Here is Jim Chanos' investment idea at the Sohn Investment Conference. » Read More
Our quote of the day comes from the late stage and film actress Tallulah Bankhead: "If I had my life to live again, I'd make the same mistakes, only sooner." There's no mistaking OPEC's latest move--as the oil organization seems to have agreed to cut production by some 500,000 barrels a day in February.
News out just moments ago that the Securities and Exchange Commission is raising the minimum requirements for so-called "accredited investors." It gets bumped up to $2.5m from $1m, where it had stood unchanged since 1982.
Regulators voted on a proposal that would raise the hurdle investors must meet in order to enter the fast-growing world of hedge funds.
We have more opinions on the regulation of hedge funds. Tomorrow (Wednesday) the S.E.C. meets to consider new rules for hedge funds--which S.E.C. Chairman Christopher Cox calls "risky investments that are not for mom and pop." This year's Amaranth meltdown would seem to support that view (Amaranth lost $6.5 billion in one month in 2006.
In an earlier post we talked about the issue of hedge fund returns vs. index funds. That's one battle for the massive hedge fund industry--but there's another that's maybe more important: The issue of transparency. Hedge funds might not be publicly traded, but the U.S. Securities and Exchange Commission requires that money managers overseeing more than $100 million disclose their holdings...
You should expect to hear more calls for greater regulation of hedge funds, and watch out for another wave of big buyouts by private equity groups in the coming year.
Goldman Sach's $10 billion dollar Global Alpha Fund--a 40% gainer last year--is down almost 11% this year while the stock market is on a bull run. This year on average--the so-called smart money is underperforming the broad averages. This begs the question--can hedge funds deliver above market returns or is the market simply too efficient?
According to a Mercer Investment Consulting study - 1/3 of pension funds invest in hedge funds. But are they safe investments? On today’s Street Signs Erin Burnett put that question to Damon Silvers, Associate General Counsel with the AFL-CIO and Cynthia Steer, Managing Director and Chief Research Strategist with CRA Rogers Casey.
Hedge funds are heading into a rough few weeks. Many funds are looking at some pretty average returns this year--and if that's not bad enough--the industry faces U.S. Congressional hearings starting tomorrow on regulations and insider trading. William Galvin is Secretary of the Commonwealth of Massachusetts...
Stay tuned for "Street Signs" today when we cover the story of global hedge funds now controlling some $2 trillion. The guests are Richard Blumenthal--Connecticut's Attorney General and David Friedland who is President of the Hedge Fund Association.
At Wednesday's CNBC-sponsored Delivering Alpha investor conference in New York, a wide swath of experts will converge to talk about how to survive and thrive in such a difficult environment.
Many of Paulson & Co.’s investors hung with it last year despite an annus horribilis in which the company’s flagship hedge fund lost 35 percent. But with returns continuing to sag amid a rising equities market, some of those investors are now jumping ship.
Wary of geopolitical tumult and eager for their first quiet August in years, some hedge-fund managers scaled back the size and scope of their bets in recent weeks, a pullback that was reflected, say traders, in muted monthly returns.
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