March 10- William Ackman's hedge fund Pershing Square Capital Management LP said it would unveil on Tuesday details about Herbalife Ltd's violations in China as the activist investor sharpened his attack against the nutritional products company.» Read More
When Carlyle speaks, people listen. At least, people who are interested in investing or in attempting to replicate the private equity giant's returns. Bill Conway, founding partner and managing director at Carlyle, spoke yesterday afternoon at the Dow Jones Private Equity Analyst Outlook Conference in New York City. And looking at the faces in the audience, people really listened. For those of you who were not fortunate enough to be there, and listen to the excellent discussion led by Wall Street Journal Special Correspondent Henny Sender, here's what Conway had to say about some of the hottest topics in private equity today ...
Just 27% of households with a net worth of $25 million or more, excluding their primary residence, invested in hedge funds in 2006, down from 38% in 2005, the survey by Chicago-based consulting firm Spectrem Group showed.
Does it seem as if the price of oil has been unusually volatile lately? Today, it rose nearly 2% , while earlier in the month it dropped to 19-month lows. Throughout history, speculators have moved the commodities market, but is there more going on now than meets the eye? On today’s “Power Lunch” CNBC’s Sue Herera found out....
Tomorrow is the deadline for hedge funds and brokers to comply with SEC rules defining the use of soft dollars. The new rules disqualify spending on extravagant incentives such as front row seats at the Super Bowl. In addition, payments for meals, travel, rent and other perks will also be considered abuses. Critics say this is just the SEC's backdoor attempt to regulate hedge funds.
When the price of natural gas plummeted last Summer, hedge fund Amaranth took a nose dive. Now some investors are worried the same could happen with hedge funds that invested heavily in oil. "In the short term, market sentiment is overwhelmingly bearish and it's possible for (the) price to go lower than $50 (a barrel),” said Victor Shum, an analyst with Purvin & Gertz.
They were the kings of the power and money world in 2006. We are talking about private equity and the billions of dollars of deals these buyout firms put together. So, what lies ahead for private equity? The Wall Street Journal's Henny Sender found out, during her one-on-one interview with David Rubenstein, Co-Founder of the Carlyle Group.
It may be harder now for the small investor to get into hedge funds, but will that dampen their appeal in 2007? CNBC asked Wall Street Journal Reporter Gregory Zuckerman what he expects from hedge fund investments, in the year ahead. Zuckerman said that overall hedge funds under performed by a couple of percentage points and that many (money managers) were too bearish on the stock market.
Stock markets around the world opened the New Year on a note of optimism. European shares are close to six year highs this morning, and Hong Kong closed just under its all time high. U.S. stock exchanges are closed in honor of the national day of mourning for President Gerald Ford. Services for Ford are held this morning. Our Hampton Pearson will be there, and John Harwood will discuss President Ford's legacy.
It's been a pretty good year for Wall Street--from a bumper crop of buyouts to record-breaking gains. But there were some stumbling blocks--most notably in the commodities markets. The folks at Trader Monthly Magazine have compiled a list of the biggest--most brazen--and jaw dropping trades of the past 12 months. Randall Lane is Editor-in-Chief of Trader Monthly. He was on "Power Lunch" with the list.
Goldman Sachs Group, said it raised more than $6.5 billion for a fund that will invest in toll roads, airports and ports as well as regulated gas, water and electrical utilities.
Roughly $110 billion flowed to the more than 9,200 hedge funds in 2006, according Chicago-based firm Hedge Fund Research. Senior managing director of Channel Capital Group George Lucaci was on “Closing Bell,” explaining which funds made the most money this year. He also highlighted what to look for in 2007.
The flow of corporate news is likely to start waning today ahead of what could be a quiet session tomorrow. Making headlines today will be the Philadelphia Fed when its survey is released at noon. Our Steve Liesman will cover all the news from Philly on Power Lunch. Other data this morning includes leading economic indicators and final Q3 GDP but a big focus in our coverage will be the third and final CNBC holiday central survey. Liesman will dissect the findings and tell us what the surprising latest survey says about the consumer, economy and retailers this holiday season.
U.S. Treasury Secretary Henry Paulson signaled that he is open to Germany's idea of having the Group of Eight discuss ways of making hedge funds more transparent, a Finance Ministry official said Thursday.
There's more to the world of private equity than the giants -- the Bains, Carlyles, KKRs of the world. True, more than 50% of all funds raised in 2006 were raised by the top 20 firms. But, there is a vibrant layer of firms doing fundraising below that top 20.
Hedge funds and mutual funds have poured big money into emerging markets. Which funds have the biggest exposure, if the “Thai Financial Flu” spreads? CNBC’s Melissa Lee investigated – and revealed her findings on today’s “Power Lunch.” Certainly with emerging markets on such a run recently, this is an area where many investors have seen increasing exposure.
In the world of alternative investments, they use alternative methods of compensation. Base and bonus don't accurately represent what these folks are making. Hedge fund pay, the focus of my Power & Money report today, is the perfect example. The average pay for a CEO was $4.5 million, according to Infovest. The average pay for a portfolio manager: $2.5 million. But what these numbers don't include is the fattest part of the paycheck...
Average investors have never been able to invest the way the “Big Wigs” do on Wall Street. This morning's Wall Street Journal Report says, that now it's a lot easier for the little guy to gain access to private money investing, such as private equity and hedge funds. On today’s “Morning Call” CNBC’s Becky Quick took a closer look at the risks with Wall Street Journal Senior Special Writer, Henny Sender.
Greg Zuckerman of Dow Jones’ Hedge Fund Trades newsletter was on “Morning Call” today as part of our regular series “Power & Money.” He said the industry took a hit from a poor-performing biotech firm. But there’s something interesting going on in the distressed debt investing market.
In an exclusive interview with CNBC, SEC Chairman Christopher Cox said the agency is in its best shape ever to oversee a variety of regulatory issues simultaneously, whether it's options backdating or keeping a watchful eye on the derivatives market.
Yesterday, the U.S. Securities and Exchange Commission raised the net worth requirement for investing in hedge funds to $2.5 million from $1 million. If you saw SEC Chairman Christopher Cox on cnbc.com this morning, you’d know that the rule was made to keep unsophisticated investors out of an incredibly complex industry. Now, the focus is on protecting retail investors....
In a few years the rate of money flow and inflation will start to catch up to each other, causing a recession, analysis from Dick Bove said.
Happy Monday. Stock market futures are looking kind of flat. "Flat" is a word we never like to use.
Friday's nonfarm payrolls report easily beat Wall Street expectations but may not be quite what Wall Street wanted.