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Nov 14, 2012

Hedge funds shower love on Green Mountain, Yahoo in third quarter

NEW YORK (Reuters) – Patrick McCormack, the manager of hedge fund Tiger Consumer Management, decided to bet against rival David Einhorn in the third quarter.

McCormack’s $2 billion fund jumped into two stocks that Einhorn, founder of $8 billion Greenlight Capital Management and one of a handful of savvy traders who can move markets with his “short” calls, has said publicly he is shorting, or betting against.

Nov 14, 2012

Some hedge funds shower love on Green Mountain, Yahoo in 3rd qtr

NEW YORK, Nov 14 (Reuters) – Patrick McCormack, the manager
of hedge fund Tiger Consumer Management, decided to bet against
rival David Einhorn in the third quarter.

McCormack’s $2 billion fund jumped into two stocks that
Einhorn, founder of $8 billion Greenlight Capital Management and
one of a handful of savvy traders who can move markets with his
“short” calls, has said publicly he is shorting, or betting
against.

Nov 8, 2012

Even as U.S. hedge fund returns lag stock market, pay rises

NEW YORK, Nov 8 (Reuters) – U.S. hedge fund compensation has
risen in 2012 even as the industry has failed to keep pace with
a rising stock market, according to data published on Thursday.

Employees in marketing, compliance and senior investment
roles at money-making funds have gotten the largest pay raises
in 2012, according to the Glocap 2013 Hedge Fund Compensation
Report.

Nov 8, 2012

Even as hedge fund returns lag stock market, pay goes up

NEW YORK (Reuters) – Hedge fund compensation has risen in 2012 even as the industry has failed to keep pace with a rising U.S. stock market, according to data published on Thursday.

Those in marketing, compliance and senior investment roles at money-making funds have experienced the largest pay rise in 2012, according to the Glocap 2013 Hedge Fund Compensation Report.

Nov 7, 2012

Most U.S. hedge funds lost ground in October

NEW YORK, Nov 7 (Reuters) – Hedge funds fell 0.5 percent on
average in October, the industry’s first loss in five months,
hedge fund tracking data published Wednesday showed.

Funds lost money last month as the S&P 500 sank 1.85
percent. Still, the broad gauge of market performance has risen
over 14 percent this year, while hedge funds have gained only
4.3 percent on average, according to Cambridge,
Massachusetts-based Hedge Fund Research.

Nov 6, 2012

Hedge funds down for first time since May but outperform S&P

NEW YORK, Nov 6 (Reuters) – Hedge funds lost money for the
first time since May last month, hurt by exposure to the broader
stock market, which also sank in October.

On average hedge funds fell 0.34 percent in October
according to a group of early-reporting managers to hedge fund
tracking firm eVestment|HFN, while the S&P500 fell 1.85 percent
during the month. Hedge funds are up about 2.8 percent for the
year, while the S&P500 has recorded gains of about 14.3 percent.

Nov 6, 2012

Romney’s hedge-fund backers plan to party on election night

BOSTON/NEW YORK (Reuters) – There is one group of voters Mitt Romney should win in a landslide in Tuesday’s U.S. presidential election: hedge fund managers.

Most of the best-known hedge fund managers threw their support and, more importantly, their dollars behind the Republican presidential hopeful long ago.

Nov 2, 2012

Fortress profit rises, beats Wall Street forecast

By Katya Wachtel

(Reuters) – Fortress Investment Group’s quarterly profit rose roughly 49 percent, beating Wall Street expectations, helped by strong performances in its hedge, credit and private equity funds.

New York-based Fortress, one of a handful of publicly traded alternative asset managers, reported pretax distributable earnings on Friday of $64 million, or 12 cents a dividend-paying share, for the third quarter. That was up from $43 million, or 8 cents a share, a year earlier.

Nov 2, 2012

Upper Manhattan struggles with guest influx after Sandy

NEW YORK (Reuters) – While people living north of New York’s Times Square were largely spared from the rising waters and power outages that slammed Lower Manhattan on Monday, they are now dealing with a different kind of flood: Guests.

Refugees from “Blackout City,” the portion of Manhattan that has been without power since late Monday, have been flowing north into parts of the city where life has been fairly normal this week – at least on the surface.

Oct 25, 2012

US fiscal cliff tops BlackRock’s Fink’s worry list

NEW YORK, Oct 25 (Reuters) – The so-called fiscal cliff of
automatic spending cuts and tax rises set to occur on Jan. 1 if
Congress fails to act before then will be the most important
issue facing the next U.S. president after the election,
BlackRock Chief Executive Laurence Fink said on Thursday, citing
a “very strong risk” of another U.S. ratings downgrade.

Fink, addressing a conference hosted by The Economist
magazine, lamented that President Barack Obama and Republican
challenger Mitt Romney did not address the cliff in their
pre-election debates. Nonetheless, Fink sounded more positive on
U.S. economic prospects relative to Europe, particularly France,
which he said is the most likely reason the euro zone would
collapse.

    • About Katya

      "Katya Wachtel is a hedge fund and big money reporter for Reuters. She hails from Melbourne. Australia, not Florida. You can contact her at katya.wachtel@thomsonreuters.com"
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