Thursday, 2 October 2014
Last updated 42 min ago
Sep 27 2013 | 10:27am ET
If hedge funds can't have Lawrence Summers heading the Federal Reserve, they'd like to see one of his successors as U.S. Treasury secretary take the helm at the central bank.
Timothy Geithner's name was on many lips at the SkyBridge Alternatives Conference in Singapore this week. Geithner, who served as Treasury secretary during President Barack Obama's first term, spoke a the event on Wednesday.
Geithner's discussion was closed to the press, but he offered "measured comments" and avoided discussion of his own interest in succeeding Ben Bernanke at the Fed. Geithner has previously said he has no interest in returning to Washington, D.C.
"There was a strong feeling that if [Geithner] decided to take the Fed job, everybody here in Singapore believed it would be the most bullish thing for markets, for continuity of Fed policy," Gary Kaminsky, vice chairman of Morgan Stanley Wealth Management, told CNBC. There was a "big, unanimous decision" among the hedge fund managers present that "they'd like to see" Geithner, who served as president of the New York Federal Reserve Bank during the financial crisis, "take that job if offered."
There is currently no indication that it will be: Fed Vice Chairwoman Janet Yellen is still seen as the favorite for the post, following Summers' withdrawal from consideration. Earlier this week, Highbridge Capital Management co-founder Glenn Dubin and Avenue Capital Group chief Marc Lasry told a Bloomberg summit that Summers would have made a "great" Fed chairman.
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...