Monday, 20 October 2014
Last updated 26 min ago
Mar 16 2011 | 12:45pm ET
The New York Mercantile Exchange has rapped hedge fund Goldfinch Capital Management for exceeding position limits in natural gas futures.
The Houston-based energy hedge fund was ordered to pay a $50,000 fine and $17,287 in profits earned on the excess U.S. contracts, NYMEX's owner, the CME Group, said yesterday. According to NYMEX, Goldfinch's short position was "53 contracts (5.3%) over the expiring speculative spot month position limit."
The violation occurred on Nov. 23 for the December 2010 contract, and is Goldfinch's third such infraction over the past to years. The hedge fund later bought enough contracts to cut its position back under the 1,000 contract limit.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...