Monday, 1 September 2014
Last updated 3 days ago
May 8 2013 | 8:47am ET
Has George Soros done it again?
Rumor has it that the 82-year-old hedge fund legend, who made his name 21 years ago betting against the British pound, and who made nearly $1 billion earlier this year betting against the Japanese yen, has turned a smaller, but still tidy, profit on the Australian dollar.
The Australian press reports that Soros is behind a 36-hour, US$1 billion bet that the Australian Reserve Bank would cut interest rates. Indeed, it seems, someone placed the bet three times with different brokers in Hong Kong and Singapore, earning him almost $60 million.
While Soros has not acknowledged that he's behind the trades, the mere rumor that he was betting against the Aussie was enough to send the currency swooning.
"He is obviously very influential on currency markets," West Union Business Solutions' David Greene told CNBC. "If markets get a whiff that he is intervening, people start paying attention."
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...