Tuesday, 21 October 2014
Last updated 4 min ago
May 25 2011 | 1:59am ET
Facing an insider-trading investigation of its own, SAC Capital Advisors has moved to profit from another firm's insider-trading woes.
The Stamford, Conn.-based hedge fund giant has hired Christopher Susanin from FrontPoint Partners, Reuters reports. At FrontPoint, which is liquidating most of its hedge funds, Susanin managed consumer and industrial stocks.
Susanin joined FrontPoint in 2006 to launch its consumer and industrials long/short equity team. He was formerly portfolio manager at John Levin & Co., covering the same sectors.
FrontPoint last week announced that it would liquidate most of its hedge funds, including its flagship Multi-Strategy Fund, amidst massive redemption requests. Clients headed for the door in the wake of an insider-trading scandal involving FrontPoint's former top healthcare fund manager, Joseph Skowron, a SAC alumnus.
SAC itself is currently in the crosshairs of an insider-trading probe led by Sen. Charles Grassley (R-Iowa).
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 ...