David Shaw Made A Beautiful Hedge Trade On His Kids' Academic Futures
Throwing $1 million every year for a decade at Harvard, Stanford, Yale and Princeton, but giving only half that to Brown and Columbia? That's just solid asset management.
Harvard Admits That Harvard Sucks At Managing Harvard's Money
In a blow to metaphysical obnoxiousness, the phrase "I'm a hedge fund manager at Harvard" is now obsolete.
Banks Have A Right Mind To Sue The Fed Over Stress Tests
Apparently said tests are illegal, according to a group whose members "include senior executives at big banks J.P. Morgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc., Wells Fargo & Co., and State Street Corp."
Harvard Mulls Charles River-Boston Harbor Pleasure Cruise Business
A company called Global Maritime has become a bit of a thorn in Harvard Management Co's side.
Steve Schwarzman: Harvard Admits Its Biggest Mistake (Doubting My Sheer F*cking Awesomeness)
It still keeps them up at night.
Fake Hedge Fund Manager's Online Dating Membership In Peril
Mark Malik's ill-gotten gains are currently unavailable to him.
Oh, So Now It's Considered A Crime To Spend Investor Funds On Dating Site Memberships?
Moazzam “Mark” Malik was looking for love.
Hardcore Harvard Investment Group Soliciting Student Partners Who Aren't Afraid To Take Some Risks With Their Parents' Money
You're a Harvard undergrad and you want to beef up your resume so that in a couple years, top hedge funds will be begging you to take meetings with them. You figure joining some sort of on-campus investor group might do the trick, but there are so many to choose from it's difficult to figure out which one is going to be your ticket to the big leagues. Except it's not actually that difficult at all. In fact, the answer is quite simple. There are student investment clubs and there is Black Diamond Capital Investors. The former, piddling little after-school programs for, when it comes down to it, amateurs. The latter, an opportunity to put your balls on the table and make some real money. If that sounds like something you'd be interested, please have a check or money order for at least $1,000 ready,* which is the minimum investment members/partners must make, so that management can ensure everyone's got skin in the game. “Black Diamond is all about taking investments to the next level,” said Patrick M. Colangelo ’14, who founded the club last semester. He said that the mandatory minimum investment exists to ensure member engagement in the group, which is limited to 25 participants. "We select experienced finance students who are willing to put up the minimum capital contribution because we seek partners who will be vested in the operations and performance of the fund," Colangelo said. "It really gets the most out of our partners.” Member Arash Alidoust ’13 said he believes the buy-in is critical to the success of Black Diamond, which claims to be Harvard’s largest private growth fund. “It makes you much more concerned and much more innovative,” Alidoust said. “Black Diamond becomes part of your life.” And while the initial outlay be difficult for some college kids to swing, rest assured you're going to make it back many times over. Members said that Black Diamond’s investment strategy differs significantly from that of other financial groups on campus. Like the hedge funds it emulates, Black Diamond is a riskier investment than some of its peer groups, a risk which members hope will be rewarded. Colangelo said that the organization is aiming for a 30 percent return on its investment...“What Black Diamond has been created for is for investors who have a little bit of experience, joining a group of other experienced individuals who really want to do something different,” Colangelo said. Alidoust said that the strength and diversity of Black Diamond’s team of investors allows the club to break out of the typical “framework” of investing. “We encourage innovation and new ideas about investing, rather than just sticking with the old ideas,” he said. Exclusive Investment Club Asks Student Members for $1,000 [Crimson] *Though feel free to invest up to $20,000.