Tuesday, 21 October 2014
Last updated 2 hours ago
Apr 21 2010 | 2:28am ET
JPMorgan Chase—the world’s largest hedge fund manager—has drawn up plans to sell Highbridge Capital Management in the event that new restrictions on banks owning hedge funds becomes law.
The New York-based firm is lobbying hard against the so-called “Volcker rule,” which would bar bank holding companies like JPMorgan from owning, investing in or sponsoring hedge funds and private equity funds. The rule, named for former Federal Reserve Chairman Paul Volcker, has been championed by President Barack Obama as a centerpiece of his financial regulation overhaul.
But the firm doesn't want to be caught unawares should Congress, which is to begin debating the reform this week, ignore its pleas. And so it has drawn up a contingency plan to sell off Highbridge, which manages about half of its $50 billion in hedge fund assets, Fox Business reports.
JPMorgan also has plans to sell its $15 billion private equity unit if it has to.
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 ...