Tuesday, 21 October 2014
Last updated 9 hours ago
Mar 30 2009 | 1:11am ET
A pair of Goldman Sachs executives are among the few profiting in a big way from the hedge fund investments this year. The firm has bought their stakes in the its hedge fund and private equity businesses for almost $60 million, the New York Post reports.
Jon Winkelreid, Goldman’s retiring co-president, and Gregory Palm, its general counsel, are the big winners. Winkelreid’s golden parachute totals $19.7 million. Palm is now $38.3 million richer.
In recent months, Goldman has found itself bailing out several executives who took a bath in its hedge funds. But Winkelreid and Palm are not the receipients of that corporate welfare: they are among Goldman’s largest individual investors.
Their investments were “purchased at an amount equal to the capital contributions made by” the two, Goldman said in a Securities and Exchange Commission filing. Their hedge fund and private equity investments netted them a payout “based on the estimated net asset value of the funds’ investment portfolio,” or “at a discount to the net asset value.”
The Post reports than another 200 Goldman executives are expected to make similar deals with the firm.
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 ...