Monday, 4 May 2015
Last updated 8 hours ago
Dec 5 2007 | 8:05am ET
A hedge fund posts a big loss, and an old name is back in the news: Amaranth Advisors.
A group of traders who joined $13 billion Moore Capital Management from the collapsed hedge fund about a year ago may have learned the wrong thing from their former employer. Their portfolio lost 15% in November, Bloomberg News reports, on bad stock and convertible-bond bets.
The Canadian-based hedge fund unit, which was trades distressed debt, convertible bonds and equities, was managing about $1 billion in capital from Moore’s hedge funds and had been flat for the year before last month. It is led by Manos Vourkoutiotis, who headed Amaranth’s Canadian debt, equities and derivatives trading for six years before the firm blew up on bad energy bets last August.
Overall, the Moore Global Investment Fund, which is not managed by the Canadian team, fell only 2% in November, but remains up 15% year-to-date.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…