Saturday, 20 September 2014
Last updated 20 hours 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.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.