Saturday, 23 May 2015
Last updated 1 day ago
May 21 2008 | 10:12am ET
A new survey of more than 70 U.S. hedge fund managers and their advisers found that most have a broadly pessimistic view on the prospects for the U.S. economy in 2008.
According to Kinetic Partners, which provides audit and assurance, tax, regulatory risk and compliance services to the investment industry, 75% of managers believe the Dow Jones Industrial Average will show negative returns in 2008 and 80% say that the U.S. economy will be stagnant or in recession at the end of the year. And the vast majority of hedge funds believe the Federal Reserve will keep a tight rein on interest rates
Julian Korek, a member of Kinetic Partners, said: “The hedge fund industry has suffered hard in the credit crunch, as asset values tumble and prime brokers put a choke on new financing. Our survey suggests that the US hedge fund community sees little improvement before the end of the year, and that the slowdown will continue.”
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…