Friday, 31 October 2014
Last updated 13 hours ago
Apr 17 2013 | 11:50am ET
The co-founders of Hachiman Capital Management split two years ago and shuttered the Asia-focused hedge fund. But according to one of them, the story does not end there.
Toru Ueda last month sued Yashwant Bajaj in Singapore, alleging that his former partner violated their separation agreement. According to Ueda, who now works at HFC Advisory Group, he and Bajaj agreed that each would not withdraw more than their stakes in Hachiman, and that they would each be responsible for losses they incurred, rather than the firm itself.
Ueda says Bajaj violated both of those provisions, moving US$458,965 from Hachiman to his new hedge fund, Juggernaut Capital Management, without Ueda's consent, and failing to account for a trading loss of US$247,197.
Bajaj has not yet filed his formal defense, but wrote in court papers that Ueda's claims "are wholly without basis."
Ueda is seeking at least US$365,400 from Bajaj.
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…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.