Tuesday, 21 October 2014
Last updated 22 min ago
Aug 9 2011 | 12:42pm ET
Maverick Capital co-founder Charles Wyly was killed in a car accident Sunday morning near the Aspen-Pitkin County Airport in Colorado.
Wyly, who made billions with his younger brother and business partner, Samuel, was hit by a sports utility vehicle while turning onto a highway near the airport. Wyly, who had a home in Aspen, had taken his Porsche to the airport to get a cup of coffee and a newspaper. He was 77.
Wyly and his brother’s business empire at times included crafts chain Michaels Stores and the Bonanza Steakhouse chain. The two were early pioneers in the computer industry and sold Michaels to Bain Capital and the Blackstone Group five years ago for $6 billion.
Last year, the two men were sued by the Securities and Exchange Commission for $550 million. The regulator accused the two men of insider-trading and hiding assets, diverting some of their ill-gotten gains into Maverick and another hedge fund founded by Sam Wyly, Ranger Capital.
The Wylys have denied any wrongdoing, but lost a bid to have the suit dismissed in March.
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 ...