Sunday, 21 December 2014
Last updated 1 hour 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.