| Mass advertising by hedge funds is unlikely to become a reality anytime soon. |
Michael Geismar’s $710,000 blackjack breakfast
Michael Geismar’s blackjack run ended just after six o’clockon Friday morning with $410,000 in manila envelopes in cash sitting on a table at Café Bellagio in the namesake Las Vegas luxury hotel, right next to the plates of steak and eggs and glasses of ice water.
Josh Fink’s wild ride
His father may be one of the country’s most successful money managers, but that hasn’t helped Josh Fink beat the markets.
The Rich List
Altogether the 25 highest-earning hedge fund managers earned a combined $14.4 billion last year, down from more than $22 billion in 2010 and the lowest sum in three years.
Passport falls short
The equity-focused macro strategy has had its substantial long gains muted by losing short positions that some investors attribute to an enhanced emphasis on risk management.
Blackstone’s second seeding fund starts with a sputter
All seven of its hedge fund picks lost money, underscoring how no amount of cash or choice can eliminate the inherent risk in betting on new talent.
Blue Ridge partner David Greenspan plans potential $1 billion launch
Blue Ridge Capital Management partner and portfolio manager David Greenspan resigned, taking three staffers with him as he laid the groundwork for what could be one of the biggest hedge fund launches of the year.
Hype over Boaz Weinstein’s J.P. Morgan harpooning turns out to be much blubber
He has been compared to Captain Ahab, but Boaz Weinstein is more like a fisherman patiently trawling for cod than a whale hunter with an itchy harpoon hand.
Tiger seed Sabretooth in liquidation
“There was no falling out or even loss of mutual respect. It’s just a complex and novel market right now and we were having trouble agreeing on how to navigate it.”
JOBS Act won’t mean mass marketing for hedge funds
“It’ll change things at the margin, but it won’t be a sea change in how hedge funds get business,” said the manager of a multibillion-dollar hedge fund firm, who fittingly requested that he not be quoted by name.
Calpers reviews its hedge fund strategy
“Every time you sign somebody up or stay with them, it’s a negotiation. I think the investors are getting smarter about how to do that.”
Greg Lippmann’s LibreMax crosses $1 billion
The housing-focused credit hedge fund firm launched by Deutsche Bank subprime star Greg Lippmann, has reached nearly $1.1 billion in assets.
Eton Park: “We are very disappointed”
Eric Mindich’s Eton Park apologized to investors for its poor performance in 2011 in a detailed, 48-page letter to clients.
