Wednesday, 1 October 2014
Last updated 14 hours ago
Nov 25 2008 | 3:12am ET
Robert Preston, a former portfolio manager at Merrill Lynch, recently launched a hedge fund focusing on companies working on clean technologies and energy delivery efficiencies.
Specifically, the Craigmillar Equity Fund concentrates on companies that are benefiting from the long-term energy de-carbonization trends. The firm believes that density consideration has been the driving force of energy evolution, affecting all sectors of the economy.
“Coal is easier to store than cords of wood,” it said. “Oil, by truck, was easier to move than coal by rail. Gas can be shipped to homes by pipe. A wire is smaller than a pipe.”
The fund, which launched in July, has suffered along with the rest of the industry this year, dropping some 20% since inception, according to public databases. It charges a 2% management fee and a 20% incentive fee and a $250,000 minimum investment requirement.
Prior to Merrill Lynch, Preston also held senior positions with other large financial firms including Paine Webber, L.F. Rothschild, Union Bank of California and Nomura.
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...