Wednesday, 22 October 2014
Last updated 8 min ago
Sep 30 2006 | 9:10am ET
Lost among all the ink spilled over the Amaranth Advisors disaster is the demise of another billion-dollar hedge fund. New York’s Narragansett Asset Management is closing shop – for now – and has liquidated 80% of its portfolio, aiming to return funds to investors by the end of this month.
The fund, which took in $250 million in new money less than a year ago, was down 2% this year, according to a letter to investors from manager Joseph Dowling.
Dowling apparently plans to take a year or year-and-a-half off and then will “take a fresh look at our historical investment results and fine-tune my investment strategy.”
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 ...