Tuesday, 23 September 2014
Last updated 12 hours ago
Aug 1 2007 | 4:50pm ET
Caxton Associates said its flagship hedge fund fell 3% in July, but was still up more than 3% year-to-date.
The New York-based hedge fund group, in a letter to investors, said the $11 billion Caxton Global Investments, is up 3.21% in 2007, net of fees. Unlike its fellow bad-news headline makers, Caxton’s woes are apparently not linked to sub-prime mortgage: Firm President Peter D’Angelo blamed “reversals in global equity markets” for the fund’s troubles, and wrote that “losses like the above are not unusual for us during periods of major market shifts.”
D’Angelo said he took the “unusual step” of a performance update to combat “the circulation of unfounded rumors in the internet community.” The Wall Street gossip blog DealBreaker reported rumors that Caxton was “blowing up” yesterday, and Forbes magazine’s Web site this morning cited rumors that Caxton “may be in trouble.” In addition, TheStreet.com this afternoon said the firm was selling assets to meet margin calls from JPMorgan Chase and Goldman Sachs.
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 McKitich, CIO of Petty 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…
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.