Tuesday, 21 October 2014
Last updated 4 hours ago
Aug 19 2010 | 2:21pm ET
Och-Ziff Capital Management said yesterday that a regulatory probe into its alleged role in Lehman Brother’s collapse went “nowhere,” and that the Lehman estate should look internally for the source of a rumor that may have contributed to its demise.
The Securities and Exchange Commission probe went “nowhere because there is nothing,” Kenneth Bressler, a lawyer for the New York hedge fund, said. Och-Ziff is fighting a subpoena from Lehman seeking e-mails that it claims show a rumor circulating that Lehman had improperly spun-off debt to a hedge fund, R3 Capital Management, founded by a former Lehman executive. Lehman said it is not sure whether Och-Ziff helped start or spread the rumor, or whether it was merely a recipient.
In response, Och-Ziff points the finger at a n unidentified Lehman managing director as the source of the rumors.
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 ...