hedge fund

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Obama Moves Quickly to Overhaul Finance Rules

Details of plan to emerge by April when prez heads to London summit

(Newser) - The Obama administration aims to quickly beef up regulation of the US financial system to stave off economic implosion, the New York Times reports. Plans include tightening rules on hedge funds, credit rating agencies, and mortgage firms, and keeping a closer watch on financial instruments at the center of the...

SEC Charges 'Mini-Madoff' With Fraud

Fugitive fund manager remains on the run as cops follow trail to La.

(Newser) - A Florida hedge fund manager who's been on the run for more than a week will find federal fraud charges waiting for him if and when he resurfaces, Reuters reports. Arthur Nadel transferred more than $1 million of clients' money into secret accounts before disappearing, the SEC alleges in a...

Florida 'Mini-Madoff' Missing With $350M

Police searching for fund manager after clients complain of missing millions

(Newser) - A Florida hedge fund manager is missing along with hundreds of millions of dollars of his clients' money, the Sarasota Herald-Tribune reports. Art Nadel, 75, was reported missing Wednesday after his wife found a suicide note. Stunned investors have been told that Nadel's funds, thought to have totaled $350 million,...

Dow and Dirty: Investor Pushes Porn Hedge Fund

AdultVest, claiming 50% growth, sinks money into porn for iPod, among other things

(Newser) - Looking for a conservative investment? Forget bonds and go for bondage—or, at least, that’s the pitch for AdultVest, a hedge fund its CEO tells the Atlantic is an adult-entertainment industry first. The spiel: AdultVest is up 50% in the past year (based on “very conservative” appraisals), and...

Madoff Was Livin' Large in Lap of Luxury

High-roller owns yacht, jets, and properties up and down East Coast

(Newser) - If disgraced money-man Bernard Madoff felt any guilt about his Ponzi-scheme hedge fund, you'd never know it. Now that he's under house arrest, his "lifestyle of the rich and infamous" is somewhat limited, but in a fitting tribute to a man who just fleeced investors of $50 billion, CNN...

Madoff Investor Kills Himself
 Madoff Investor Kills Himself 
Dec 23, 2008 1:44 PM CST

Madoff Investor Kills Himself

Hedge fund head who lost $1.4B committed suicide

(Newser) - A hedge fund founder whose firm lost $1.4 billion in Bernie Madoff's Ponzi scheme was found dead in his Manhattan office today, an apparent suicide, reports the New York Times. Rene-Thierry Magon de la Villehuchet, 65, had been trying to recover money for European clients of Access International Advisors,...

Conn. Firm Collected $500M From Madoff's Marks

Fairfield Greenwich didn't deliver promised oversight to clients

(Newser) - With its clients having lost $7.3 billion in Bernard Madoff’s Ponzi scheme, a Connecticut hedge-fund advising firm wants the public’s sympathy—but in fact, the Fairfield Greenwich Group took almost $500 million in fees alone from the money Madoff shepherded. And, the New York Times reports, it’...

Middlemen Lose Billions in Madoff Fraud

Hedge funds that sold access to Ponzi scheme face collapse

(Newser) - Last week Walter Noel was a successful hedge fund manager, with houses from Connecticut to the Caribbean and an adulatory photo shoot in Vanity Fair. But overnight, when Bernie Madoff's giant Ponzi scheme was exposed, his $14.1 billion firm, Fairfield Greenwich Group, lost more than half its assets. While...

SEC Under Fire for Flubbing Madoff Warnings

Judge liquidates confessed fraudster's investment firm

(Newser) - The SEC is coming under fire for failing to spot what may be the biggest securities fraud in history, the Washington Post reports. The regulator received repeated warnings from 1999 onwards that Bernard Madoff's investment fund was fishy, but failed to conduct even a routine examination until Madoff blew the...

Red Flags Didn't Stop Colossal Madoff Fraud

Steady returns, tiny auditors prompted questions

(Newser) - Bernard Madoff's investment operation—found this week to be a massive Ponzi scheme that lost as much as $50 billion—raised plenty of red flags over the last decade, the Wall Street Journal reports. As far back as 1999, Madoff’s steady returns in wide-ranging markets seemed unrealistic to some...

