Thursday, 23 October 2014
Last updated 6 min ago
Apr 17 2008 | 12:59pm ET
Josh Birnbaum, who helped orchestrate Goldman Sachs’ highly-profitable bets against subprime mortgage-backed bonds, has left the firm to found his own hedge fund.
Birnbaum, who was a managing director at Goldman, plans to raise about $1 billion for the fund, Bloomberg News reports. The fund is expected to join a glut of other vehicles pouring into mortgage investing in the wake of the continuing credit crisis.
Birnbaum joined Goldman in 1993 and reportedly made between $5 million and $15 million last year.
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 ...