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May 10, 2013

In Vegas, investors strip hedge fund managers of their secrets

LAS VEGAS (Reuters) – In Las Vegas this week, hedge fund investors rubbed shoulders with big-name managers, Hollywood heavies and political swells against a Bellagio hotel backdrop of glitz and gambling.

For the fifth straight year, private jets dropped off billionaire managers to schmooze clients and share success recipes with legions of hedge fund faithful who came on commercial airliners for the SkyBridge Alternatives Conference, which ran from Tuesday evening through Friday.

May 10, 2013

Investor Daniel Loeb details bullish bet on Japan

LAS VEGAS, May 9 (Reuters) – Billionaire investor Daniel
Loeb will go anywhere for a good trade and he is particularly
focused on Japan right now, he told a hedge fund industry
conference on Thursday, according to people who heard him speak.

Loeb discussed everything from his bet on Greek and
Argentine debt and nutritional supplements company Herbalife
, but spent much of the time discussing Japan, these
people said. He was speaking as the currency dropped to trade at
100 yen to the dollar, its lowest level in four years.

May 9, 2013

Investor Dan Loeb’s pragmatic, opportunistic approach pays off

LAS VEGAS, May 9 (Reuters) – Billionaire investor Daniel
Loeb will go anywhere for a good trade, he told an industry
conference, discussing the strategies that have turned him into
an industry stand-out in 2013, according to people who heard him
speak.

Loeb discussed everything from his bet on Japan, to Greek
and Argentinian debt and nutritional supplements company
Herbalife, said these people.

May 9, 2013

In Sin City, Paulson glosses over his losses: sources

LAS VEGAS (Reuters) – Days after reporting some of the industry’s deepest losses, hedge fund billionaire John Paulson said investors should stick with managers for the long term and reminded a conference audience that he had made billions in the past.

People who heard the remarks in Las Vegas on Wednesday said Paulson barely touched on the losses that his long-standing bet on gold and gold miners had inflicted on several of his portfolios, including a small fund which has lost 47 percent this year.

May 8, 2013

Hedge fund chief Paulson loses big on gold

NEW YORK (Reuters) – Hedge fund billionaire John Paulson is emerging as one of the biggest losers in this year’s gold rout, further tarnishing his once legendary status in the $2 trillion hedge fund industry.

Paulson’s $700 million gold fund lost a whopping 27 percent in April, when the price of the metal plunged 17 percent over a two-week stretch, according to performance figures provided by a person familiar with the fund.

May 7, 2013

Hedge fund chief Paulson a big loser in gold rout

NEW YORK (Reuters) – Hedge fund billionaire John Paulson is one of the biggest losers in this year’s gold rout, with his gold fund of under $1 billion losing 27 percent in April alone, according to performance figures provided by a source familiar with the fund.

The jarring one-month decline in the Paulson gold fund, brings the year-to-date loss for the fund to about 47 percent, the person familiar with the fund said.

May 3, 2013
via Unstructured Finance

The sultans of swing

Although most investors have been pleased with the steadily rising U.S stock market over the past six months, funds that profit when markets are convulsing are licking their wounds.

With market stress at multi-year lows, volatility hedge funds returned just 1.16 percent in the first quarter, compared with 3.7 percent for the broader hedge fund group.

May 2, 2013

SAC fund to adopt claw-back provision, beef up compliance

BOSTON/NEW YORK (Reuters) – Hedge fund titan Steven A. Cohen, whose $15 billion firm has been under fire for alleged insider trading, took an unprecedented step when he said on Thursday SAC Capital Advisors would begin clawing back compensation from employees who are found to use illegally obtained information.

The claw-back policy, which will go into effect next year, is among several initiatives Cohen is taking to bolster compliance at his hedge fund.

May 1, 2013

Tough times for hedge funds that bet on market tumult

NEW YORK, May 1 (Reuters) – Nelson Saiers, a trader and math
whiz, runs the type of hedge fund that tends to perform best
when markets are going haywire.

The $600 million Saiers Capital fund and other so-called
volatility funds use complex trading strategies to take
advantage of pricing discrepancies caused by gyrations in global
financial markets.

Apr 23, 2013

Avenue Capital’s Lasry will not be ambassador to France: source

NEW YORK (Reuters) – Billionaire trader Marc Lasry told investors in his $12 billion Avenue Capital that he will remain at the hedge fund and not become the next U.S. ambassador to France, according to a person familiar with the situation.

Lasry, who had been expected to get the nomination, told clients in a note on Tuesday that he would remain at the New York-based firm, according to the source, who did not want to be identified.

    • 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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