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International
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Swap Execution Facilities Reach the Starting Line
By Reuters
05/17/2013 3:37:51 PM ET
NEW YORK (IFR)—After two years of bickering over the construction of swap execution facilities, swaps users and would-be SEFs can finally circle a date on their calendar for when trades will be electronically executed.
With the U.
Bond Guru Gundlach of DoubleLine Goes Prime Time
By Reuters
05/16/2013 5:16:09 PM ET
NEW YORK (Reuters)—Bond investor and co-founder of DoubleLine Capital LP, Jeffrey Gundlach fancies himself as more than just a fixed-income guru, making successful predictions on everything from shares in Apple Inc. to Japan's Nikkei stock market index to natural gas and gold.
Blackstone, Peers Have a Bargain For You: Themselves
By Reuters
05/16/2013 11:34:14 AM ET
NEW YORK (Reuters)—Alternative asset managers such as Blackstone Group LP and KKR & Co. LP have for decades scoured the stock market for undervalued companies.
Dimon Has Big Say Over Who Serves on JPMorgan Board
By Reuters
05/16/2013 11:05:03 AM ET
NEW YORK (Reuters)—For years, JPMorgan Chase & Co. Chairman and CEO Jamie Dimon and other executives have hand-picked new directors, in a practice that is now unusual for a major U.
Paulson Raised Mortgage Insurers Bet in 1Q
By Reuters
05/16/2013 10:34:36 AM ET
NEW YORK (Reuters)—Billionaire investor John Paulson bet more heavily on mortgage insurers during the first quarter, which suggests that his hedge fund expects the housing recovery to grow stronger in the months ahead.
Between January and the end of March, according to a regulatory filing, Mr.
Loeb: Sony Reminds Me of Yahoo
By Reuters
05/15/2013 11:09:55 AM ET
TOKYO (Reuters)—Billionaire hedge fund manager Daniel Loeb said Sony Corp. reminds him of Yahoo Inc. before he waged a bitter proxy fight that triggered a boardroom shake-out at the Internet company last year.
Sony a Likely Winner For Loeb, Even if Spinoff Fails
By Reuters
05/15/2013 10:45:07 AM ET
BOSTON (Reuters)—Billionaire investor Daniel Loeb likely faces an uphill battle to convince Sony Corp. to embrace his proposal to spin off its entertainment arm, but he likely already holds a winning hand in his bet on the Japanese electronics giant.
In Vegas, Investors Strip Fund Managers of Their Secrets
By Reuters
05/13/2013 11:47:28 AM ET
LAS VEGAS (Reuters)—In Las Vegas last week, hedge fund investors rubbed shoulders with big-name managers, Hollywood heavies and political swells against a Bellagio hotel backdrop of glitz and gambling.
For the fifth straight year, private jets dropped off billionaire managers to schmooze clients and share success recipes with legions of hedge fund faithful who came on commercial airliners for the SkyBridge Alternatives Conference, which ran from the evening of May 7 through Friday [May 10].
Hedge Funds' Bullish Bets on Commodities at 6-Week High
By Reuters
05/13/2013 10:41:55 AM ET
WASHINGTON (Reuters)—The net long money held by hedge funds and other big speculators in commodities is back to a six-week high, moving on from April's market tumble, as traders piled into oil and oversold crops like coffee, cocoa and corn, trade data showed on Friday [May 10].
But hedge funds are not bullish on all commodities, sharply paring their bets on soybeans and natural gas for the week ended May 7 amid expectations of a bumper soy crop and warmer U.
No CDS Market Yet For New Apple Mega-Bond
By Reuters
05/10/2013 12:02:36 PM ET
NEW YORK (IFR)—A market has yet to materialize for credit default swaps offering protection on Apple Inc.'s record $17 billion bond issue, despite the enormous size of the deal.
To Hedge Inflation, Property Trusts Are the New Gold
By Reuters
05/10/2013 11:48:25 AM ET
HONG KONG (Reuters)—As central banks print cash to boost moribund economies, investors in Asia wanting to hedge against rising prices are dumping gold and doubling down on property.
