hedge fund

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Debut of New Goldman Hedge Fund May Break Record at $10B

Firm spawns first in-house private fund

(Newser) - Goldman Sachs will launch a new stock hedge fund next month with as much as $10 billion, making it the biggest hedge fund debut in industry history, Bloomberg reports, and Goldman's first in-house fund of its kind. The fund, Goldman Sachs Investment Partners, will be run by two Goldman department...

Death Airs Hedge-Fund Excesses
Death Airs Hedge-Fund Excesses
Dec 5, 2007 3:00 PM CST

Death Airs Hedge-Fund Excesses

Drowning unleashes rumors of coke binges, male strippers and murder

(Newser) - The legal wrangling that has followed the September death of hedge fund manager Seth Tobias in his Florida swimming pool is sensational enough, the New York Times reports—his wife says he drowned; Tobias' brothers accuse his wife of murder—but details of the high living bankrolled by high finance...

Small Hedge Fund Scores 1,000% Return

Shorting subprime securities may be most profitable bet of all time

(Newser) - A small Californian hedge fund bet against subprime-linked securities and earned its investors a cool 1,000% profit this year, making Lahde Capital one of the world's best-performing funds of all times, the Financial Times reports. In all, hedge funds that shorted subprime loans appear to have made the single...

Hedge Funds Bounce Back
Hedge Funds Bounce Back
Nov 19, 2007 2:01 PM CST

Hedge Funds Bounce Back

After summer retreats, stock pickers get back on their game

(Newser) - Despite the uncertain economic climate, hedge funds are rebounding after a rough summer. The mercurial atmosphere is actually helping stock pickers play the markets, the Journal reports. The smart ones predicted the mortgage crunch and are making out well from oil and currencies. "The good managers are taking advantage...

House Passes Alternative Minimum Tax Bill

But bill is unlikely to make it through the Senate unchanged

(Newser) - The House passed a sweeping tax-reform bill yesterday—shifting some $78 billion in taxes from middle-class families to the super-rich—that is expected to get little traction in the Senate and has already drawn the promise of a presidential veto. The bill would exempt middle-income families from the Alternative Minimum...

Looming Tax Bill to Test Dem Loyalties

Bill to help middle class hurts their hedge-fund backers

(Newser) - A bill to give tax breaks to middle- and low-income people by closing loopholes that keep equity executives’ tax rates low is set for a vote this week in Congress, the Washington Post reports, forcing Democrats to choose between standing up for the common man and protecting the hedge-fund managers...

Merrill Hedging Prompts Inquiry
Merrill Hedging Prompts Inquiry
Nov 2, 2007 7:55 AM CDT

Merrill Hedging Prompts Inquiry

SEC seeks info on delayed mortgage reckoning

(Newser) - Merrill Lynch, still reeling from an $8.4 billion write-down on mortgage-related losses last month, has been making deals with hedge funds that may have been calculated to keep further losses out of investors' view, the Wall Street Journal reports. The move has attracted the attention of the SEC, which...

Rangel Pushes Corporate Tax-Rate Cut

Tax-rate trim from 35% to 31% would be offset by eliminating tax breaks

(Newser) - Rep. Charles Rangel, the Democratic chairman of the House Ways and Means Committee, has proposed a revised corporate tax structure that could lower corporate income taxes from 35% to between 30% and 31%. It would be offset by doing away with tax breaks for manufacturing in the US. The bill...

Can 1987's Black Monday Happen Again?

Not likely, but credit crunch proves we can invent new screw-ups

(Newser) - Twenty years ago, Black Monday—now, the credit crunch. Haven’t we learned a thing? Yes and no, says MSNBC: Today, "circuit breakers" make a 1987-style sell-off unlikely by cutting off trading at certain limits. And new, tighter mortgage standards will keep credit under control. But greed and fear...

Living on the Edge in Connecticut
Living on the Edge in Connecticut
Oct 15, 2007 7:00 AM CDT

Living on the Edge in Connecticut

Will hedge-fund legend Victor Niederhoffer go broke again?

(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...

Swiss Bank Giant Posts Huge Losses Amid Credit Crisis

Biggest loser so far in subprime mess

(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...

Windy City Finance Biz Lures New Yorkers

Hedge fund says prices, lifestyle win converts

(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...

Subprime Crisis Sparks a Spate of Legal Battles

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

(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...

KKR Prepares for Test of Credit Markets

Fate of pending deals may foretell future of private equity

(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...

House Targets Hedge-Fund Tax Deferments

New bill would cut tax deferrals on overseas income for managers

(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....

One Unrivaled Market Force: Vacation

Stocks calm down as bankers, investors bail for the beach

(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...

Wall Street Bonuses To Sink
Wall Street Bonuses To Sink
Aug 22, 2007 12:31 AM CDT

Wall Street Bonuses To Sink

Market crisis hits paychecks

(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...

Reality Bites Wall Street Whiz Kids
Reality Bites Wall Street Whiz Kids
Aug 21, 2007 4:48 PM CDT

Reality Bites Wall Street Whiz Kids

Quant fund eggheads screwed up just as badly as everyone else

(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...

Romney Has Major Stake in Sinking Fund

Candidates in both parties could see big donations dry up

(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...

Goldman Hedge Fund Gets $3B Infusion
Goldman Hedge Fund Gets
$3B Infusion
Aug 13, 2007 11:38 AM CDT

Goldman Hedge Fund Gets $3B Infusion

Investors fund bailout after assets evaporate; markets breathe

(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...

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