Wednesday, 1 October 2014
Last updated 17 sec ago
Sep 5 2013 | 1:20pm ET
A brutal summer for Pershing Square Capital Management has nearly wiped out the firm's 2013 gains.
The activist hedge fund lost another 3.6% in August, Reuters reports. Coupled with its 2.2% drop in July, the loss leaves Pershing Square—which was up about 8% through the middle of July—with a positive return of just 0.3% on the year.
In a letter to investors, Pershing Square chief William Ackman did not specify which investments were responsible for the swoon. But the firm is known to have taken large losses on its $1 billion short against nutritional supplements company Herbalife, and late last month sold off its entire 18% stake in struggling retailer J.C. Penney Co. at a loss of about $500 million.
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...