Wednesday, 22 October 2014
Last updated 12 hours ago
Nov 8 2013 | 11:01am ET
Former MF Global Holdings CEO Jon Corzine says there is nothing to an amended lawsuit filed against him and other former executives of the collapsed futures brokerage.
The former New Jersey governor last week asked a federal judge to dismiss the lawsuit, filed in September by the MF Global litigation trustee. Corzine said that the suit is noting more than "allegations of half-truths" and a litany of "disparaging characterizations."
The trustee, Nader Takavoli, has accused Corzine, former MF Global chief operating officer Bradley Abelow and former CFO Henri Steenkamp of acting "recklessly" and with "gross negligence" during the firm's final days, when $1.6 billion in customer funds went missing, used to cover investments in foreign debt.
But Corzine said that he and his colleagues never intended for the funds to be misused and that they didn't act in bad faith. His lawyers wrote that the transfers were part of a new business plan.
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 ...