Friday, 24 April 2015
Last updated 3 hours ago
Apr 8 2011 | 12:09pm ET
Here’s a problem most hedge fund managers would love to have: a fund that plans to use Twitter feeds has had to delay its debut because it’s raised too much money.
IR Web Report says the London-based fund created by brothers Paul and Simon Hawtin has raised almost $100 million—that’s about $60 million more than the brothers had expected to have for their April 1 launch. As a result, the launch has been delayed while the fund is restructured to accommodate more investors.
This is the second delay for Derwent Capital Markets, the Hawtins’ firm, which had initially intended to launch the fund in February 2011, but had to postpone while it ramped up its operation to cope with greater-than-expected investor interest.
Derwent claims the use of “calm” motional words on Twitter, properly analyzed, lets the firm predict where the Dow Jones Industrial Average is going in the next two to six days with a remarkable 87.6% accuracy.
The Hawtins hope to earn 15% to 20% returns.
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…