Unstructured Finance

Hedge funds love affair with leverage still on hiatus, for now

October 5, 2012

By Katya Wachtel

Last year was a sorry one for the $2 trillion hedge fund industry, when funds lost 5 percent on average. This year managers are doing better, up more than 5 percent for the year, according to the latest tracking data.

S&P calls baloney on Wall Street’s “cyclical” profit view

July 2, 2012

By Lauren Tara LaCapra

Ask a Wall Street CEO whether his bank will be able to make as much money as it used to make, once customers start trading and doing deals again. He will inevitably respond with some form of “Yes!”

Et tu, S&P

August 6, 2011

By Matthew Goldstein

A few weeks ago S&P telegraphed that it would soon strip the U.S. of its vaunted Triple A rating and downgrade the government’s debt by a slight notch to AA+. And Friday night, the major credit rating did just as it telegraphed.

S&P as the decider?

July 24, 2011

By Matthew Goldstein

Derivatives guru Janet Tavakoli is a long-time critic of the rating agencies and in particular the role the raters played in the subprime debt crisis. And she says given the shabby job the rating agencies did in giving the green light to the subprime debt boom, it’s odd to think of firms like Standards & Poor’s playing such a big role in the ongoing US debt ceiling negotiations.

Deals wrap: A successor for Buffett?

July 30, 2010

A fairly unheralded 44-year-old Chinese-American hedge fund manager, with a strong background as a human rights activist, has become a leading candidate to replace Warren Buffett, should he retire as founder and CEO of the $100-billion Berkshire Hathaway fund, according to the Wall Street Journal.

The rising and falling default rate

August 20, 2009

Stock photo of Javier Ramirez is seen through the crystal ball while practicing before a show in the national jugglers encounter in Concepcion, 500 km from Santiago. Picture taken March 12, 2004.  	 REUTERS/STR NewRating agencies Moody’s and S&P regularly publish figures on how many companies have defaulted on their debt, and the numbers are rising fast.