Saturday, 23 August 2014
Last updated 17 hours ago
Jul 27 2007 | 2:02pm ET
Managing Harvard University’s money apparently doesn’t necessarily make you smart enough to dodge the sub-prime shrapnel.
Sowood Capital Management—founded by former Harvard Management Co. money manager Jeffrey Larson—is down 10% year-to-date due to big bond losses over the last two months, the Wall Street Journal reports.
Unlike other hedge funds burned by the credit crisis, Boston-based Sowood seems to be in good shape. The firm, which Larson set up after the end of his extremely successful stint at Harvard in 2004, has been able to meet its margin calls and does not face any redemptions until the end of 2008. It is in no danger of shutting down, the Journal reports.
Still, the fund, which trades both stocks and bonds, has sold some positions to raise cash for margin calls, including positions in merger-related shares.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note