Andrey Hicks Scams $1.7 million with Fake Hedge Fund (Barrons)
Fifty-four years after Sputnik, the American public finally gets the message: Math is way cool. For those of us under six-foot-seven, who can't run the 40-yard dash in 4.5 seconds, hit a curve ball or avoid the water hazard, it's the latest path to quick riches. We've all noticed that mathematicians are raking in millions on Wall Street by writing algorithmic instructions for their high-frequency-trading computers.Martin Coward to Launch Hedge Fund to Rival Ikos (FT)
Martin Coward, the multimillionaire co-founder of the hedge fund Ikos
, is preparing to launch his own new fund, in a move likely to aggravate further tensions between him and his estranged wife, Elena Ambrosiadou
. The fund will launch next year, according to a third party unconnected to Mr Coward, and like Ikos will use highly complex computer programmes designed by Mr Coward to trade in the world’s markets at ultra high speeds.
Bill Ackman Says Pick a Company You Can Own Forever (BigThink)
Hedge Funds Bet on Soccer Player Transfer Markets (Bloomberg) Warren Buffett
is fond of saying that the first rule of investing is never lose money and rule number two is never forget rule number one. William Ackman
takes this lesson as a point of departure for his Floating University lecture entitled "If You're So Smart, Why Aren't You Rich?" Ackman asks how can you avoid loses and earn an attractive return over time? Ackman's answer is that you don't want to be jumping from one company to the next. Instead, Ackman says, pick a company that you can own forever. In other words, if the stock market were to close for 10 years, you'd be perfectly happy with this investment. Two examples of these types of companies that Ackman offers are Coca Cola
. These are companies, according to Ackman, are easy to understand, they're not complicated, have long-term track records, demonstrate an attractive profit, and can grow over time.
Hedge funds are making bets on the soccer player transfer markets in Spain, Portugal and Turkey, clashing with fans who say they are profiting from teams’ financial woes. Quality Sports Investments Ltd., based on the island of Jersey in the English Channel, and London-based Doyen Capital Partners LLP are working with teams including Atletico Madrid, Sporting Lisbon and Turkey’s Besiktas to bankroll signings in return for a share of any profit when the players are traded to another club. The investments -- which yielded returns of as much as 64 percent per player for a fund managed by Banco Espirito Santo SA -- are taking hold in Spain as banks refuse to extend credit to clubs, according to former league vice-president Javier Tebas. The trend is undercutting club’s ability to make money from player sales, one of their main sources of income, said Jose Luis Sanchez, head of “Senales de Humo,” an Atletico fan club.
Many Hedge Funds will have to Start Reporting to SEC June 15, 2012 (Businessweek)
The U.S. Securities and Exchange Commission
responded to objections from hedge funds and private- equity funds by dialing back demands in its new rule requiring fund advisers to report internal information to regulators. The commission approved its final rule in a unanimous vote today, easing the thresholds for defining which large funds will have to report the most information to regulators. The final rule, which requires some funds to begin reporting as soon as next year, also allows private-equity funds to report less often than initially proposed.
Hedge Fund Firms Bring Incremental Value in the Alternative UCITS Space (HedgeWeek)
In spite of having registered significant investor appetite in recent years, empirical research on Alternative UCITS
is a rare commodity. The major contribution of a new Lyxor research report is therefore to give investors a precise measure of the main characteristics of publicly regulated Alternative UCITS vehicles in comparison to traditional hedge funds, says Stefan Keller of Lyxor Asset Management. For the first time, a comprehensive set of data has been analysed on a period from June 2004 to May 2011. The results shed light on what really matters for investors: regulation, manager skills and risk.
Hedge funds and large investors continued to rebuild long positions through futures and options with the latest data from the CFTC showing an 8.7 percent increase to 1,077,000 lots on the 25 commodities we track. Speculators have returned with a vengeance over the last three weeks after having almost halved their long exposure during the September and early October rout. Long positions were rebuilt across all sectors as the dollar continued to weaken ahead and after the EU leaders announced new initiatives to contain the debt crisis.
TMX Group Supports Maple Group's $3.8 Billion Bid (NYTimes)
TMX Group, the owner of the Toronto Stock Exchange, on Sunday threw its backing behind a $3.8 billion buyout deal from Maple Group, a consortium of Canadian financial players and pension funds. Under the terms of the deal first announced in June, Maple Group will offer $50 a share for TMX Group, a 15 percent premium to the company’s closing price on Oct. 28.
The $37.4 billion Illinois Teachers' Retirement System, Springfield, approved tactical plans that will add hundreds of millions — and new money managers — to the hedge fund and real return portfolios next year you had 2012; I changed to next year but when I read the next graf, they already funded some of it, so next year isn't really accurate, plus the term “will add” isn't wholly accurate, either, since some of it already happened.