Big Names Bilked in $50B Madoff Fraud

Swindler was money manager of choice in elite circles

(Newser) - Some of America's wealthiest people are finding themselves a lot poorer in the wake of the Bernard Madoff fund scandal, the Wall Street Journal reports. Madoff strived to become known as the investor of choice in elite circles, and counted New York Mets owner Fred Wilpon and GMAC chairman Ezra...

Silda Joins Hedge Fund, Eliot Mulls Book

Silda joins hedge fund; Eliot may write book

(Newser) - Silda Wall Spitzer, liberated from the constraints of being a politician's wife, has gone to work for a Manhattan hedge fund, New York magazine reports. A former corporate attorney, Silda will be recruiting investors for Metropolitan Capital Advisors, run by the wife of a long-time Spitzer friend and supporter. Meanwhile,...

Why Midafternoon Brings Out the Bears
 Why Midafternoon 
 Brings Out the Bears 
analysis
Oct 16, 2008 12:50 PM CDT

Why Midafternoon Brings Out the Bears

Wall Street is facing one of its worst bear markets since World War II

(Newser) - An increasingly familiar Wall Street phenomenon—a three-digit swing in the Dow, usually down, in the final hour of trading—is a direct result of population growth in one species: bears. Margin calls are forcing panicked sell-offs, it's true, but the situation is more complicated than that, experts tell...

Hedge Funds in Panic on Volatility, Short-Selling Ban

Fear is main force handcuffing risk-taking investors

(Newser) - Hedge funds have been caught flatfooted as the stock market’s volatility and a ban on short selling has made it more difficult to predict swings, the New York Times reports. Many funds, which generally have flourished amid market turbulence, are reporting their worst year ever, fueling speculation that some...

Tough Times Ground Hedge Fund High-Fliers

Specialized investment industry dragged back to earth by shaky market

(Newser) - The recent market turmoil has taken a good deal of the shine off of hedge funds, as managers are unable to reproduce their heretofore exemplary results in poor market conditions, the New York Times reports. The average hedge fund lost 4% this year, the worst overall results in the industry’...

Even Hedge Funds Start to Feel the Crunch

Market-beaters may have reversed upward trend with ugly July

(Newser) - Hedge funds, usually known for beating the wider market, are taking a hit in the general financial slump, the Wall Street Journal reports. Though they're still outperforming the market for the year, early data suggest that trend might have reversed last month: One study of 60 funds shows them off...

Demonizing Shorters Won't Save the Likes of Lehman

Darwinian market bloodletting may eliminate raider targets

(Newser) - Short-sellers have the power to utterly crush Lehman Brothers, as they did Bear Stearns, writes James Cramer in New York, but it's largely Lehman's own fault. Lehman shares much of the "mismanagement, arrogance and recklessness" that brought down Bear, Cramer opines in a piece that says excoriating short-selling hedge...

Israel to Judge: I Did Attempt Suicide

Painless or not, hedge-fund scammer couldn't off himself

(Newser) - A hedge-fund cheat who faked his death to try to dodge a 20-year prison sentence has told a judge that he did actually try to commit suicide this week. Samuel Israel appeared in Manhattan federal court today for a new charge that could get him an extra 10 years.

Fugitive Hedge- Fund Swindler in Feds' Custody

After faking his own death, Samuel Israel turns himself in

(Newser) - It's official: Samuel Israel definitely isn't dead. The fugitive hedge-fund swindler turned himself in today, federal authorities say. Israel disappeared last month on the day he was supposed to report to federal prison. His car was found parked near a bridge over the Hudson River, with the words "suicide...

Girlfriend of Fugitive Fund Chief Charged

Police say she helped him fake his own suicide and escape

(Newser) - The girlfriend of a hedge fund swindler whose car was found abandoned in New York has been charged with helping him elude his sentence. Police arrested Debra Ryan today and accused her of aiding and abetting the escape of Samuel Israel III, who bilked investors out of $450 million. He...

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