Hedge Funds Capitalizing on Beaten Down Mortgage Market
New York (HedgeCo.Net) – Foreclosed properties present an opportunity, to some, of finding an otherwise unattainable home at a deeply discounted rate. For hedge funds, foreclosures could mean massive...
View ArticleMerrill, Citigroup to Buy Back $30 Billion in ARS
New York (HedgeCo.Net) – Merrill Lynch and Citigroup, two banks that have already written down billions in losses, will buy back $30 billion in auction-rate securities as part of an agreement with...
View ArticleUBS Writes Down Another Subprime-Related $6 Billion
New York (HedgeCo.Net) – Writedowns from major banks have reached the $500 billion mark, only one year after the subprime fallout forced mortgage-backed securities to plummet in value. And it’s not...
View ArticleCuomo Pressing Major Banks in ARS Probe
New York (HedgeCo.Net) – Less than one week after UBS and Citigroup were called upon to buy back over $30 billion in bad auction-rate securities, New York Attorney General Andrew Cuomo is forcing...
View ArticleSwing back to bank stocks is overdone, says Merrill Lynch
Times Online – The fashionable investment tactic of the past month – buying bank stocks while selling energy companies – could already have gone too far, Merrill Lynch, the financial management group,...
View ArticleLehman May Put a Prized Unit on the Block
The Ledger – Lehman Brothers, the troubled investment bank, is considering the sale of all or part of its prized money management division to private equity firms to raise billions of dollars of...
View ArticleTemasek may invest more in Western banks
Reuters – Singapore sovereign wealth fund Temasek Holdings, which has pumped billions of dollars into ailing lenders such as Merrill Lynch, said it may invest more in Western banks if the opportunity...
View ArticleHedge Fund Fires Back at Delphi, Seeks Damages
New York (HedgeCo.Net) – As if trying to secure $6.1 billion in financing to exit bankruptcy isn’t enough of a headache, now Delphi has to deal with counterclaims by hedge fund Appaloosa Management who...
View ArticleMerrill Pushing Bad Debt for Petty Prices
New York (HedgeCo.Net) – Merrill Lynch is still hoping to strike a deal in which Korea Asset Management Corp. would purchase a significant amount of their bad debt. Talks have been stagnant because of...
View ArticleHedge Fund Man Group Hires New Middle East CEO
West Palm Beach (HedgeCo.net) – The CEO of Man Group, Peter Clarke, announced the appointment of the new CEO of the Middle East arm as Patrick Merville, to take effect from 1 October, following the...
View ArticleLehman, UBS Among Firms Involved in Tax Dodge, U.S. Probe Says
Bloomberg – Lehman Brothers Holdings Inc., UBS AG and Merrill Lynch & Co. are among Wall Street firms that concocted derivatives and stock-loan deals to help offshore hedge funds dodge hundreds of...
View ArticleProbe Says: IRS, Major Banks Helped Offshore Hedge Funds Avoid Billions in Taxes
New York (HedgeCo.Net) – A year-long probe launched by a U.S. Senate Committee has discovered that numerous Wall Street banks have assisted offshore hedge funds in evading millions of dollars in U.S....
View ArticleLehman Declares Largest Bankruptcy Filing in History
New York (HedgeCo.Net) – Despite valiant efforts to find investors and stay afloat the credit crisis, Lehman Brothers Holdings Inc. is now at the center of the biggest bankruptcy filing in history. The...
View ArticleOil loses appeal as hedge against risk
Globe and Mail – Once viewed as a safe haven, crude oil has lost its lustre as investors bet that the crisis in financial markets will hurt an already weakened global economy and drive down petroleum...
View ArticleHedge fund Citadel hires two from Merrill Lynch
Reuters – Hedge fund firm Citadel Investment Group said on Tuesday it had hired two senior sales executives from Merrill Lynch, the investment bank that is being sold to Bank of America for $50...
View ArticleEquity and Hedge Funds may take Wall Street’s Place
New York Post – With just two large investment banks remaining – Morgan Stanley and Goldman Sachs – questions are growing over who might step into the suddenly emptier playing field. Many Wall Street...
View ArticleHopes and fears mix at hedge fund conference
Reuters UK – "Does anyone know what is happening with the markets?" former U.S. Treasury Secretary Lawrence Summers asked after stepping out of his car and into a hedge fund industry conference in...
View ArticleFed Reverses Stance on AIG, Provides Rescue
New York (HedgeCo.Net) – Just one day after reaffirming their stance they would not rescue America International Group Inc., the Fed has agreed to lend the collapsing insurer $85 billion in exchange...
View ArticleTrailblazer Fink returns to head £200m hedge fund
The Independent – Stanley Fink, the so-called godfather of UK hedge funds, has made a dramatic return to the industry after retiring from Man Group, the largest alternatives manager in the world, only...
View ArticleHedge funds batten down the hatches in turbulence
Reuters – Hedge funds are keeping borrowings and risk low and seeking sanctuary in safe-haven assets during the current market turbulence, but some are beginning to see opportunities to make attractive...
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