Friday, 19 December 2014
Last updated 12 hours ago
Oct 7 2008 | 1:50am ET
Tontine Associates has told investors that more than half of their investments have been wiped out amid the market turmoil.
The $10 billion Greenwich, Conn.-based firm said it expects its year-to-date loss to be 65% once all of the numbers have been crunched for Sept. 30. The firm, led by Jeffrey Gendell, who enjoyed triple-digit returns in 2003 and 2005, has been betting on a global economic boom.
Tontine boasts a concentrated portfolio, especially heavily invested in energy and infrastructure companies. Many of those names, including Cleveland-Cliffs, Goodyear and U.S. Steel, have seen their stock prices plummet in recent months.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.