Friday, 19 September 2014
Last updated 3 hours ago
Dec 5 2006 | 10:00am ET
Florian Homm, co-founder of the Alternative Investment Market-listed fund of hedge funds manager Absolute Capital Management, is back in business just a few weeks after being shot by a gunman while traveling in Venezuela. In a letter to investors sent out today, Homm praised his investment team’s efforts during his absence while assuring investors that his traumatic experience served to motivated him even further.
“As in many moments of diversity and challenge certain positives emerge,” Homm wrote. “In particular, I am very proud of the investment team at Absolute Capital Management, which mastered this disruption in the most exemplary manner. Indeed, in spite of a sharp 5% rise and sharp 5% fall in equity markets over this short period (not as a result of my incident followed by recovery!), all of our funds picked up absolute performance during this period of high volatility.”
“While I am currently the senior event driven manager for about 30% of our group assets, our event-driven team, including our Zurich partners, managed to perform perfectly well without me during this phase,” he continued. “Our second line managers passed this stress test with flying colors and are clearly prepared to take on more responsibility. A radical way to stress the team is how my wife put it!”
“However, please be assured that post this incident I am even more motivated than before,” he wrote. “The value of my having both the physical and mental strength post this incident has made me realize how important ‘being in the ring’ is.”
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.