Last January, Ms. Mascherin and her partner, Michel Tamisier, both former managers at the French fund Carmignac, created Precious Time, a fund dedicated to collectible watches. In a world hungry for placements and starving for returns, advisers are finding that “exotic” investment products have a refreshing appeal. “We see desperation around because traditional investments, including alternatives like real estate, private equity or hedge funds, have seen tremendous volatility since 2008,” said Massimo Monti, a principal at Rasini & C., an independent advisory company specializing in alternative and hedge fund investments. Ms. Mascherin said: “We are not leveraging and we are not shorting. Our shareholder is the owner of the physical stock. It is not a virtual investment.” [NYT]
Bank Of America All Of A Sudden Too Good For John Paulson
Apparently some investors in the hedge fund are willing to stick out bets on Greece and Puerto Rico, while others? Not so much.
Bonus Watch '13: UBS Hedge Fund Employees None Too Happy To Be Treated Like UBS Employees
The Swiss are scheduled to communicate bonus numbers today. In the meantime, those working in UBS's O'Connor fund are preemptively pissed re: the news their compensation will be structured as though they were regular old employees of the bank. What are they doing about it?