Tuesday, 2 September 2014
Last updated 3 days ago
Aug 5 2011 | 12:39pm ET
Paulson & Co. isn't the only big hedge fund nursing a nine-figure loss this summer.
When pharmaceutical company Dendreon Corp. withdrew its 2011 revenue estimate after it admitted it was still struggling to educate doctors about its new prostate-cancer drug, Provenge. That sent the company's shares down by two-thirds, and left SAC Capital Advisors with a paper loss of $196 million.
SAC's prostate problems follow Paulson's $574 million loss on Chinese timber company Sino-Forest last month. Sino-Forest shares plummeted by some 90% in the wake of a research report accusing the company of overstating its timberland holdings.
SAC is Dendreon's biggest shareholder, but not its only shareholder among hedge funds. Balyasny Asset Management, Citadel Investment Group, Healthcor Management, Millennium Management, Soros Fund Management and Visium Asset Management all owned sizeable stakes in the company, as well.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...