Hedge funds are shutting at a rate not seen since the financial crisis, as many managers post disappointing returns and the largest players dominate money raising...In the first half of the year, 461 funds closed, Chicago-based Hedge Fund Research Inc. said. If that pace continues, it will be the worst year for hedge fund closures since 2009, when there were 1,023 liquidations. [Bloomberg]
You Haven't Seen The Last Of Vikram Pandit
Perhaps, you thought, that the day Vikram Pandit was abruptly and unceremoniously fired from Citigroup was the end. That we'd lost him for good. That he'd retreat to the his Upper West Side manse and spend his days beefing up his Odd Couple memorabilia collection, or work on that novel about a love that dare not speak its name between a bank CEO and the analyst who only acted like she hated him, or build that Zen garden he'd always wanted that the fucks at Citi never let him have. That he was finished with Wall Street. Well fret not. Uncle Vik wouldn't never do that to you.
Herbalife Would've Gone Down For The Dirt Nap Months Ago If Carl Icahn Had Minded His Own Business: Bill Ackman, Basically
Ackman knows this much to be true.
Look At These Paupers: The 25 Highest Paid Hedge Fund Managers Of Last Year Made A Trifling $11.62 Billion
Scratch that. It was a triflin' $11.62 billion. They can't even scrape together the money for the 'g'.