Tuesday, 21 October 2014
Last updated 14 min ago
Jan 26 2010 | 11:53am ET
A top Democratic leader on Capitol Hill is defending President Barack Obama’s plan to bar banks from participating in alternative investments while stressing the need to coordinate regulation internationally.
Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, shot back at Republican critics who say the president’s plan would imperil the U.S. financial services industry.
“I believe this is wrong,” Frank said in announcing he would attend this week’s World Economic Forum in Davos, Switzerland. “Combined with our coordination efforts with the European Union, United Kingdom, Japan, Canada and other major economic powers, I am confident we can create a situation in which we can impose appropriate tough regulation, without fear of loss of business to, or a destabilizing effect from, nations that will not join us.”
So far, there are none of those. The U.K. government has explicitly ruled out banning banks from owning, investing in or sponsoring hedge funds or private equity funds, although the opposition Conservative Party—widely tipped to win this year’s British elections—have expressed support for Obama’s plan. Nor is the European Union likely to go along with it, a source close to the situation told Reuters.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...