Thursday, 2 October 2014
Last updated 1 hour ago
Sep 30 2008 | 11:39am ET
The Securities and Exchange Commission has fined an offshore hedge fund for illegal short-selling of 18 companies.
The culprit, Victoire Finance Capital, is based in New York and was founded in 2003. The firm serves as the investment adviser to Victoire Finance et Gestion, a Netherlands Antilles-based private offshore hedge fund. According to the SEC, from February 2004 until August 2005, the fund sold short securities of eighteen issuers including, Wynn Resorts and Weyerhaeuser Co., realizing profits of $168,139.
Most of the transactions followed the same general pattern: VFC sold securities short either the day of, or the day before, the pricing of the public offering and then covered all or part of the short position with shares that it purchased in the offering, the SEC says.
The firm has been ordered to pay disgorgement of $168,139 and prejudgment interest of $132,491.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...