Archive for August, 2011

Lasry Winds Down Asia Fund

August 31, 2011

Distressed debt and equity specialist Avenue Capital is slowly selling the assets of a long-running Asia fund (more…)

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Will Small Firms Survive?

August 29, 2011

Chidem Kurdas

Costs are up. Allocations are slow. What’s an emerging manager to do? The talk was about pressures and priorities at a conference organized by the New York State Society of Certified Public Accountants. (more…)

Apple Trades Vary

August 25, 2011

Chidem Kurdas

DE Shaw is among the hedge funds with large holdings of Apple stock.  The change of  guard inpired some fast trades. (more…)

ETFs Supplement HF Investments

August 24, 2011

Funds of funds are using exchange-traded products to fill the gaps in their portfolios. (more…)

Cerberus Chief Gets Grifols Stock

August 23, 2011

Having sold an interest in Talecris Biotherapeutics to Grifols SA, a Spanish company with worldwide biopharmaceutical and other medical businesses, Cerberus Capital (more…)

Madoff Ruling: A Question

August 18, 2011

Chidem Kurdas

An appeals court upheld the Madoff trustee’s decision that the former clients of the defunct firm have a claim only to the capital they originally invested, not the profits Madoff fraudulently reported on their accounts.  This has precedent from past Ponzi schemes, where investors who took out more than their capital had to return the difference. It’s a reasonable principle not to allow fake profits, though a hardship on people who relied on them, like New York Mets owners Fred Wilpon and Saul Katz. The supposed gains, after all, came from other investors’ money.

But there’s something else going on. (more…)

BlackRock Expands Product Lineup

August 16, 2011

Chidem Kurdas

The Alternative Advisors  arm of BlackRock will be managing a new fund of funds for the mass affluent market. The product targets an equity-like return but with less volatility and relatively low correlation to equities.  (more…)

3rd Annual Global Derivatives Forum Sept 8 NYC

August 15, 2011

Capital Link’s  3rd Annual Global Derivatives Forum: 

Commodities • Energy • Freight

Thursday, September 8, 2011 

Metropolitan Club,  New York City   Register Now Online

 

Collateralized Loans Attractive, Recession Risk

August 11, 2011

There was a time when people recoiled from collateralized anything, after the real estate crash hit collateralized pools of mortgage-backed securities. Though no comparable disaster befell pools of loans, collateralized  loan obligations were nevertheless affected by fear of toxic assets. (more…)

Madoff Trustee and the 1,001 Lawsuits

August 9, 2011

Chidem Kurdas

In one particular respect, government-appointed bankruptcy trustees resemble Scheherazade of the 1,001 Arabian Nights. She had a secure tenure with the Sultan as long as she kept spinning the fairy tales. (more…)