Tuesday, 21 October 2014
Last updated 10 hours ago
Jun 25 2012 | 2:04pm ET
Part of Elliott Associates' battle with Argentina over that country's 2001 debt default came to an end today.
The U.S. Supreme Court refused to hear Elliott's appeal of a lower-court decision ruling that its NML Capital cannot seize $105 million held by the Argentine central bank at the Federal Reserve Bank of New York. The Second Circuit Court of Appeals had overturned a lower-court decision awarding NML and another fund that money, finding that the Banco Central de la Republica Argentina is covered by the U.S. Foreign Sovereign Immunities Act.
The high court's decision allows the lower court decision to stand.
Justice Sonya Sotomayor, who dealt with litigation surrounding Argentina's default when she sat on the Second Circuit, did not participate in the decision.
The Supreme Court rejection does not end Elliott's fight: It has six other lawsuits pending, and has been awarded some $1.6 billion.
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…
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 ...