Tuesday, 23 September 2014
Last updated 8 hours ago
Apr 27 2011 | 12:02pm ET
Citadel Investment Group will continue its sell-off of its once-massive stake in online brokerage E*Trade Financial this month. The hedge fund plans to sell 27.5 million shares, reducing its stake to just under 10%.
Citadel twice bailed out the troubled brokerage, building up its stake in the form of convertible debt. This month's sale will be the third for Citadel in the past 13 months; all told, it will have sold nearly 230 million E*Trade shares since last April, the lion's share of E*Trade's total shares outstanding.
Morgan Stanley is leading the secondary offering, Citadel's second of E*trade shares this year. The deal is expected to close on Friday.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.