Tuesday, 21 October 2014
Last updated 42 min ago
Sep 22 2008 | 2:53am ET
Where there is a lawsuit, there is a counterlawsuit.
The redevelopers of New York’s famed Plaza Hotel have struck back at a Russian hedge fund manager who accused them of a bait-and-switch scam. El-Ad Properties has countersued Andrei Vavilov, alleging libel and accusing him of filing a “sham lawsuit.”
Vavilov sued El Ad earlier this month, alleging that the developer had misrepresented the two penthouses he had contracted to buy for $53.5 million. In the lawsuit, Vavilov calls the pricey digs an “attic-like space.” And Vavilov is apparently not the only hedgie unhappy with his new Plaza pied-a-terre: The New York Post reports that a second hedge fund manager has also sued El-Ad, for $6.5 million.
El-Ad’s countersuit against Vavilove seeks $36 million in damages.
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 ...