Wednesday, 22 October 2014
Last updated 17 hours ago
Jul 30 2012 | 11:46am ET
Amazon.com founder Jeff Bezos' $2.5 million contribution to help keep same-sex marriage legal in his home state made headlines last week. But he's merely joining the hedge fund honchos, many of them Republicans, who have financed the marriage equality push over the last several years.
Elliott Management's Paul Singer, AQR Capital Management's Clifford Asness, Third Point's Daniel Loeb and Baupost Group's Seth Klarman have all given to the Freedom to Marry PAC. Those four and Ken Mehlman, campaign manager for President George W. Bush's 2004 campaign who now works at Kohlberg Kravis Roberts, have given the group a total of $1.5 million.
Singer, Asness, Loeb and SAC Capital Advisors' Steven Cohen previously worked to support same-sex marriage in New York, which approved it last year. Freedom to Marry is backing referenda on same-sex marriage legalization in Maine, Maryland and Minnesota this year.
"This issue is a no-brainer for me," Asness told Bloomberg News. "While you won't change people with radical views, you can help give courage and cover to the moderate Republicans out there who want to back gay marriage."
But what of his backing former Massachusetts Gov. Mitt Romney, the presumptive Republican nominee to take on President Barack Obama in November, who is a strident opponent of same-sex marriage.
"I disagree with Romney firmly on this issue," Asness allows. "But I agree with him way more on issues across the board that I do with Obama, making Romney an easy choice for me."
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 ...