Tuesday, 21 October 2014
Last updated 5 hours ago
Sep 10 2012 | 12:55pm ET
Paulson & Co. hopes to pull off the turnaround that eluded it last year and for the first seven months of the year, and those hopes got a shot in the arm in August.
Most of the firm's hedge funds posted gains on the month, including its flagship Advantage and Advantage Plus funds, Bloomberg News reports. Those funds were down 13% and 18%, respectively, through July, after losing 36% and 51%, respectively, in 2011.
Paulson's Gold Fund was the biggest winner in August, jumping 11% to cut its 2012 loss to 15%. Paulson Enhanced also gained ground last month.
The $19.5 billion firm separately won a court victory today that would allow it to sell four resorts to the Government of Singapore Investment Corp. for $1.5 billion. A federal bankruptcy court judge said he would approve an order allowing the auction, which has been moved from Oct. 25 to Nov. 8.
The GIC bid is subject to higher offers for the resorts, which Paulson put into bankruptcy last year after a foreclosure. The hedge fund has already sold the Doral Golf Resort and Spa in Miami; the remaining properties are in Arizona, California and Hawai'i.
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 ...