Euromoney (March Issue)
”The currency war that many feared as an inevitable accompaniment to the credit crisis played out as more of a paint-ball contest until the recent sharp slide of the yen. The violence of the yen fall of roughly 20% reawakened fears of a wave of competitive devaluations.” While many fear the negative repercussions, for investment banks and hedge funds, the revival of FX uncertainty holds out the hope of a recovery in their moribund currency-trading revenues.”
Institutional Investor (August 14)
“Hedge funds are increasingly in a fighting mood. Although overall activism is roughly at the same level as last year, the number of proxy fights initiated by hedge funds is on the rise.” In 2011, hedge funds engaged in 46 proxy fights. In the first 7 months of 2012, they have already been involved in 42 proxy fights, with a higher percentage ending in success.
New York Times (July 4)New York Times (July 4)
The exact role of a director remains something subject to debate. “At Fortune 500 companies last year, the median compensation for a director was $212,512. Other boards pay less but are apparently also less demanding; in the Caymans, one person is a director of about 260 hedge funds.”The exact role of a director remains something subject to debate. “At Fortune 500 companies last year, the median compensation for a director was $212,512. Other boards pay less but are apparently also less demanding; in the Caymans, one person is a director of about 260 hedge funds.”
Tags: Compensation, Directors, Fortune 500, Hedge funds
Washington Post (May 12)
Hedge fund billionaire Raj Rajaratnam, who headed Galleon Management, was convicted of fraud and conspiracy in connection with insider-trading. “The verdict is a historic achievement for the Justice Department.” The government was able “to show the jury a dark side of the hedge-fund business that was long suspected.” Evidence included recorded wire taps of Rajaratnam receiving and forwarding tips. Alleged tipsters in this high profile trial included Rajat Gupta, the ex-head of consulting firm McKinsey & Co and a former Goldman Sachs board member.
Hedge fund billionaire Raj Rajaratnam, who headed Galleon Management, was convicted of fraud and conspiracy in connection with insider-trading. “The verdict is a historic achievement for the Justice Department.” The government was able “to show the jury a dark side of the hedge-fund business that was long suspected.” Evidence included recorded wire taps of Rajaratnam receiving and forwarding tips. Alleged tipsters in this high profile trial included Rajat Gupta, the ex-head of consulting firm McKinsey & Co and a former Goldman Sachs board member.
New York Times (February 16)
Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”
Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”
Tags: Fraud, Hedge funds, JPMorgan Chase, Madoff
The Economist (May 20, 2010)
Despite a massive $950 billion rescue plan, investors “remain nervous” about the euro. More worryingly, European leaders remain confused. Major changes are necessary to save the euro: “How sad that most euro-zone governments still do not seem to get it; how pathetic that they cover their ignorance by blaming hedge-fund managers in London.”
Despite a massive $950 billion rescue plan, investors “remain nervous” about the euro. More worryingly, European leaders remain confused. Major changes are necessary to save the euro: “How sad that most euro-zone governments still do not seem to get it; how pathetic that they cover their ignorance by blaming hedge-fund managers in London.”
Tags: euro, Hedge funds, Investors
