Money and Finance
- Seth Klarman: The Oracle Of Boston
HEDGE-FUND bosses rarely double as cult authors. But an out-of-print book by Seth Klarman, the boss of the Baupost Group, sells for as much as $2,499 on Amazon. A scanned version of “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful...
- Paulson Forgoes Prognostication As Greatest Trade Sequel Flops
John Paulson, founder of Paulson & Co., one of the world’s largest hedge funds, has close-cut black hair, dark eyes and a soft voice. There’s a fuss when he arrives, befitting a man who made one of the biggest fortunes in Wall Street history,...
- Lehman...
From Barry Ritholtz’s blog: How awesome is this treasure trove of emails, documents, files et. al placed online by the NY Fed? Some of the emails between Lehman execs are laughable — naive, silly, hubristic, childish. But my favorite piece simply...
- Dalio Takes Hedge Crown From Soros
Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund made $13.8bn for investors last year. The profits made by the Connecticut-based Pure Alpha – already the world’s biggest...
- Bofa Lawyer Says Settlement Challenger Is Baupost
(Reuters) - Walnut Place, a group of undisclosed investors who oppose Bank of America Corp's (BAC.N) $8.5 billion mortgage bond settlement, is the Baupost Group, a distressed debt fund, according to an attorney for the bank. "Walnut Place is actually...
Money and Finance
US hedge funds capitalise on Lehman collapse
Thanks to Lincoln for passing this along.
It may sound impossible but one of the best financial investments of the past three years has been a collapsed bank. And not just any bank but Lehman Brothers, the world’s biggest bankruptcy.
The Wall Street titan’s 2008 downfall saw the implosion of a $1 trillion balance sheet, putting 26,000 jobs at risk. Yet it is now making some investors very rich.
Four large American hedge funds – Elliot Associates, King Street, CarVal and Baupost – now stand to make billions of dollars in profit from Lehman. They have snapped up big tranches of the bank’s debt at knock-down prices in one of the biggest vulture swoops in history.
- Seth Klarman: The Oracle Of Boston
HEDGE-FUND bosses rarely double as cult authors. But an out-of-print book by Seth Klarman, the boss of the Baupost Group, sells for as much as $2,499 on Amazon. A scanned version of “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful...
- Paulson Forgoes Prognostication As Greatest Trade Sequel Flops
John Paulson, founder of Paulson & Co., one of the world’s largest hedge funds, has close-cut black hair, dark eyes and a soft voice. There’s a fuss when he arrives, befitting a man who made one of the biggest fortunes in Wall Street history,...
- Lehman...
From Barry Ritholtz’s blog: How awesome is this treasure trove of emails, documents, files et. al placed online by the NY Fed? Some of the emails between Lehman execs are laughable — naive, silly, hubristic, childish. But my favorite piece simply...
- Dalio Takes Hedge Crown From Soros
Ray Dalio has overtaken George Soros as the world’s most successful hedge fund manager after his Bridgewater Pure Alpha fund made $13.8bn for investors last year. The profits made by the Connecticut-based Pure Alpha – already the world’s biggest...
- Bofa Lawyer Says Settlement Challenger Is Baupost
(Reuters) - Walnut Place, a group of undisclosed investors who oppose Bank of America Corp's (BAC.N) $8.5 billion mortgage bond settlement, is the Baupost Group, a distressed debt fund, according to an attorney for the bank. "Walnut Place is actually...