Monday, 29 December 2014
Last updated 27 min ago
Mar 31 2010 | 2:42am ET
Emotional gamblers are almost always terrible gamblers. It is a maxim that one new hedge fund hopes will take it all the way.
Centaur Corporate will launch a new hedge fund investing in an odd asset class, if it can even be so called: sports betting. The firm’s new Galileo Fund won’t be buying shares in sports books or online betting exchanges, but will actually gamble on them.
Galileo is counting on its fellow “in-running” gamblers—those betting on events already in progress—to be too emotional to bet wisely, offering it a chance to get better odds.
“It’s more an entertainment for them,” Tony Woodhams, managing director at London-based Centaur, told the Financial Times. “This provides a great opportunity for a clinically-minded group.”
The new fund will bet on soccer, racing and tennis on online exchanges, according to the newspaper. It will be regulated in Gibraltar and be open only to experienced investors.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.