Monday, 20 October 2014
Last updated 3 hours ago
Oct 29 2013 | 1:03pm ET
When British graffiti artist Banksy began his "residency" in New York City earlier this month, hedge fund manager Nelson Saiers made him an offer: Paint a mural to raise awareness of those still affected by Hurricane Sandy, and he'd donate $100,000 to rebuilding efforts.
And while Banksy has produced a new work just about every day during October, a Sandy-themed piece has yet to appear. But Saiers has decided to go ahead with his gift to World Vision, which seeks to help underprivileged children in areas battered by the storm, which made landfall in New Jersey one year ago today.
"As the anniversary of Hurricane Sandy is upon us, I've decided to waive the criterion on my original letter and will donate the original $100,000 to World Vision to benefit underprivileged children in Sandy-affected areas," Saiers wrote. But the Saiers Capital chief hasn't given up on Banksy, whose "residency" has a couple more days to run.
"At this point, the anonymous donors are waiting to see if you will accept the original offer before donating the remaining $142,000. As art is subjective, if you have already completed a piece fulfilling the requirement please contact me. Speaking of great art, during your residency if you haven't seen Swoon's Hurricane Sandy mural you should check it out. She's doing an amazing thing."
Hurricane Sandy devastated coastal areas of New York, New Jersey and Connecticut, including Manhattan's financial district, closing the New York Stock Exchange and the city's public-transportation system, and doing some $70 billion in damage.
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 ...