Wednesday, 22 October 2014
Last updated 16 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.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...