Tuesday, 21 October 2014
Last updated 7 hours ago
Oct 28 2008 | 2:16pm ET
Investors are set to flee T. Boone Pickens’ energy hedge fund in droves.
The famed Texas oilman’s BP Capital, battered by energy market volatility, has lost about 60% of its value this year. And now about half of its investors have asked to withdraw their money, Reuters reports.
BP Capital has lost about $2 billion since late June. Pickens has reportedly waived withdrawal requirements, and has moved almost all of the fund’s assets into cash in preparation for the avalanche of redemptions, as well as to ride out the market volatility.
The losses are new territory for BP Capital, which has enjoyed only positive returns since its debut seven years ago. Pickens, who has made headlines in recent months more as an advocate for alternative energy and as an Oklahoma State University sports booster, has vowed to make a comeback.
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 ...