Tuesday, 30 September 2014
Last updated 5 hours ago
Jun 5 2014 | 11:01am ET
When hedge-fund managers Carl Icahn and William Ackman buried the hatchet in April after a bitter, decade-long feud, Ackman suggested that the two famed activists might one day work together. That day may be now.
Icahn has taken a $51 million stake in government-backed mortgage giants Fannie Mae and Freddie Mac, according to regulatory filings. The deal puts Icahn alongside Ackman’s Pershing Square Capital Management, which owns an 11% stake in both companies.
Icahn bought his shares from Fairholme Capital Management, which has been leading the push to save the two companies. Both Congress and the White House want to see Fannie and Freddie—which required $187 billion in federal bailout funds during the financial crisis—wound down and replaced with a new system that keeps less taxpayer money at risk. But reaching a deal on how to do so has proven elusive.
That has given hope to Ackman, who in February said that Fannie and Freddie would survive, and that Fairholme’s legal challenge to the bailout would succeed.
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...