Saturday, 22 November 2014
Last updated 1 day ago
Oct 3 2011 | 12:13pm ET
Many, if not most, of the hedge fund managers who helped bankroll President Barack Obama's run for the nation's highest office three years ago have abandoned him—or worse, switched sides. Kynikos Associates' James Chanos isn't one of them.
Chanos was among the 116 attendees at a $10,000 a plate fundraiser for the president and the Democratic National Committee on Friday, The New York Times reports. The event raised more than $1.5 million—but fell about 14 people short of really selling out.
The event, at the Four Seasons restaurant in New York, was hosted by Berkshire Hathaway's Warren Buffett, who has also not given up on the president, despite the fact that much of Wall Street has. Indeed, his help went beyond merely hosting the dinner: Those attendees who wanted some face time with Buffett had to pony up $35,800.
Many of Obama's hedge fund and finance industry backers are unhappy with his handling of financial regulation reform and his calls for higher taxes on them. One of those calls for higher taxes, on the wealthiest, was in part inspired by Buffett, who said people like himself should pay much more.
"I have always had people disagree with me on politics," Buffett told the Times.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...