Wednesday, 22 October 2014
Last updated 1 min ago
Jan 30 2013 | 1:17pm ET
Activist hedge fund Trian Fund Management has cut its stake in State Street Corp., just over a year after it attacked the bank's management.
The hedge fund, headed by Nelson Peltz, sold down its State Street holdings late last year. It's unclear how much of the stake, once 3.3% of the bank, it sold, but it did so at a profit: Trian bought the shares in the $34 dollar range, and they now stand about $20 higher.
Much of that growth can be attributed to Peltz's "action plan," which called for job cuts, higher dividends and share buybacks.
It is unclear why Trian cashed out of part of all of its State Street investment. The bank's shares are still far below the $99 the hedge fund predicted they could reach if its plans were implemented.
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 ...