BOSTON/NEW YORK (Reuters) - As federal prosecutors circle Steven A. Cohen's $15 billion hedge fund in a long-running insider trading probe, one financial adviser in Texas is so devoted to the billionaire investor that he may give him more money.
Market Folly submits:(This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund filings.)
May 25 (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc , the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
I see many pundits on CNBC commenting on Apple. I believe they are ALL wrong! To begin with, nearly all of them are coming up with revaluations after the fact - which is simply too late and lacks credibility. Second, Apple has someserious steps to take if it is to get back into the mobile computing race.
I see many pundits on CNBC commenting on Apple. I believe they are ALL wrong! To begin with, nearly all of them are coming up with revaluations after the fact - which is simply too late and lacks credibility.
NEW YORK — Peter Madoff will serve 10 years in prison for his role in his older brother’s multibillion-dollar Ponzi scheme, a U.S. judge said on Thursday.
Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, Bernard Madoff.
I am deeply ashamed of my conduct. I accept full responsibility for my actions
Market Folly submits:Bill Ackman's hedge fund firm, Pershing Square Capital Management, returned 15% gross and 12.2% net for the month of November, and has returned 35.5% gross and 27% net for 2010. Fantastic numbers, no? Given the somewhat outlandish results in one month, it's not necessarily a surprise that skeptics have emerged. It's perfectly acceptable to be skeptical/suspicious/curious given the cloud of secrecy that largely surrounds the hedge fund industry.
FINalternatives submits: The little black rain cloud of hedge fund indices has come to rain on your St. Patrick’s Day parade. The Lipper Hedge Fund Composite Index fell 0.29% in February; most hedge fund indices showed hedge funds bouncing back last month after a losing January. All of Lipper’s subindinces save one were in the red in February, with only managed futures funds managing a positive show (0.26%) in the industry’s most pessimistic benchmark.
Market Folly submits:Conatus Capital hedge fund manager David Stemerman revealed some interesting facts about Conatus' portfolio in his fourth quarter commentary. For 2009, Conatus finished the fourth quarter up 2.86% and the year up 19.16%. You can see how the fund stacked up against other prominent hedge funds in our 2009 performance numbers post.
Trader Mark submits:We've touched on cloud computing in a few posts over the last year or so (invested in a few related names along the way), and Barron's had a good sized feature piece in the past month on the subject, although I think their choices of "winners" for the trend was a bit too "one size fits all." (In my mind's eye, only a few companies such as Salesforce.com (