One of the largest hedge fund firms in the world continues to make money quietly by focusing on beat up loans-despite the general perception that bonds have little to offer investors.
Hedge funds have suffered their worst start to the year in performance terms since the financial crisis, as returns in March and January were both in the red after a volatile quarter for equities, new data reveal.
Balestra Capital, the hedge fund firm founded by James Melcher in 1979, is set to lose two senior leaders.
A high-flying City of London executive managed to dodge paying the full fare on his daily commute into London for five years - and took only three days to pay back the £43,000 ($72,000) he owed when he finally got caught.
He is said to have made a hugely successful trade involving more than $7.5bn on structured credit debt investments in 2012 that resulted in gains of some $2bn.
Five months after its initial terms were set, a historic criminal settlement between the former hedge fund SAC Capital and the Justice Department was approved by a U.S. district judge in a lower Manhattan court Thursday.
Hedge fund Coatue Management plans to return more than $2 billion in capital to investors in its flagship fund on June 30 after extreme volatility in technology stocks led to a 9 percent loss in March.
The hiring is part of a broader effort at the family office, which manages company head Steve Cohen's own money alongside that of certain employees and family members
Bridgewater Associates, the largest hedge fund firm in the world, has posted modest, positive returns this year as others that bet on macroeconomic trends have faltered.
Paul Tudor Jones, Michael Novogratz and Louis Bacon, hedge-fund managers that profited last year from bets on macroeconomic trends, posted losses in the first quarter as some of those trades turned against them.