HF managers back gay marriage, LIBOR now honest, deep-fried black swan, the high-beta horror of hedge funds and more
By Chris ClairWhat’s news around the hedge fund industry for Wednesday, July 25, 2012:
Around the web
Barclays’ Alison Carnwath resigns; fourth to quit since LIBOR fine. (Bloomberg, via SFGate.com)
Hedge fund inflows strong in first half of 2012. (Pensions & Investments, via Crain’s New York Business)
Hedge funds bet on falling gas supply. (Bloomberg, via the Pittsburgh Post-Gazette)
Seán FitzPatrick, former chief of Anglo Irish Bank arrested, charged with fraud. (Canadian Business)
New York Fed faces questions over policing of Wall Street. (DealBook)
On Wall Street, gender bias runs deep. (NYT.com)
Bloodied trader pines for risk as Wall Street retreats. (Bloomberg)
Bond trading loses some swagger amid upheaval. (NYT.com)
Rich donors, including hedge fund managers, back gay marriage. (Financial Times)
LIBORious I: LIBOR now honest says FSA. (Reuters) Oh, well in that case…. Wait, didn’t the FSA think it was honest before?
Lehman, MF Global dominate distressed debt trading. (WSJ.com)
MF Global’s U.S. trustee considering suits against U.K. staff. (Bloomberg)
Oakum Bay Capital gets investment from insurance firm. (HedgeFund.net)
Israeli hedge funds doing well: Tzur Management. (HedgeFund.net)
Tony Hall resigns as Duet Commodities Fund CIO after loss. (Bloomberg)
Miami misled investors over city’s financial health, SEC finds. (Miami Herald)
Deep-fried black swan goes global as drought spreads from U.S. to Asia, and now southern Europe. (ZeroHedge)
Sandy Weill: Break up the big banks. (CNBC) ‘Twas not always thus. From Bloomberg: “Weill helped engineer the 1998 merger of Travelers Group Inc. and Citicorp, a deal that required repeal of the Depression-era Glass-Steagall law that forced deposit-taking companies backed by government insurance to be separate from investment banks. The New York-based company became the biggest lender in the world before almost failing and taking a $45 billion taxpayer bailout in 2008.”
Charting the high-beta horror of hedge funds. (ZeroHedge)
Blame the short sellers? Here we go again…. (Attain Capital)
OrbiMed to close hedge fund to new money. (FINalternatives)
A rapid fall in the euro can save Spain. (Martin Feldstein in the FT)
Currency hedge funds lose on euro bets in June. (WSJ.com)
Tudor’s European employees split $76.6 million. (FINalternatives)
BlueMountain credit fund is up 10.17% in first-half 2012; no mention of JPMorgan. (Dow Jones Newswires, via Nasdaq)
