News 

Carlson Capital’s latest investor letter reveals market-lagging flagship funds, and insiders say 2 more portfolio managers have jumped ship

“Black Diamond Relative Value is up 8%, and Black Diamond Thematic has been the best out of all the funds, with a 10.24% return” writes Bradley Saacks for businessinsider.com. And the Dallas-based hedge fund manager’s two flagship multi-strategy funds — Black Diamond and Double Black Diamond — finished October up 2.5% and 1.4%, respectively, for the year so far, according to an investor letter.Meanwhile, the average hedge fund has returned more than 7% and the stock market is up double-digits.This year, Carlson Capital saw investors redeem from its stock-picking Black…

Read More
News 

Icahn hedge-fund protégé says these have been the 2 biggest ‘pain trades’ lately

“By comparison, the Eurekahedge Hedge Fund Index, an equal weighted index of some 2,460 hedge funds, is up 6.1% thus far in the year” writes Mark Decambre for marketwatch.com. Value’s recent resurgence has helped it to notch a 23.4% year-to-date return, compared with a 22% return for growth this year.At the end of the day, investors want to own companies that have real growth whether gross domestic product, or GDP, is 0% or 3%, Meister said. Source: marketwatch.com

Read More
News 

Ask a real estate pro: What can we do when new neighbors step over the line?

“You might learn that they were planning on replacing the hedge with something more beautiful or are about to put up a fence” writes Gary Singer for sun-sentinel.com. If the hedge was on the property line, or their side of it, your options will be limited to putting up a new hedge on your side. While I understand that the prior hedge may have been straddling the line, it is best to move it a foot or two onto your side to avoid future problems. Source: sun-sentinel.com

Read More
News 

We talked to 24 people about the hedge fund wunderkind at Elliott Management who wants to shake up AT&T. Here’s why management should be terrified.

“It wouldn’t be the last time Cohn’s pressure on companies would contribute to the fraying of relationships among company management” writes Bradley Saacks for businessinsider.com. Calderoni believes the time on boards has helped Cohn learn that “operating a company is different than investing in a company.”.  Source: businessinsider.com

Read More
News 

Showtime’s ‘Billions’ has beaten a lawsuit from a Wall Street performance coach who claimed the show ripped off her book

“In the show, Siff plays a performance coach working at a hedge fund who is caught between her boss and her husband, a US attorney” writes Alyssa Meyers for businessinsider.com. Daniels wrote that the court found no similarities between Shull and “Billions” character Wendy Rhoades, other than the fact that both women work as in-house performance coaches at hedge funds.”We have reviewed the Court’s decision and respectfully disagree with the court’s ruling,” attorney Michael James Malory said to Deadline.”An in-house psychiatrist may not be a ‘stock character,’” Daniels wrote, “but…

Read More
Brokers News 

WeWork drama continues, Hedge fund fees, AI on Wall Street

“It’s been tough for the wealth industry to convince new college grads to join their ranks” writes Olivia Oran for businessinsider.com. Wells Fargo’s adviser arm also told us it’s launched a new pitch to draw new talent.Today, we published a big scoop that Bank of America’s massive wealth arm, Merrill Lynch, has hiked trainee financial advisers’ starting salaries by $10,000.The average adviser’s age is around 52, according to Cerulli Associates data, and many are seen retiring over the next decade. Source: businessinsider.com

Read More
News 

A hedge fund has reportedly cut Juul’s valuation by more than a third as vaping scrutiny heats up

“The firm now values Juul at $24 billion, down from the $38 billion valuation the company reached following an investment from tobacco-giant Altria last year” writes Finanzen Net Gmbh for businessinsider.com. Hedge Fund Darsana Capital Partners recently wrote down its investment in Juul and cut the company’s valuation by more than a third, according to the Wall Street Journal.Darsana is among a group of hedge funds including Tiger Global Management and Coatue Management that reaped huge gains from the rapid rise of Juul’s valuation after Altria’s investment. Source: businessinsider.com

Read More
News 

SEC charges Northbrook hedge fund execs with fraud

“Two executives at a Northbrook hedge fund have been charged with fraud after allegedly cheating clients out of over a million dollars” writes David Roeder for suntimes.com. The pair used that model to misstate the fund’s historical performance and overcharged investors about $1.4 million in fees, the SEC said.After the SEC took notice of the valuation issues, Barnett, the fund’s Chief Executive Officer, and Aven, the Chief Operating and Compliance Officer, attempted to cover up their dealings by slashing their flagship fund and crediting investors for the overcharged fees without…

Read More