Wednesday, 1 October 2014
Last updated 3 hours 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.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...