Thursday, 2 October 2014
Last updated 14 hours ago
Feb 3 2011 | 12:04pm ET
At the beginning of November, Yorkville Advisors was poised to continue its unbroken streak of positive annual returns. But the firm's flagship closed out 2010 with its two biggest monthly losses ever, leaving it not only with its first-ever full-year loss, but with a big loss, to boot.
The YA Global Investments Fund I dropped 5.25% in November and 26.9% in December to end the year down 33%, Forbes reports. All told, Yorkville suffered losses in 10 months last year, a startling turnaround for a firm which had only posted nine losing months in the previous nine years, all of them in 2008 and 2009.
The average hedge fund rose about 10% last year, thanks in no small part to a strong December for the broader stock markets.
Jersey City, N.J.-based Yorkville's year-end disaster caps a year in which it revealed it was subpoenaed by the Securities and Exchange Commission last year, and then had to fend off media attention for its receipt of $233 million in government bailout funds.
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...