Tuesday, 23 September 2014
Last updated 13 hours ago
Feb 18 2009 | 1:02am ET
BP Capital Management lost some 97% of its value in the fourth quarter as it sold off most of its holdings and met investor redemptions, according to a regulatory filing.
The Texas hedge fund, run by billionaire oilman T. Boone Pickens, has just nine energy companies left in its portfolio. In a Nov. 14 filing, it said it owned 26.
The fund is now worth just $40 million, down from $1.29 billion as of Sept. 30.
In December, investors pulled some 65% of the fund’s assets.
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.