Thursday, 30 October 2014
Last updated 1 hour ago
Oct 1 2008 | 8:59am ET
London quantitative hedge fund shop CQS says there is a lot of blame to go around for its most recent losses.
In a letter to investors, Michael Hintz, the firm’s CEO, said new regulations and trouble in the banking and hedge fund industries sent CQS’ flagship hedge fund down 10% last month. He said exposure to Lehman Brothers and widespread asset sell-offs, “especially last week,” negatively affected the US$4.5 billion convertible arbitrage fund.”
Hintz said the firm has had to allocate “substantial resources” to deal with the “slew of instructions” from regulators. Despite all of that, and the continuing market turmoil, Hintz put on a brave face, saying he was “encouraged and positive” about the fund’s future.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.