Tuesday, 21 October 2014
Last updated 7 hours ago
Mar 4 2008 | 1:00am ET
Investors have extended a $100 million lifeline to a Colorado hedge fund battered by bad bets on municipal bonds last week.
Blue River Asset Management raised the new funds from both exiting and new investors in an effort to stave off collapse. The firm was forced into a fire sale of assets after its Muni Bond Opportunity Universal Unit Trust suffered big losses in the municipal bond market late last week; some of the new money will be used to buy the assets the firm was forced to sell. Nor, apparently, is the firm done raising new cash.
Blue River was betting on a rise in long-date munis, but last week saw prices fall and spreads soar to record levels, The Wall Street Journal reports.
JPMorgan Chase said it help orchestrate the bailout, and that it was working to help Blue River raise more new money.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. 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 ...