Hedge Funds
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NEW YORK, May 23- Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the matter. A lawyer for SAC Capital did not respond to a request for comment.
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NEW YORK, May 23- Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the matter. A lawyer for SAC Capital did not respond to a request for comment.
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NEW YORK, May 23- Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and agents from the Federal Bureau of Investigation in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder Steven A. Cohen, according to sources familiar with the matter.
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NEW YORK, May 23- U.S. prosecutors are seeking testimony from three senior executives of the $15 billion hedge fund SAC Capital Advisors, the Wall Street Journal reported on Thursday. Attorney's office for the Southern District of New York issued subpoenas to SAC's president, chief compliance officer and head of trading, according to the Journal's report.
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The gargantuan stimulus Japan is pumping into its economy will have to be even larger to achieve the desired results, said Hayman Capital founder Kyle Bass.
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Goldman Sachs revealed the stocks most popular with the nearly $2 trillion hedge fund industry. The so-called VIP list has outperformed the S&P 500 this year.
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The world's largest hedge funds have bolstered their equity holding so far this year, adding more to Boeing than any other stock, according to research firm FactSet.
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Simon Waxley, senior portfolio management at Whitebox Advisors, tells CNBC that Europe is in a dislocation at the moment and they are trying to exploit moves around this.
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Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder.
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Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder.
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BlackRock has bought private-equity real estate fund MGPA in a deal that boosts its presence in Asia and continental Europe.
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Will Duff Gordon, research director at Markit, tells CNBC that the rising tide and record bull market mean that being a short seller is 'a nightmare right now'.
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NEW YORK, May 20- The decision by U.S. prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads.
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SAC Capital is under investigation for insider trading, and its founder Steve Cohen has received a subpoena to testify about his company before a grand jury, reports CNBC's Kate Kelly.
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Among the stock activity stories for Monday, May 20, from AP Business News:. _ Shares of WPX Energy Inc. soared to an all-time high as a hedge fund disclosed a minority stake in the oil and gas company.
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SAC Capital's Steve Cohen is reportedly being subpoenaed to testify before a grand jury, and JPMorgan's Jamie Dimon is facing a crucial vote on his Chairman and CEO roles, with CNBC's Kate Kelly and Kayla Tausche.
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Settlement talks between Steve Cohen's hedge fund SAC Capital and the government have broken down, according to sources.
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CNBC's Kate Kelly has the latest details on alleged insider trading at the hedge fund.
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Steven A. Cohen has received a subpoena to testify before a grand jury in the government's insider trading investigation into his hedge fund, the NYT reports.
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High fees plus poor performance: The formula is pretty easy to determine what makes a bad mutual fund. Some, though, are worse than others.
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*Money managers pull $1.4 bln from COMEX gold in May 14 week. Money managers, including hedge funds, pulled $1.4 billion from the U.S. gold futures market for the week ended May 14 by trimming their net long positions in the metal, according to Reuters calculations of data released by the Commodity Futures Trading Commission.
