Tuesday, 23 September 2014
Last updated 1 hour ago
Aug 19 2013 | 9:24am ET
The wives of three prominent hedge fund managers are among the victims of a raft of jewelry thefts at one of the world's most exclusive addresses.
Millennium Management founder Israel Englander's wife Caryl, Level Global Investors co-founder David Ganek's wife Danielle, and former Bernard Madoff feeder fund manager J. Ezra Merkin's wife Lauren all lost valuables in the scam, in which more than $250,000 in jewelry was lost, the New York Post reports. The thefts occurred at the three couples' apartments in 740 Park Avenue, which has been dubbed "the world's richest apartment building."
Law enforcement officials believe the thefts, which occurred between May 30 and July 4, while the victims were out of town, were inside jobs.
"It's a very secure building," a law-enforcement source told the Post. "No one is going to just walk in and gain access to these apartments."
The police have questioned one worker at the building, who has since been fired, but didn't have enough evidence to make an arrest and did not recover any of the stolen items.
The Ganeks appear to be the hardest hit, losing some $100,000 in items, including diamond earrings and two Patek Philippe watches. Lauren Merkin is out tens of thousands of dollars' worth of jewelry as well, including a $47,000 diamond necklace, diamond earrings, a watch and two wedding bands. And Caryl Englander saw a $7,500 watch stolen.
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.