Tuesday, 21 October 2014
Last updated 2 hours ago
Sep 7 2012 | 11:23am ET
Joseph Russell, a former top executive at Citadel Investment Group, will close his two-year-old hedge fund at the end of the year.
Russell has already returned some of the $500 million in assets that Bell Point Capital Management's flagship managed. The New York-based firm reached that level, a record high for the fund, earlier this year.
Russell, 49, plans to retire after winding down Bell Point, Bloomberg News reports. He becomes the latest hedge fund manager to do so in recent months that have seen Centaurus Capital's John Arnold, George Soros and Carl Icahn return outside capital.
It is unclear why Russell is leaving the industry so soon after founding Bell Point, in 2010. The fund is up 4.5% this year.
Bell Point employed about 20, including John DiRocco, the former CFO at Citadel who served as Bell Point's chief operating officer. His plans are unclear.
Russell was head of U.S. fundamental credit at Citadel. He left the hedge fund giant in 2008.
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 ...