Thursday, 23 October 2014
Last updated 15 hours ago
Feb 2 2012 | 10:04am ET
A federal bankruptcy court judge has approved a hedge fund's claim against Washington Mutual.
Tranquility Master Fund claims it was misled into buying $71 million worth of mortgage-backed securities from the bankrupt bank. U.S. Bankruptcy Judge Mary Walrath ruled yesterday that the hedge fund can asset claims of up to $10 million for the purpose of voting on WaMu's latest bankruptcy exit plan. Walrath will consider that plan later this month.
At the same hearing, Walrath will decide whether to approve a settlement between WaMu and Tranquility under which the latter would drop a $49 million claim against the former in exchange for a general unsecured claim of $9 million and as much as $1 million more, if there is any money left after repayment of other creditors.
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…
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 ...