Sunday, 21 December 2014
Last updated 1 day ago
Nov 15 2011 | 10:50am ET
Appaloosa Management clearly doesn't think that MF Global Holdings' shareholders will be wiped out by the futures brokerage's bankruptcy.
The hedge fund took a huge stake in the firm two days after it filed for bankruptcy, a regulatory filing shows. Appaloosa raised its stake in MF Global to 8.64% on Nov. 2; MF Global filed for bankruptcy on Oct. 31, leading to a halt in trading of its shares.
MF Global had been led by former Goldman Sachs CEO Jon Corzine, with whom Appaloosa chief David Tepper has had a difficult relationship. Corzine, who would go on to become a U.S. senator and governor of New Jersey, passed Tepper over for a partnership at Goldman; Tepper later bought Corzine's former home in the Hamptons and demolished it, commenting that there was "a little justice in the world."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.