PICKENS: I Think Mitt Romney Is Thinking About Running Again (BusinessInsider)
Last Friday morning, billionaire energy tycoon T. Boone Pickens was in a meeting with another politically active hedge fund manager in New York City. The meeting between the two included a broad discussion on the Republican presidential field for 2016. Pickens told Business Insider later that morning that his colleague suggested there was “no prospect” 2012 Republican nominee Mitt Romney would run again. However, Pickens said he believes Romney is considering it since his past policy positions seem prescient.
Goldman-Backed Hedge Fund Up 9% Marks Macro Rebound (BusinessWeek)
Todd Edgar, like most macro hedge-fund managers, couldn’t make money this year. Then came September. Edgar, whose Atreaus Capital LP specializes in currencies and commodities, had been betting since June that the price of soybeans would drop because of favorable weather conditions that promised a bumper crop. On Sept. 11, the U.S. Department of Agriculture reported record harvests and expanding global inventories. Bean prices tumbled 8 percent through the end of the month. That and a larger trade on a stronger U.S. dollar turned a poor year into a good one, according to an investor.
The JOBS Act at Year One: A Changing Hedge Fund Communications Landscape (HedgeCo)
Thomas Walek, President of communications and marketing firm Peppercomm, has put out a new whitepaper on the Jumpstart Our Business Startups Act or JOBS Act, a law intended to encourage funding of United States businesses by easing various securities regulations. “The private world of hedge funds is looking more like Madison Avenue.” Walek says. Hedge funds today are everywhere – in daily headlines, social media, public web sites, live TV coverage, and even highly visible Las Vegas bashes. They are also increasingly in the portfolios of institutional and retail investors.
GLG Said to Pick Mason to Manage European Equity Hedge Fund (BusinessWeek)
GLG Partners picked Neil Mason, a former executive at Harvard University’s endowment and BlueCrest Capital Management LLP, to help run a European equities hedge fund, a person briefed on the matter said. Mason will manage the $3 billion long-short fund with Pierre Lagrange and Simon Savage after Darren Hodges resigned, said the person, who asked not to be identified because the move hasn’t been made public. Hodges, who has been at the firm in London since 2005, is still serving his notice period, the person said. A spokeswoman for GLG and Hodges declined to comment.
Weavering hedge fund founder pleads not guilty in London fraud trial (Reuters)
The founder of one of London’s oldest hedge funds, whose $600 million Weavering business collapsed in 2009, formally pleaded not guilty to all 16 fraud-related charges in his trial at a London court on Tuesday. Magnus Peterson, a Swedish-born hedge fund manager, faces allegations of fraudulent trading, fraud by misrepresentation, forgery, abuse of position, false representation, furnishing false information and obtaining a money transfer by deception between 2003 and 2009.
Pisani: Tenuous rally (CNBC)