Tuesday, 21 October 2014
Last updated 3 hours ago
Jul 21 2010 | 11:59am ET
A federal judge has given her approval to Goldman Sachs’ $550 million settlement of charges it misled investors in a collateralized debt obligation allegedly structured and marketed on behalf of hedge fund Paulson & Co.
U.S. District Judge Barbara Jones in New York gave her final approval to the Securities and Exchange Commission settlement announced last week. Goldman did not admit or deny any wrongdoing, but did acknowledge that the CDO’s marketing material “contained incomplete information.”
The information that the SEC said was lacking was that Paulson had played a role in selecting the securities that went into the CDO, called ABACUS-2007-AC1, and that the hedge fund planned to short the CDO through credit default swaps it bought from Goldman.
Paulson has not been charged with any wrongdoing.
The SEC is still pursuing its case against Fabrice Tourre, the Goldman executive who handled the CDO transaction. Tourre on Monday filed his response to the charges, denying any wrongdoing.
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 ...