Monday, 20 October 2014
Last updated 2 days ago
Jun 16 2011 | 10:34am ET
Some years ago, Williamsburg, Brooklyn, was an enclave all-but-reserved for artists priced out of Manhattan and a group of extremely Orthodox Jews. No more.
A top hedge fund trader has plunked down $2.2 million for a condominium atop Williamsburg's tallest building, demonstrating that the neighborhood is now drawing the Wall Street set.
LibreMax Capital's Jordan Milman is the newest resident of what used to fancy itself New York's hippest 'hood. Milman's digs are on the 30th floor of The Edge, which while not in Manhattan offers some pretty amazing views of the city, given its location on the Brooklyn waterfront.
And as befits a man who makes his money investing in subprime mortgages, Milman made sure to get a deal on the 2,000-square-foot space. When it first came on the market three years ago, the apartment was the most expensive in the complex, seeking $2.56 million. But Milman paid $200,000 less for it than another three-bedroom penthouse in the place, which sold in November.
Milman, a former Deutsche Bank trader, co-founded LibreMax last year. The new fund debuted in November and already manages an impressive $700 million.
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 ...