Tuesday, 30 September 2014
Last updated 8 hours ago
Apr 1 2014 | 1:41pm ET
Pershing Square Capital Management took a bath last month on its big stakes in mortgage giants Fannie Mae and Freddie Mac. Rather than cutting its substantial losses, however, the hedge fund is taking the swoon as an opportunity—to increase its investment.
Pershing Square’s stake in the two companies has grown to more than 11%, from about 9.8% each.
Fannie and Freddie shares fell sharply last month after a bipartisan plan to wind the two companies down and replace them with a new system of federally-insured mortgage securities that would saddle investors with more losses. Pershing Square’s losses totaled some $300 million.
Despite that, Pershing Square founder William Ackman believes that the likelihood that Fannie and Freddie will disappear is shrinking.
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...