Thursday, 18 September 2014
Last updated 45 min ago
Apr 21 2014 | 3:31pm ET
Crispin Odey did not mince words about the disaster that befell his Odey Asset Management in March.
The €1.7 billion hedge fund lost 7.3% last month, Odey told investors. “The reversal in fortunes has been swift and the destruction intense,” he wrote.
The decline left Odey down 4.6% on the year, cutting its exposure and long bets. “We are down to hand-to-hand fighting.”
Odey did not sound optimistic for a quick turnaround, warning that the “world economy could turn in many different ways.” He said his fund’s reversals were fueled by the “cold winter” in the U.S. and “little evidence of real growth” in Europe.
“Throw in an uncertain Russia and an invasion of the Crimea, and is it any surprise that the markets have been choppy.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.