Tuesday, 23 September 2014
Last updated 1 hour ago
Feb 27 2007 | 2:28pm ET
In what is becoming a weekly missive to his shareholders, the head of a closed-end fund fighting a proxy battle with hedge fund brawler Philip Goldstein pleaded with investors not to “let Goldstein and his hedge fund colleagues destroy your company so he can make a quick profit and then move on to his next target.”
Thomas O’Brien, president of the RMR Hospitality and Real Estate Fund, warned of dire consequences should Goldstein and his Saddle Brook, N.J.-based fund Bulldog Investors succeed. Preferred shareholders, O’Brien intones, will “lose the right to continue investing in the weekly rollovers,” and common shareholders are warned that Goldstein’s promise to pay a premium to current market price is predicated on “terms he knows can’t be satisfied.”
And, in a concession to those who like it short and sweet, O’Brien gave the all-caps, bold and underlined treatment to, “If Goldstein wins, you lose.”
Newton, Mass.-based RMR’s annual meeting is set for March 8.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.