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.
The past couple of years have been rough on experienced traders, not to mention emerging managers. In our annual review of new talent, here are three managers who successfully have ridden out the post-2008 aftershocks still affecting the business and markets.