Hedge Fund News: Julian Robertson, Timothy Peterson, Legg Mason Inc.

Page 1 of 4

TIGER MANAGEMENTGuilty Plea for One of Julian Robertson’s ‘Tiger Cub’ Funds (NYTimes)
Bill Hwang was once a star at Tiger Management, the gilded hedge fund empire run by the billionaire investor Julian Robertson. In 1995, as an ambitious young stock salesman, Mr. Hwang won Tiger’s annual award given to the person outside of the fund who had made the greatest contribution to its success. Tiger soon hired Mr. Hwang, and after he earned millions of dollars for himself and the fund trading in Asian markets, Mr. Robertson gave him the money to start Tiger Asia, which at its peak managed more than $5 billion.

Investors and hedge fund managers must come to a common understanding about what is possible (Opalesque)
According to Dr. Sassan Zaker, head of Alternative Investments at the CHF2bn Julius Baer Pension Fund, the key to investing is simplification. This summer at the GAIM conference, Zaker reportedly called for fundamental changes to the way institutional investors approach hedge fund manager selection and suggested pooling with other pension funds to create a fund of hedge funds. A lot of people are looking for new ways of defining risk and returns for various asset classes and hedge funds nowadays, he said during Terrapinn’s Hedge Funds World conference in Zurich last month.

Some hedge funds dump their bets against France (III)
Some hedge funds are calling it quits on one of their biggest trades of the year – shorting French government bonds. Earlier this year many in London’s hedge fund industry were lining up bets against the euro zone’s second-largest economy, reckoning the May election of President Francois Hollande, a socialist, would accelerate the country’s deteriorating economic outlook. But the trade has not worked out as planned. France’s long-term borrowing costs fell to a record low at auction last week as investors sought out safe havens. So some funds are now cutting their losses or changing tactics, for instance betting against French equities instead.

Asset Allocation 101 (ResourceInvestor)
There is no single answer to asset allocation, and it is every man for himself. One thing that I can tell you with certainty is how a hedge fund approaches the issue. The biggest hedge funds run thousands of positions across countries, industries, sectors, and currencies that are dynamically hedged on a real time basis. To monitor this they need a global 24-hour multilingual trading desk backed by the latest mainframe computers using custom designed, cutting edge software. They have gobs of bandwidth too, as a nanosecond can make the difference between winning and losing on a trade. You can put together something like this for, oh, maybe $100 million, give or take a few dozen million. It’s all enough to send an MIT math PhD’s head spinning.

Fraudster to hedgies: ‘Sorry’ (NYPost)
He’s sorry all right. Sam Israel, the hedge-fund manager convicted of running a $450 million Ponzi scheme who faked his own suicide to avoid the slammer, apologized for dragging the industry through the mud. “I am deeply ashamed to have disgraced you all by proxy,” Israel told roughly 150 members of the New York Hedge Fund Roundtable in a letter last week. “I am sorry to have tarnished the business I loved and lived for my entire life.”

Swiss Fund Moves, Swaps Rule Testimony, GDF (BusinessWeek)
Swiss hedge fund managers are considering relocating to neighboring Liechtenstein to sidestep tougher regulations being introduced in Switzerland and gain access to the European Union, PricewaterhouseCoopers LLP said. About 47 percent of 92 firms surveyed, including managers of hedge funds, private equity and real estate, would pick EU member Liechtenstein over being supervised by the Bern-based Swiss Financial Market Supervisory Authority, PwC said. The move would allow them earlier access to EU markets under a new regulatory regime for alternative investment managers.

Page 1 of 4
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!