Monday, 30 March 2015
Last updated 8 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…