Thursday, 23 October 2014
Last updated 3 hours ago
Jan 31 2008 | 12:34pm ET
Deephaven Capital Management will liquidate a pair of poor-performing hedge funds, its parent, Knight Capital, said in a regulatory filing.
In addition, Andrew Greenberg, the senior portfolio manager who oversaw the $780 million event-driven funds, is leaving the firm.
The funds have suffered “significant” redemptions, and lost 1.27% last year, according to Financial News. Deephaven chief Colin Smith will oversee the funds’ liquidation and the return of assets to investors. Tony Chedraouiis, who runs the firm’s unrelated European event-driven portfolios, takes over for Greenberg in running Deephaven’s global event-driven team.
Greenberg was on Deephaven’s payroll for just over a year. He joined from Citadel Investment Group, where he was co-head of the global value group, to succeed Matthew Halbower, who left the firm to found his own hedge fund, Pentwater Capital.
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…
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