Sunday, 21 September 2014
Last updated 1 day ago
Jan 6 2011 | 10:57am ET
Don Brownstein, the philosophy prof turned fund manager, has topped Bloomberg Markets’ 2010 list of the 100 best-performing hedge funds managing $1 billion or more.
Brownstein’s flagship $1.2 billion Structured Servicing Holdings fund returned 50% in the first 10 months of 2010. This follows growth of 135% in 2009. Structured Portfolio Management, the company founded by Brownstein, is based in Stamford, Connecticut and manages a total of $2 billion in five partnerships. His director of portfolio management is William Mok.
Brownstein beat out funds like Ray Dalio’s Bridgewater Associates and Steve Cohen’s SAC Capital International to capture first place in his category.
Brownstein, one of the few who foresaw (and profited from) the subprime mortgage crisis described that crisis to FINalternatives last year—more precisely, he explained how it was linked to the United States’ trade deficit with China. (The subprime mortgage crisis, he said, could have been prevented if Americans had “paid more for their plasma TVs.”)
Brownstein and Mok have not revealed how they scored so big in 2010, but they continue to specialize in mortgage securities.
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.