The Guardian:
The disgraced Wall Street fund manager Bernard Madoff has shown a clear disregard for court orders and poses an immediate danger of economic harm to the community, according to US prosecutors who demanded his imprisonment today.Urging a Manhattan judge to revoke Madoff's bail, the federal authorities todaylisted the conten (Read More)
Reuters:
NEW YORK (Reuters) - A judge on Tuesday extended an order barring well-known hedge fund founder Ezra Merkin from withdrawing or liquidating millions of dollars in his funds, which invested with accused swindler Bernard Madoff.
. (Read More)
The Guardian:
Strength in mining stocks has set the FTSE 100 index on course for its sixth consecutive day of gains, while relief - and some desperate short-covering - has produced a rally among the retailers.The FTSE 100 index has added 77.81 points to 4657.45 points with Xstrata, up 72.5p at 865.5p and Rio Tinto, up 140p at £18.74 amid (Read More)
New York Times:
Investors in one of William Ackman's hedge funds may not be feeling the love for Target.
Pershing Square IV, which invests in Target, fell 68 percent last year, more than double the loss posted by U.S. discount chain, Bloomberg News reported. The fund run by the activist investor dropped 7.7 percent in December alone, [...]. (Read More)
New York Times:
JD Capital Management is liquidating a roughly $1 billion fund that suffered heavy losses recently, the hedge fund manager's founder said on Monday."We are unwinding the Tempo Master fund," J. David Rogers, a former Goldman Sachs executive, told Reuters. He told the news service that the fund, which has reportedly lost mor (Read More)
The Deal Blogs Home:
After helping Paulson & Co. (the hedge fund, not the guys running the Treasury) make a tidy $3 billion profit from the collapse of the U.S. real estate market in 2007, Paolo Pellegrini is leaving to start his own shop. ... (Read More)
New York Times:
Like many once-proud hedge-fund firms, Och-Ziff Capital ended 2008 on a humble note, with its assets under management declining by $5.5 billion. (Read More)
New York Times:
For the new year, James Simons is reportedly giving his investors a break - a $30 million break.According to The Wall Street Journal, a multibillion-dollar hedge fund run by Mr. Simons's Renaissance Technologies has waived all its management fees for 2009.Mr. Simons recently told investors in his year-old futures fund, Rena (Read More)