Tuesday, 30 September 2014
Last updated 27 sec ago
Mar 25 2011 | 12:20pm ET
Citadel Investment Group wasn't the only hedge fund to celebrate a milestone birthday in December. While the Chicago hedge fund giant turned 20 in the waning days of 2010, its somewhat smaller peer, Glenview Capital Partners, celebrated its first decade.
Almost: Glenview waited until this week to celebrate its December birthday, gushing with pride to investors in a letter that its funds have enjoyed top-notch performance, indeed "meaningful outperformance versus hedge fund peers," during its first 10 years.
"It is with great pride that we recognize that each individual who 10 years ago chose to invest $1 million into Glenview vs. the average hedge fund or the U.S. equity markets now has up to $3 million of additional capital to invest in the education of their children, to improve the standard of living for their families or to invest in their communities," founder Larry Robbins wrote in a letter obtained by Dealbreaker.com.
Robbins also talked about his days as a young horseracing handicapper (his father worked at the track), noting, "I have met several skilled handicappers over time, but none of them has made the Forbes 400 list, and for good reason."
Instead, Robbins suggests, those handicappers should have tried their hand at running a hedge fund, as their "skill sets are much more useful and productive when applied to public markets investing."
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...