Tuesday, 21 October 2014
Last updated 16 min ago
Dec 18 2008 | 2:58am ET
The latest victim of Bernard Madoff’s alleged Ponzi scheme is a Web site. Banco Santander, Spain’s biggest bank, has taken down the homepage of its Optimal Investment Services business, after the hedge fund group told investors it had lost more than one-third of its assets in the Madoff scandal.
Whereas earlier this week the Optimal Web site trumpeted the firm’s “intensive due diligence,” yesterday it merely said, “New website to be launched soon.”
Optimal, which managed US$10 billion in assets at the end of last year, has $3.5 billion of exposure to Bernard L. Madoff Investment Securities. The firm invested assets of its Optimal Strategic US Equity Fund with Madoff.
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 ...