Wednesday, 1 October 2014
Last updated 12 sec ago
Sep 14 2007 | 10:55am ET
Lake Shore Asset Management is still a cold, cold place. A federal court in Chicago slapped the Windy City hedge fund with a preliminary injunction, freezing its assets and prohibiting it from destroying documents or from trading in commodity futures and options. According to the Commodity Futures Trading Commission, which sought the injunction, “the court concluded that an asset freeze was necessary to protect customer funds.”
The CFTC has sought access to the firm’s records as it seeks to investigate claims that Lake Shore lied to investors about its performance. According to the CFTC, Lake Shore marketing materials claim $1 billion in assets under management and highly profitable trading, though the regulator believes it has actually lost about $29 million.
Lake Shore had argued that the CFTC had no right to look at its records, and after the initial court order of Aug. 28, it appealed and sought a stay of the order, both of which were rejected by the U.S. Court of Appeals for the Seventh Circuit in Chicago last week.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...