Tuesday, 30 September 2014
Last updated 1 hour ago
Sep 9 2010 | 1:52am ET
The Securities and Exchange Commission has sued a Colorado hedge fund manager for allegedly misleading clients in three funds that lost money in the Bernard Madoff Ponzi scheme.
The regulator did not accuse Neal Greenberg of knowing about or participating in the $65 billion fraud. But it did say that he promised investors in his Agile Group low-risk investments. Many of the firm’s more than 100 clients were retirees.
“Greenberg misrepresented the diversification, risks and fees involved with investing in the Agile hedge funds to conservative investors who were dependent upon their investment income for some or all of their living expenses,” Donald Hoerl of the SEC’s Denver office said. “Greenberg’s unsuitable recommendations and misrepresentations deceived his advisory clients into believing their money was safe with him.”
Agile, which managed $174 million, suspended redemptions in September 2008, telling investors that it had suffered losses in a fraud. Only three months later did clients learn that the losses were linked to Madoff, as well as the Thomas Petters Ponzi scheme.
The SEC also accuses Agile of charging some $2 million in inadequately-disclosed fees.
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…
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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.