Wednesday, 24 September 2014
Last updated 14 hours ago
Nov 2 2006 | 11:46am ET
New York-based Sandell Asset Management is sweating after receiving a Wells notice targeting the firm and several top executives. According to a letter sent to investors, the $7 billion New York hedge fund stands accused of naked short-selling of Louisiana bank Hibernia Corp.’s shares. The alleged short-sales occurred in the aftermath of Hurricane Katrina.
The letter said that the Securities and Exchange Commission “intends to recommend the commencement of proceedings” against Sandell and several executives, reportedly including Sandell founder Thomas Sandell, though the letter did not identify any individuals.
Sandell, in the letter, said it “[disputes] several of the commission’s assertions,” but that it is “continuing to work with the staff the resolve this matter.”
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.