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Fund Managers Set to Pay Fortune in Back Taxes
Hedge Funds
Top hedge-fund managers including Steven Cohen and David Einhorn will be taxed on offshore gains, leading to potentially billions in back taxes between the fund managers, reports The Wall Street Journal. For years, managers of hedge-funds have held offshore accounts that accumulated untaxed gains. The government is now coming for those earnings. Steven Cohen, the founder of SAC Capital Advisors
David Einhorn Bemoans 'Frustrating' Losses in Note to Clients
Hedge Funds
Investors have reportedly pulled about $400 million out of David Einhorn's Greenlight Capital fund, and now Einhorn has addressed the firm's recent struggles - tied to his bets against some of the top tech giants - in a note to clients, CNBC reports. Einhorn - who came to fame by shortselling Lehman Brothers before its collapse - expressed frustration about how
Hedge-Fund Strategies Get a Second Wind
Hedge Funds
Unpredictable forces of nature such as gusty breezes and swaying tides often trouble recreational skippers when attempting to dock their boats in a crowded harbor. A sudden rush of wind, for instance, could easily catch the bow or stern of a docking boat and blow it past the designated slip. Seasoned boaters, however, tend to take the elements of wind
15 Cryptocurrency Hedge Funds Set for Launch as Bitcoin Surges
Our series on Cryptocurrency Hedge Funds hedge funds continues below. Updated: July 13.  A surge in initial coin offerings has become a byproduct of the recent spike in demand for cryptocurrencies. Initial coin offerings or ICOs for short, are in the words of Forbes contributor Laura Shin, “what you get if bitcoin and Kickstarter had a baby.” These products are a
Report: Investors Have Pulled More Than $400M Out of David Einhorn's Fund
Hedge Funds
After dropping about 2% in the first half of the year, investors have pulled nearly half a billion dollars out of David Einhorn's Greenlight Capital fund, the Wall Street Journal reports. Citing "people close to the firm," the Journal notes that more than 15% of eligible investors redeemed their money from the hedge fund, surpassing $400 million in outflows by midyear.
Lei Zhang: Better Than Warren Buffett?
Hedge Funds
Almost every investor has heard of the world’s most prominent value investors such as Seth Klarmanand Warren Buffett, but these aren’t the world’s only value investor. There are hundreds of smaller value money managers in the lower ranks, some of which have achieved returns that make even Buffett and Klarman look like amateurs. However, as these managers have chosen to
Equity Short Biased Hedge Funds Down 11% YTD
Hedge Funds
Hedge funds ended their five-month winning streak, down 0.19%1 for June based on preliminary numbers for the month. The average return of the Eurekahege Hedge Fund Index was drawn into negative territory in June as developed market mandates underperformed their emerging market peers; with trend-following and macro strategies lagging behind the pack. Meanwhile, underlying markets as represented by the MSCI
Crispin Odey Says Risk of a Market Crash is Growing
Hedge Funds
Crispin Odey, one of the hedge fund industry's most vocal bears, says that the risk of a market crash is on the rise as the Federal Reserve normalizes interest rates amid slowing growth, Bloomberg reports. In a letter to investors, Odey checked off all the challenges facing the markets, including a widespread slowdown in the industrial, retail, auto and commodity
Fund Activist Activity Rises While Assets Fall
Hedge Funds
Fund Activist Activity continues its 2016 momentum 2016 was a busy year for activists according to the Harvard Law School Forum shareholder study posted by Josh Black, Editor-in-Chief, Activist Insight. As markets around the world trended higher following Brexit and Trump’s election, activists continued to find targets with a surge in one-off campaigns, governance -related proposals and remuneration crackdowns. In
Jason Karp's Tourbillon Capital: FAANGs Are Not Investments; Bubbles Everywhere
Hedge Funds
Jason Karp’s Tourbillon Capital Partners has gotten off to a rocky start to the year with the Tourbillon Global Master Fund returning -1.1% net during the first quarter. The Long Alpha funds (domestic and offshore) had a +5.2% and +5.5% net return respectively and while this return beat that of the Master Fund, the Long Alpha funds underperformed their SPX/MSCI