Hedge Funds a good deal?
The wild world of hedge funds.
Hedge Fund Study--Not a good deal for pension funds!
An article by NY Times business writer Gretchen Morgenson cites recent studies which show that hedge funds hurt not cure public pension fund shortfalls.
Hedge Fund Sales Pitches Cast a Spell on Pension Funds
9-19-08 180 Hedge Funds Liquidated, 2nd Qtr
More than 180 Hedge Funds Liquidated in the Second Quarter
Donna Kardon reports in the Wall Street Journal 9-19-08 that
More than 180 hedge funds were liquidated in the second quarter amid volitile financial markets putting the total number of liquidations in the first half of this year at 350, up 15 % from a year earlier...
If hedge fund liquidations proceed at the current rate, about 700 funds--representing 7% of the industry--would close for the year, one-quarter more than last year.
HFR Group, a hedge fund research firm estimates that 10,200 hedge fund vehicles now exist, managing more than $1.93 trillion in investor capital as of the second quarter.
Hedge Fund Fraud 4-15-08
Hedge Fund Founder Given 20 Years for Investor Fraud
A federal district judge sentenced Samuel Israel III, co-founder of a hedge fund, the Bayou Group, now defunct, to 20 years in prison for his role in a scheme that cheated investors of more than $400 million.
Samuel Israel III faked his suicide and flew the coop--
What is a hedge fund? Wikipedia
Why Hedge Funds Aren't a Good Deal for Investors
Where's my money?
The Murky World of Hedge Funds--Seth Tobias Cashes in His Chips
Today's NYTimes reported at length today on the short, fast life of hedge fund entrepreneur, Seth Tobias. Mr. Tobias, a familiar presence on CNBC was found September 4 floating face down in the pool of his mansion in Jupiter, Florida. Now his wife and his five brothers are battling in court over his $26 million estate. His will did not mention his wife and left his estate to his brothers. His wife claims the will is invalid because it was signed before they were married. Tobias's brothers have accused his wife of intentionally causing his death. Here's a link to the NY Times article: