Tuesday, 23 September 2014
Last updated 6 hours ago
Sep 6 2007 | 7:48am ET
Leaving locusts to the Germans, Japan’s new financial services minister has coined a new epithet for rogue hedge funds: piranhas. Luckily for hedge funds, however, that’s where the similarities end.
Yoshimi Watanabe told the Foreign Correspondents’ Club of Japan that he hopes to put out the welcome mat for foreign investors, including hedge funds, making the country’s markets “a pond where fish from overseas could swim.” But he warned that his hospitality has limits.
“We would not make the pond a place where no fish can live (due to strict regulations), and will provide enough plankton and food to draw the fish,” he said, extending the tenuous metaphor. “However, when the piranhas happen to come, we have to take them out.”
Japan’s new financial regulations, which include closer scrutiny for hedge funds, come into effect at the end of the month. And Watanabe warns that the country’s Financial Services Agency will be on the lookout for predators.
Regulators “cannot judge whether hedge funds are piranhas until we see their teeth,” he said. “Those who break compliance rules will be considered piranhas, and those who do not do so will not be considered as such.”
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.