Sunday, 31 August 2014
Last updated 1 day ago
May 22 2013 | 11:34am ET
One noted money manager, Bulldog Investors' Phillip Goldstein, is trying to get another fired.
The activist hedge fund manager's latest campaign seeks to have Kevin Landis, the manager of the Firsthand Technology Value Fund, fired. Goldstein, whose firm owns a 9.67% stake in the closed-end fund, notes that its shares currently trade for $4 less than their net-asset value.
"To put it bluntly, there are some people who should not be managing other people's money," Goldstein wrote to the Firsthand fund yesterday. "Kevin Landis has demonstrated he is one of those people."
Landis made a name for himself during the dot-com boom, and more recently for buying up private shares of Facebook Inc. But Firsthand Technology's performance has fallen lately, dropping 27% since it became a closed-end fund in 2011.
Goldstein is pushing for a shareholder vote on Landis' future, although it could take a year for the vote to occur.
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 ...