hedge funds

I just watched a great clip of an interview Jim Chanos, the famous head of hedge fund Kynikos Associates, did with the FT's Gillian Tett (Hat tip FT Alphaville). Chanos does a very good job of arguing hat short sellers are being unfairly…

RAB Capital, the hedge fund that lost a good deal of capital in its quest to capitalize on the Northern Rock situation now finds itself losing investor money. In fact, it is looking to halt redemptions from its funds for three years. This…

It was about 4 weeks ago now that I said I thought the dollar rally was not a fundamental move, but a monster bear market rally which will end up hurting dollar shorts. Back then, the Euro was trading for 1.5164 dollars. Today, the Euro…

A few weeks ago, I said I thought the volatility in commodity and currency markets smelled like panic. I found it very hard to believe that we could have such violent moves without a significant shakeout in the hedge fund world. We are…

On Friday, Bloomberg quoted a former LTCM partner as saying the $1.9 trillion hedge fund industry faces "much worse'' conditions than in 1998, when Long-Term Capital Management LP collapsed. "It's definitely a trickier…

As the economy hits stall speed, it is only to be expected that corporate default rates are set to rise. In fact, they have risen already, doubling since 2007.Through last week, 42 companies, all but one based in the U.S., have defaulted,…

This is a story I caught over at Michael Panzner's site this morning. Apparently Paramax, a hedge fund, entered into a swap arrangement with UBS based on the value of a subprime CDO back in February 2007. Under the terms of the swap, the…