Thursday, 2 October 2014
Last updated 13 min ago
Sep 15 2011 | 3:38am ET
A New York hedge fund manager with no previous experience in the field is buying one of the city's baseball teams.
No, Greenlight Capital's David Einhorn and the New York Mets have not made amends. But an unidentified hedge fund honcho has agreed to buy the minor-league Staten Island Yankees from their current owners, the big-league New York Yankees. The new owner is to pay $8.3 million for the team—a far cry from the $200 million Einhorn was to pay for a piece of the Mets—who have struggled financially in recent years.
The sale of the Baby Bombers still requires the approval of the New York-Penn League, Minor League Baseball and Major League Baseball, but an announcement is expected soon.
The team's attendance at the Richmond County Bank Ballpark has sagged in recent years, despite its unprecedented success on the field. Since moving to New York City's smallest borough 12 years ago, the Yankees have won six New York-Penn League championships, including this year's. The new owner reportedly plans to keep the team in Staten Island.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...