They are driven by the search for yield as surprisingly benign inflation dims the appeal of bullion, but it's a risky play given lofty valuations for real estate.
A Hard Day to Be a Short-Seller, One of Many This Year
By Reuters
05/09/2013 5:44:03 PM ET
NEW YORK (Reuters)—Three long-time favorites of the short-selling crowd are making those investors eat crow, as Tesla, Barnes & Noble and Green Mountain Coffee are racking up big gains, making an already painful year for contrarian investors even worse.
All three companies soared on heavy volume on Thursday [May 9], with the gains likely amplified by a "short squeeze," or traders covering bets that the stocks would fall to prevent further losses.
Abu Dhabi Financial Zone to Challenge Dubai
By Reuters
05/08/2013 1:15:10 PM ET
ABU DHABI/DUBAI (Reuters)—For a decade, Dubai has prospered as the Middle East's top financial center, handling tens of billions of dollars of oil wealth. That dominance may now be threatened as neighboring Abu Dhabi demands a piece of the pie.
UBS Overhaul Ups Pressure on Private Banking Head
By Reuters
05/08/2013 12:39:24 PM ET
ZÜRICH, Switzerland (Reuters)—In a 16th century Swiss castle in March, the boss of UBS challenged the head of its private bank to explain his plans for overhauling the business of managing the money of the rich.
Jüerg Zeltner has been under the spotlight since last October, when chief executive Sergio Ermotti said UBS would partially withdraw from loss-making investment banking and focus more on the profitable wealth management arm.
Hall Stays Bullish on Oil Despite Punishing April
By Reuters
05/06/2013 4:50:52 PM ET
NEW YORK (Reuters)—Billionaire commodities trader Andy Hall is resolute that oil prices will rise longer-term, even after April's tumble triggered the worst slump in his flagship hedge fund for nearly a year.
Mr.
U.S. CLOs Slow With Longer Warehouse Periods, Lower Returns
By Reuters
05/06/2013 3:04:42 PM ET
NEW YORK (IFR)—Despite one of the most promising first quarters of issuance since 2007 — $26 billion in U.S. collateralized loan obligation (CLO) volume — longer ramp-up periods and a dearth of underlying assets may undermine the optimistic 2013 issuance levels originally envisioned for the sector.
Inflation Angst Evaporates in Race For Returns
By Reuters
05/03/2013 11:30:28 AM ET
LONDON (Reuters)—For all the trillions of dollars' worth in new money that central banks are printing, financial markets seem to be signaling that fears of rampant global inflation are unfounded.
Over the past month, investors have devoured virtually any fixed income securities on offer, from the U.
Glencore Seen as Still Hungry After Swallowing Xstrata
By Reuters
05/02/2013 11:04:37 AM ET
LONDON (Reuters)—After years of on-off talks, months of brinksmanship and often bitter negotiations, Glencore's head Ivan Glasenberg gets to complete the $30 billion acquisition of Xstrata on Thursday [May 2] — the mining industry's biggest takeover yet.
But even as the champagne pops, investors and rivals are asking where the highly ambitious South African will look for his next deal.
Tough Times For Hedge Funds That Bet on Market Tumult
By Reuters
05/01/2013 10:33:22 AM ET
NEW YORK (Reuters)—Nelson Saiers, a trader and math whiz, runs the type of hedge fund that tends to perform best when markets are going haywire.
The $600 million Saiers Capital fund and other so-called volatility funds use complex trading strategies to take advantage of pricing discrepancies caused by gyrations in global financial markets.
Commodity Funds Clive and Merchant Gain from Mid-April Upheaval
By Reuters
04/30/2013 3:00:59 PM ET
NEW YORK (Reuters)—Clive Capital and Merchant Commodity Fund, two commodity hedge funds that lost money over the last two years, are on an upswing after their bearish bets on prices benefited from this month's market tumble.
London-based Clive, which manages about $1.
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