Friday, 24 October 2014
Last updated 1 hour ago
Nov 8 2007 | 12:16pm ET
Investors in a hedge fund that went under during this summer’s market turmoil are crying foul, accusing its managers of defrauding them out of as much as $100 million.
According to an arbitration claim filed last month against Sample & Cross Capital Management, investors allege that the firm said the Vega Opportunity Fund would focus on capital preservation. Instead, it managed to lose 75% in a single day, before Sample & Cross pulled the plug on Aug. 17.
Sample & Cross, based outside Chicago, was founded by UBS veterans Matthew Sample and J. David Cross.
Andrew Stoltmann, representing some of the aggrieved investors, filed the complaint with the American Arbitration Association, accusing the firm of violating Illinois antifraud provisions.
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…
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 ...