Wednesday, 1 October 2014
Last updated 14 hours ago
Dec 10 2012 | 5:34am ET
Former German Finance Minister Peer Steinbrück, who led that country's push for tougher European and international hedge fund regulations, will seek its highest office in next year's election.
Steinbrück was formally nominated to challenge Chancellor Angela Merkel by Germany's opposition Social Democrats this weekend. He served as finance minister under Merkel from 2005 through 2009.
During his time in office, Steinbrück was often the public face of Germany's push to crack down on hedge funds and private equity funds. But he failed to convince his colleagues in Britain, the EU and the U.S. to follow his lead; Germany has become somewhat more accommodating to hedge funds—on the international stage—since he left office.
"The financial crisis showed that things have got out of balance in Germany, in Europe and in our society," Steinbrück told his party.
"Germany needs more 'we' and less 'I,'" he added.
Steinbrück's chances of unseating Merkel, who will seek a third term in September's poll, are murky at best. Merkel's center-right Christian Democratic Union and its Bavarian allies have a roughly 10-point lead on the SPD in the polls. But its current coalition partners are way down in the same polls, at levels likely to seem them tossed out of the Bundestag entirely, while the SPD's allies, the Greens, are polling above 10%.
Steinbrück has vowed not to serve in a "grand coalition" with the CDU and CSU, as he did as finance minister.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...