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- New Year's Resolution: Get Out Of Hedge Funds
- The hedge fund industry is bracing for a massive "end-of-the-year" sale as jittery investors opt to stash their cash in safer places. Hedge fund redemptions are expected to accelerate in December as many clients have already given the 30-day notice many hedgies require before exiting. ...
- Blog posts 2008-12-03
Additional Resources
- Hedge Fund Redemptions Might Push Market to Support Levels
- David Enke submits: According to a recent WSJ article, in the wake of the recent Madoff and Stanford scandals, hedge fund investors have been requesting their money back at an increased pace over the last few months. Morgan Stanley analysts are forecasting that assets under management could fall by...
- External links 2009-03-02
- Hedge Fund Deleveraging Likely to Continue
- David Enke submits: Banks are continuing to ask for more collateral to back past hedge fund lending, causing more funds to liquidate their positions see WSJ article. When added with investor redemption, bank-induced liquidation is forcing hedge funds to step-up their deleveraging. Such selling is continuing to put pressure...
- External links 2008-10-19
- Citigroup Report: Hedge Fund Assets Could Fall to $1 Trillion
- David Enke submits: Just about every day we get a new prediction / forecast of where the hedge fund industry is headed. Now Citigroup C is reporting that total hedge fund assets may fall to around $1 trillion by the middle of next year see Bloomberg article. This figure...
- External links 2008-11-18
- Hedge Funds: Investors Mixed on Liquidity Requirements
- Brighton House Associates, LLC submits: Over the past year we have been gauging investors’ demand for better liquidity terms among managers. One would assume that the effects of this economic recession along with many investors’ inability to gain access to their invested capital would lead to a very...
- External links 2009-10-01
- How Many Hedge Funds Have Valuation Processes?
- Susan M. Mangiero submits: Business Valuation Resources and Pension Governance, LLC just completed a joint survey on business valuation firms that currently provide valuation services to hedge fund clients. It appears that relatively few hedge funds are reaching out to the business valuation profession, despite regulatory and legal pressures to improve valuation...
- External links 2008-09-10
- Goldman Sachs Political Capital Ratio Is Inadequate
- Wall Street Weather submits: The stock market suddenly turned bullish on Monday after Meredith Whitney upped Goldman Sachs GS from “Neutral” to “Buy” with a twelve month price target of $186. Appearing on CNBC’s Squawk Box, the normally bearish financial analyst said the recommendation was “a bearish call but...
- External links 2009-07-15
- Q2 Report: Hedge Fund Investors Express Bias Towards Smaller Funds
- Brighton House Associates, LLC submits: The tremendous level of redemption requests seen during the last quarter of 2008 and the first quarter of 2009 began to slow in the second quarter, and investors were, once again, gaining confidence in alternative asset classes as a way to diversify their portfolios....
- External links 2009-08-07
- Stress Tests are Geithner's Redemption
- Treasury Secretary Tim Geithner is the happiest guy in the world today. He's gone from tax cheating incompetent to boy wonder financial genius whose stress tests have restored order to the global financial system. By one measure, the stress tests have met their goal: they have restored...
- Blog posts 2009-05-07
- Cerberus to bar withdrawals from two funds
- Cerberus, the investment group, is barring investors in two new hedge funds from withdrawing money for three years in an effort to avoid a repeat of the large outflows that followed its lossmaking purchases of Chrysler and GMAC, the group's executives said. The move to introduce a three-year "lock-up" is...
- News items 2009-09-02
- Galleon Surrenders Ship Even as Its Funds Surge
- By Joseph A. Giannone NEW YORK (Reuters) - The Galleon Group, caught up in the largest-ever hedge fund insider-trading scandal, is liquidating its funds even as investors enjoy one of the firm's best years. On Friday U.S. authorities arrested Galleon founder Raj Rajaratnam, New Castle Partners' Mark Kurland and four...
- News items 2009-10-21
- Farallon Announces Large Energy Partners Stake
- Market Folly submits: Wednesday after market close, Thomas Steyer's hedge fund Farallon Capital filed a 13G on Energy Partners EPL. In it, Farallon disclosed a 12.3% ownership stake with 4,903,423 shares. The filing was made due to activity on September 21st, 2009 and this is a brand new position for...
- External links 2009-10-01
- Bear Stearns case: Not so simple
- NEW YORK Fortune -- In yesterday's opening statements in the criminal case against two Bear Stearns hedge-fund managers, Brooklyn federal prosecutors followed all the pundits' advice and did what the Enron prosecutors had done so successfully before them: They kept it simple. Yet simplifying what is intrinsically complex has its...
- News items 2009-10-15
- Will 2 and 20 Soon Be Gone?
- Susan M. Mangiero submits: Wall Street Journal reporters describe a trend that some believe was once only urban legend, namely hedge fund managers cutting their fees. In "Hedge Funds' Capital Idea: Fee Cuts" (September 9, 2008), Jenny Strasburg and Craig Karmin describe a new balance of power in which investors...
- External links 2008-09-09
- Galleon moving assets into cash
- Brokers to the Galleon Group – the hedge fund whose founder and president, Raj Rajaratnam, is at the centre of insider trading charges – report it is rapidly liquidating its investments in anticipation of a wave of investor redemptions. "They're selling down their positions and moving to cash – they've...
- News items 2009-10-20
- Jana Partners Discloses Immucor Stake
- Market Folly submits: In a recent 13G filed with the SEC, hedge fund Jana Partners has disclosed a 5.5% ownership stake in Immucor BLUD. Jana now owns 3,865,413 shares and this is a brand new position for it, as it previously did not hold it as of March 31st, 2009...
- External links 2009-06-11
- Con of the Century
- Bernard Madoff worked as a lifeguard to earn enough money to start his own securities firm. Almost half a century later, the colossal Ponzi scheme into which it mutated has proved impossible to keep afloat — unlike Mr. Madoff's 55-foot fishing boat, "Bull." The $17.1 billion that Mr. Madoff claimed...
- News items 2009-08-07
- AllianceBernstein Holding LP Q3 2008 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator instructions Your first question comes from William Katz. William Katz – Buckingham Research Group Yes, thank you and good afternoon. I think my first questions is probably on everyone’s mind, just trying to think about trying to quantify maybe the potential cost reductions in light...
- Earnings calls 2008-10-27
- Reading Up on William Ackman
- Nadav Manham submits: Bloomberg has an article on William Ackman. Read it here. Ackman fascinates me. No other hedge fund manager challenges the skills of the manager selector more than he does. He's smart and well-pedigreed and very philanthropic, a hedge fund celebrity, extremely persuasive in both...
- External links 2009-04-16
- Investors: Don't Borrow Money to Buy Stocks
- Chad Brand submits: Much of the recent market decline has been due to forced sellers like hedge fund and mutual fund managers that have had no choice but to sell stocks they own due to redemption notices from their panicked investors. In many cases, forced selling has also taken...
- External links 2008-10-14
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