Hedge fund equity titans come unstuck in Europe (eFinancialNews)
Long/short European equities funds run by Odey Asset Management, Pelham Capital and GLG Partners – part of Man Group – all found themselves in negative territory this summer, while others are struggling to repeat the successes of last year. Odey Asset Management’s $1.65 billion European fund – run by founder Crispin Odey – was down 12.9% by mid-August, having returned 25.8% in 2013 and 30.7% in 2012, according to figures seen by Financial News. Pelham Capital, set up by former Lansdowne Capital partner Ross Turner, saw its $2.49 billion long/short fund down nearly 3% at the end of July…
The Unfiltered Peter Thiel Talks Startups, The CIA And Female Founders (ReadWrite)
Peter Thiel, at turns smug, acerbic and brilliant, has opinions on most everything. I first met him a few weeks before I graduated from law school and after he had pulled off the sale of PayPal to eBay Inc (NASDAQ:EBAY) for $1.5 billion. Why did he bother to accept a random lunch invitation from a nobody? …Now a successful hedge fund operator and angel investor, Thiel regularly gets asked his opinion on most everything. And he doesn’t hold back. Most recently, he took to Reddit to answer questions on everything from the CIA’s role in Palantir to Facebook Inc (NASDAQ:FB)‘s effect on the global advertising market. Here are some of the best moments.
How to make money from hedge funds like George Soros (TheNational)
Hedge fund managers retain an almost mythic status in the investment world. They can move markets, break central banks and make billions of dollars in the process. Who wouldn’t want to invest like a hedge fund manager? Like every myth, however, this is only partly based in reality. Even stars such as George Soros and John Paulson do not always get it right. We tend to remember their successes and ignore their failures. And for every stellar success, there are plenty of failures. In 2008, during the global crisis, many funds banned withdrawals as panicky investors headed for the exits.
Greywolf Keeps Gains Going, Stays Net Short (InstitutionalInvestorsAlpha)
Greywolf Capital Management, a Purchase, New York-based firm founded by former Goldman Sachs Group, Inc. (NYSE:GS) executives Jonathan Savitz and James Gillespie, continues to outperform most hedge funds despite maintaining its net short position. Through August, its Greywolf Capital Overseas Fund had gained 12.6 percent, while its Greywolf Capital Partners II had returned 14.45 percent. This is better than most hedge funds have fared so far this year. Even more remarkable, the two funds are among a very small group of hedge funds that have been net short.
SEC Tightens Regulatory Oversight For Hedge Funds (HedgeCo)
The Securities and Exchange Commission is creating a new office within the Division of Economic and Risk Analysis (DERA) that will coordinate efforts to provide data-driven risk assessment tools and models to support a wide range of SEC activities. Since its creation in 2009, DERA has collaborated with market experts throughout the SEC to develop risk assessment tools. One example, the Aberrational Performance Inquiry, launched in 2009 to proactively identify atypical hedge fund performance, led to eight enforcement actions and is one of the tools used by the Division of Enforcement to assess private funds.