Saturday, 20 September 2014
Last updated 21 hours ago
Jul 20 2012 | 2:13am ET
Inundated by redemptions and down to just one co-founder, Woodbine Capital Advisors isn't getting any help from the markets.
The New York-based hedge fund saw its year-to-date gains wiped out last month. The fund, whose assets have plummeted from $1.2 billion to just $500 million this year, lost 2.2% in June, ValueWalk reports, leaving it down 1.5% on the year.
The losses came on European and currency investments, notably a short position on the euro.
Woodbine, which managed $3.2 billion just two years ago, lost 12% last year and shook up its staff. It followed up that loss with the loss of co-founders, Richard Corsden and Marcel Kasumovich, leaving only Joshua Berkowitz, a former Soros Fund Management trader.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.