Monday, 20 October 2014
Last updated 2 days ago
Sep 17 2008 | 10:55am ET
His hedge fund isn’t the Cadillac that it once was, but that hasn’t stopped Goldman Sachs’ Raymond Iwanowski from buying his deluxe apartment in the sky.
The Global Alpha manager—who saw his fund lose almost 40% last year and shrink by more than half due to redemptions—has bought a five-bedroom pad on New York’s Upper East Side for almost $13.6 million.
The full-floor Park Avenue condo is hardly the most extravagant real-estate purchase by a hedge fund manager in recent months: John Paulson, whose funds were returning triple digits while Iwanowski’s secretive quantitative fund was hemorrhaging red, paid $41.3 million for a 10-acre Hamptons estate earlier this year. But it isn’t too shabby, either. The 4,184-square-foot residence features nine rooms and two fireplaces.
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 ...