Tuesday, 21 October 2014
Last updated 2 hours ago
Sep 22 2006 | 12:00am ET
Amaranth Advisors isn’t the only one awash in bad news this week. Former SAC Capital Advisors manager Thomas Grossman’s new hedge fund is facing probes on both sides of the globe regarding alleged funny stuff.
Bloomberg News reports that prying eyes want to know what’s up with some skyrocketing stock prices in several of Aeneas Capital Management’s portfolio companies. The Malaysian Securities Commission is probing the sudden price movements—especially that of Iris Corp., whose share price soared 270% after Grossman’s Aeneas took a 20% stake in it.
The report also said the Securities and Exchange Commission is getting involved. A lawyer returning calls for Aeneas, Kenneth Breen, told the White Plains, N.Y., Daily News that “Aeneas is cooperating fully with securities regulators.”
Whether or not Aeneas is guilty, it’s already suffering. Four Malaysian companies it has big stakes in took a dive when reports of the investigation hit.
Aeneas specializes in emerging markets strategies and has $400 million in assets under management.
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 ...