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Teton Capital – Want to Find Good Shorts? Look for Promotional CEOs
Hedge Funds
As much prior research shows, bad corporate governance including dishonest and/or promotional CEOs is a red flag. Here is what a big hedge fund manager has to say on the topic. Teton Capital Partners, the $1.1 billion hedge fund managed by Quincy Lee, struggled during the second quarter thanks to what it described as an “unacceptable performance” from the short
Investors Show Signs of Discontent, Direction of Hedge Fund Flows Shifts Again
Hedge Funds
It seemed only a matter of time before investor sentiment caught up to investment performance in 2017, and that appeared to happen in June. While the industry is firmly positive for overall returns and for new flows in 2017, one can’t help but to feel the ground is not as steady as it seems. Hedge Fund Assets Rise Again With
Lakewood Capital Bets Against One of China's Richest Billionaires
Hedge Funds
When looking at Lakewood Capital Management’s muted 1.5% quarterly performance, investors might yawn at the hedge fund’s performance. But that belies important differences in the Long / Short strategy, with a particular emphasis on what happened on the short side of the portfolio during the quarter. In the fund’s second quarter letter to investors reviewed by ValueWalk, fund manager Anthony
Fund Managers Set to Pay Fortune in Back Taxes
Hedge Funds
Top hedge-fund managers including Steven Cohen and David Einhorn will be taxed on offshore gains, leading to potentially billions in back taxes between the fund managers, reports The Wall Street Journal. For years, managers of hedge-funds have held offshore accounts that accumulated untaxed gains. The government is now coming for those earnings. Steven Cohen, the founder of SAC Capital Advisors
David Einhorn Bemoans 'Frustrating' Losses in Note to Clients
Hedge Funds
Investors have reportedly pulled about $400 million out of David Einhorn's Greenlight Capital fund, and now Einhorn has addressed the firm's recent struggles - tied to his bets against some of the top tech giants - in a note to clients, CNBC reports. Einhorn - who came to fame by shortselling Lehman Brothers before its collapse - expressed frustration about how
Hedge-Fund Strategies Get a Second Wind
Hedge Funds
Unpredictable forces of nature such as gusty breezes and swaying tides often trouble recreational skippers when attempting to dock their boats in a crowded harbor. A sudden rush of wind, for instance, could easily catch the bow or stern of a docking boat and blow it past the designated slip. Seasoned boaters, however, tend to take the elements of wind
15 Cryptocurrency Hedge Funds Set for Launch as Bitcoin Surges
Our series on Cryptocurrency Hedge Funds hedge funds continues below. Updated: July 13.  A surge in initial coin offerings has become a byproduct of the recent spike in demand for cryptocurrencies. Initial coin offerings or ICOs for short, are in the words of Forbes contributor Laura Shin, “what you get if bitcoin and Kickstarter had a baby.” These products are a
Report: Investors Have Pulled More Than $400M Out of David Einhorn's Fund
Hedge Funds
After dropping about 2% in the first half of the year, investors have pulled nearly half a billion dollars out of David Einhorn's Greenlight Capital fund, the Wall Street Journal reports. Citing "people close to the firm," the Journal notes that more than 15% of eligible investors redeemed their money from the hedge fund, surpassing $400 million in outflows by midyear.
Lei Zhang: Better Than Warren Buffett?
Hedge Funds
Almost every investor has heard of the world’s most prominent value investors such as Seth Klarmanand Warren Buffett, but these aren’t the world’s only value investor. There are hundreds of smaller value money managers in the lower ranks, some of which have achieved returns that make even Buffett and Klarman look like amateurs. However, as these managers have chosen to
Equity Short Biased Hedge Funds Down 11% YTD
Hedge Funds
Hedge funds ended their five-month winning streak, down 0.19%1 for June based on preliminary numbers for the month. The average return of the Eurekahege Hedge Fund Index was drawn into negative territory in June as developed market mandates underperformed their emerging market peers; with trend-following and macro strategies lagging behind the pack. Meanwhile, underlying markets as represented by the MSCI