Tuesday, 23 September 2014
Last updated 1 hour ago
Oct 4 2010 | 2:46am ET
Two-time hedge fund loser John Meriwether has launched two new hedge funds, hoping that the third time turns out better.
A founder of the legendary and infamous Long-Term Capital Management, which collapsed in 1998, requiring a government bailout, Meriwether has unveiled his JM Advisors Management's global macro strategy. The new fund is available in both onshore and offshore versions, according to regulatory filings.
Going with global macro is something of a change for Meriwether, and for JMAM. The Greenwich, Conn.-based firm was originally slated to run the same relative-value arbitrage strategy used at LTCM and JWM Partners, which Meriwether closed last year after taking a beating during the financial crisis.
JWM Partners lost some 44% over its last two years. Meriwether founded it in 1999, just a year after the spectacular demise of LTCM.
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.