Thursday, 2 October 2014
Last updated 55 min ago
Jan 9 2013 | 12:03pm ET
It's no surprise, given how badly its funds did in 2011, but Paulson & Co.'s European unit did not do so well that year.
London-based Paulson Europe's profit fell 86% in the year-ended March 31, 2012. The unit earned just £3.7 million in the fiscal year, which coincided with the huge losses Paulson suffered in 2011, when its largest hedge fund lost more than half its value.
Things don't look to get much better when Paulson Europe files its accounts for the current fiscal year: Three of its funds, including Advantage Plus, which lost 51% in 2011, suffered double-digit losses again last year.
Paulson Europe's profit was split between four members. Two of them, Mina Gerowin Herrmann and Nikolai Petchenikov, have since left the firm. Only Harry St. John Cooper and Paulson Ltd. remain, although Paulson named gold strategist John Reade to the upper echelon of Paulson Europe last month.
Despite the losses, and Paulson's blaming much of them on bad bets in Europe, Paulson Europe did increase its staffing, from 11 to 16.
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...