Supposedly some people will be told to take off early for the weekend and not come back on Monday. Continue reading »
FrontPoint
A few weeks back, FrontPoint Partners’ healthcare fund had its name in the press due to its association with a French doctor who allegedly passed one of its managers some hot tips. Not really that big a deal in the grand scheme of things (especially considering the firm itself was never actually charged with any wrongdoing) but apparently investors thought differently. They have redeemed en masse, forcing FrontPoint to liquidate the $1.5 billion fund. And now they need to sit down for a little chat re: the ways of the world. Continue reading »
Earlier today French doctor Yves Benhamou was charged with passing on some hot info about Hepatitis C to an unnamed hedge fund, which didn’t seem to make any money off of the tip but avoided losing $30 million by a timely sale of six million shares of drug maker Human Genome Sciences. The fund was not named, but according to Matthew Goldstein at Reuters, it’s FrontPoint Partners, which has suspended a trader named Dr. Chip. Continue reading »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
