Live fast, die young and leave a good looking corpse was the mantra of the old rock and roll crowd. AlphaMetrix, a pool operator that seemed to follow that rule, was brought down by regulators after not paying traders or investors.
On Nov. 12, 2013, the SEC announced it had entered into a Deferred-Prosecution Agreement with Scott Herckis, a former hedge fund administrator, for his role in an allegedly fraudulent scheme involving Heppelwhite Fund, LP, a Connecticut-based hedge fund.
Twice a year, Standard & Poor's releases a “SPIVA Scorecard” -- a report comparing the performance of active managers versus three passive indexes. The S&P 500 large caps, S&P MidCap 400 and S&P SmallCap 600 are pitted against the median returns of active managers.
In a year of record withdrawals from taxable bond funds, no category has been harder hit than the biggest broad market strategies managed by firms from Pacific Investment Management Co. to JPMorgan Chase & Co.
Hedge funds cut bullish gold bets, adding the most short contracts in four weeks, as U.S. economic growth fuels speculation the Federal Reserve will trim stimulus. Holdings across commodities dropped the most since April.
Gross’s Pimco Total Return Fund has shrunk by $37.5 billion since the start of this year, ending last month with $247.9 billion in assets, according to data provided by Pacific Investment Management Co.
Chad Burlet and Bob Otter became friends when Burlet directed the cash/futures convergence trade for Cargill and Otter executed Cargill’s soybean trades on the floor of the CBOT. More than 30 years later that friendship turned into a partnership leading to the creation of Third Street Ag in 2012.