Wednesday, 22 October 2014
Last updated 16 hours ago
Sep 29 2009 | 2:03pm ET
Those celebrating the impending merger between CIT Group and IndyMac Bank, spearheaded by hedge fund guru John Paulson, might want to put away the bubbly.
Just hours after the New York Post reported that the Paulson & Co. chief was mulling a plan to merge the troubled lender with the bank he bought as part of a consortium of hedge funds and private equity firms, the anonymous denials started piling up fast and furious.
“There is absolutely no relation between IndyMac and CIT,” one unnamed source told Reuters. “Linking the two companies is just wrong.”
Business Insider’s source called the alleged talks “pure nonsense.”
The Post, citing its own unnamed sources, called the potential merger between CIT, which remains in hot water despite a multi-billion dollar hedge fund-backed bailout, and IndyMac, which is now called OneWest Bank, one of several options for saving CIT. The tabloid did say that no formal discussions between the two institutions had occurred, but that the plan had been kicked around by some creditors, including Paulson.
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 ...