Tuesday, 30 September 2014
Last updated 1 hour ago
Apr 23 2009 | 7:43am ET
Fresh off a weekend stint in jail for a drunk driving conviction, a former New York congressman has joined a controversial 'managed futures' fund.
Vito Fossella, a Republican who represented Staten Island and part of Brooklyn in Congress for 12 years, has joined Superfund Investment Group, the Staten Island Advance reports. It is unclear what, exactly, Fossella is doing for the firm’s New York office, but the Advance says he has been seen recently on Capitol Hill, leading the newspaper to speculate that “he could be putting his political contacts to work on behalf of the firm.”
Fossella did not seek reelection to the House of Representatives last year. He was arrested for drunk driving in Virginia earlier last year, leading to a revelation that he had fathered a child during an extramarital affair.
Superfund, for its part, is no stranger to controversy. The firm, which calls itself a managed futures shop, has sought to make hedge funds available to the masses. Firm founder Christian Baha, a former Austrian police officer, has starred in television commercials for the firm’s products. However, while he tossed around the word hedge fund in his initial marketing campaigns in the states, he has since touted the funds as 'managed futures' funds so as to not raise the ire of the Securities and Exchange Commission, which forbids marketing hedge funds to unqualified investors.
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...