Friday, 24 April 2015
Last updated 7 hours ago
Oct 11 2011 | 12:17pm ET
Hedge fund RK Investment Advisors soared more than 140% in the third quarter—by many measures among the worst-ever three-month periods for the hedge fund industry.
Kinnelon, N.J.-based RK's Speculators Portfolio bet against U.S. stocks in anticipation of the end of the Federal Reserve's second round of quantitative easing. The Standard & Poor's 500 Index plummeted over the past three months, which began with the end of QEII.
"'Don't fight the Fed' is the theme of the last two years," RK chief investment officer Randy Kurtz said. "Even in the face of bad news, when the Fed floods the market with money, stocks rise, and when the Fed stops, the market falls."
The Speculative Portfolio jumped 141.94% in what Kurtz called the "quarter of carnage."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…