Sunday, 23 November 2014
Last updated 1 day ago
May 13 2010 | 3:24am ET
Britain’s richest hedge fund manager has some harsh words for the European Union and its proposed hedge fund regulations, as well as some kind words for his native land.
Moore Capital Management founder Louis Bacon blasted the “demonization” of hedge funds in Europe, assailing the 27-nation bloc’s leaders for adopting “a stance of ‘first kill all the canaries in the mineshaft’” rather than “listening to the market’s warnings.”
“European financial authorities see hedge funds particularly as a threat to their ability to contain prices, information and confidence in the increasingly risky sovereign debt markets,” Bacon wrote to investors in a letter obtained by Financial News. That’s leading to “confusing and discordant” approaches to the hedge fund issue between the U.S. and EU.
But while Bacon has little but scorn for the latter, he offered plaudits to his home country.
“The U.S. financial authorities are respectful of the many Cassandras in the hedge fund world that decried the lending bubble practices developed through the last decade,” he wrote. “They’d like to hear those voices and co-opt their insights and intelligence that was so lacking in the regulatory, supervisory and legislative circles.”
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...