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.
By Kelly Bit It sounds like the mother of all spreadsheets: 1 million rows, 1 million columns - 1 trillion entries in all. Fortunately, Braxton McKee isn't using Excel. Instead, he's tapping into the cloud to crunch all that market data on the cheap with software he built that learns as it goes. The cost of that cosmic power: $10. Welcome to the brave new world of cheap-and-cheerful artificial intelligence. McKee, 35, is part of a wave of math and computer whizzes that's pushing data science to new heights across Wall Street.
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.)
Starting this quarter, Intel has changed its reporting structure to include a new segment called "Client Computing Group." It's simply a combination of its PC Client Group and Mobile and Communications Group – two groups that reported separately up until last quarter.
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.
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 (