More People Will Soon Have The Opportunity To Share David Einhorn’s Insider-Trading Confusion
by Staff Writer on January 30, 2012
By Matt Levine
While prominent hedge-fund manager David Einhorn was the focus of the latest alleged insider-trading case this week, a supporting actor in the drama belongs to a fraternity of London bankers that also is under increased scrutiny.
Andrew Osborne, until last month a so-called corporate broker in the sprawling London outpost of Bank of America Corp.’s Merrill Lynch investment-banking unit, is alleged to have passed sensitive information to Mr. Einhorn, according to people familiar with the matter.
The U.K.’s Financial Services Authority is planning to fine Mr. Osborne £350,000 pounds ($549,674) for … Read More »
MF Global Client Money Feared Gone
by Staff Writer on January 30, 2012
By The Wall Street Journal
Nearly three months after MF Global Holdings collapsed, officials hunting for an estimated $1.2 billion in missing customer money increasingly believe that much of it might never be recovered, according to people familiar with the investigation.
As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed … Read More »
UBS Alleged Rogue Trader Pleads Not Guilty To All Charges
by Staff Writer on January 30, 2012
By New York Post
Former UBS trader Kweku Adoboli pleaded not guilty Monday to all charges related to alleged unauthorized investments which cost the Swiss banking giant around $2.3 billion in losses.
Adoboli, 31, who was originally scheduled to make a plea last month before changing his legal team, pleaded not guilty to two counts … Read More »
In Punishing Year for Hedge Funds, Biggest One Thrived
by Staff Writer on January 30, 2012
By Azam Ahmed
The world’s biggest hedge fund is also one of the best performers.
Bridgewater Associates, which manages nearly $120 billion, posted returns of 23 percent in 2011 — a year when the average hedge fund portfolio lost 5 percent.
Against the backdrop of fear over European debt and stagnant global growth, the hedge fund, … Read More »
Hedge funds lift Romney’s income
by Staff Writer on January 27, 2012
Though Mitt Romney made his reputation as a private equity investor, his tax returns show the presidential candidate has a large portion of his wealth in an even more aggressive corner of the investment world: hedge funds.
A Globe examination of Romney’s taxes and a prior financial disclosure shows that about one-third of the assets in … Read More »
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