Saturday, 25 April 2015
Last updated 15 hours ago
Mar 19 2008 | 1:03am ET
Talk about getting off to a fast start. After losing 23.14% last year, alternative asset manager Mulvaney Capital Management gained back virtually all of its losses in January and made off with a 28.86% gain in February.
U.K.-based Mulvaney’s $127 million Global Markets Fund’s gains were fuelled by a “broad, powerful rally in commodities,” according to the firm. The fund’s most profitable sector was grains, “where demand continues to grow despite the massive surge in prices.”
“The last decade has seen the biggest grain price shock in living memory, but the peak-trough multiples of this episode are still some way below extreme levels reached in the 17th and 19th centuries,” wrote the firm in an investor letter.
The fund’s non-commodities trades including in the foreign exchange, interest rate and stock index markets made “scant” contributions to its profits and losses.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…