Tuesday, 21 April 2015
Last updated 11 hours ago
Jul 9 2013 | 11:07am ET
Several high-profile hedge funds are apparently unimpressed by star analyst Meredith Whitney.
Elliott Management, Paulson & Co. and Balyasny Asset Management have all dropped Whitney's eponymous research firm, as have more than half of her clients since she launched her own company four years ago. New York-based Meredith Whitney Advisory Group started with more than 30 research clients; by January, it was down to just 14, The Wall Street Journal reports.
Whitney, who made her name as an Oppenheimer & Co. analyst when she predicted trouble for Citigroup in 2007, has cut back on Meredith Whitney Advisory Group's staff, in spite of early talk of expansion. The firm, which once employed five full-time investment professionals in addition to Whitney, now has just one.
A few months ago, Whitney was in the market to launch a hedge fund, interviewing potential executives. The fate of that project is unclear.
Whitney's firm still boasts some big names on ts client roster, including BlackRock and Guggenheim Partners. MWAG charges some of the highest fees in the research business, $100,000 per year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…