche Bank this year to start his own hedge fund, Libre Max. In October, Read More
There’s a cliche, or a saying, or something, that says that a lot of major business deals happen on the golf course. Perhaps some readers have heard their mothers tell them this “fact” in an effort to sell them on the practicality of repeatedly swinging a club at a tiny ball while wearing khakis.
Well, Read More
