Today
Glen Point Capital’s Neil Phillips found guilty of FX fraud
The former hedge fund executive faces a maximum of 10 years in prison but will have to wait until March 14 to hear his sentence.
- Chris Dolmetsch, Carter Johnson and Greg Farrell
This Month
This hedge fund shorted Qantas as Joyce was selling
Marcus Hughes followed Alan Joyce’s lead. He shorted the stock, betting the value of Qantas shares would fall. “Whenever an insider sells, we’ll look at shorting a company.” It worked.
- Joanne Tran
- Exclusive
- Activist investing
Dan Loeb to headline Sohn Hearts & Minds
The famed hedge fund manager has built a reputation as a fierce shareholder activist and his brutal letters to management have become legendary on Wall Street.
- Jonathan Shapiro
Watermark’s Braitling hangs up his boots; hands fund to Blackwattle
Street Talk can reveal Watermark chief investment officer Justin Braitling is retiring from the industry and handed over the reins of his Absolute Return Fund to Blackwattle.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Morgan Stanley FX head testifies bank restricts barrier trades
The investment bank does not permit spot trades intended to move the underlying rate or to trigger a barrier rate.
- Chris Dolmetsch and Carter Johnson
Glen Point trial reveals Morgan Stanley tried to buy back option
Morgan Stanley offered to buy back the option on December 18, 2017, starting at $US9 million. Three hours later, the bank said it was willing to pay $US13 million.
- Chris Dolmetsch and Carter Johnson
Glen Point trial casts Morgan Stanley as hedge fund’s victim
The case against Phillips focuses on a frantic one-hour buying spree of the South African rand that began in the waning minutes of Christmas 2017.
- Greg Farrell and Carter Johnson
How this hedge fund pulled off 2023’s ‘big short’
Ravi Chopra’s Azora Capital successfully shorted all four of the US banks that failed in March and sent financial markets reeling.
- Joshua Peach
Hedge funds get new SEC mandate for reporting short sales
The US regulator finalised rules on Friday that require hedge funds and other big investors to report gross short positions in certain stocks at the end of each month.
- Lydia Beyoud
Quality funds outperform global benchmark
Doug Tynan’s GCQ Flagship Fund returned a whopping 41.1 per cent after fees thanks to holdings in out of favour US tech giants Alphabet and Meta.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Arb funds gird loins for G-CG ruling
If the deal breaks and shares settle below $7, it could spell disaster.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Playing PAC-man getting more expensive for GQG
Pacific Current Group owns stakes in 15 boutique asset managers or placement agents and has a market cap of $522 million.
- Sarah Thompson, Kanika Sood and Emma Rapaport
UBS valuations on up-for-sale BHP mines excessive, says Bell Rock
The secretive London fund says it does not want a situation where Whitehaven uses a high valuation “to sell a bad deal”.
- Kylar Loussikian and Peter Ker
Defamation laws – not ASIC – are the biggest concern: short sellers
Active and retired short sellers say defamation laws are a bigger threat than an overzealous regulator after Viceroy’s Gabe Bernarde detailed his ASIC raid.
- Jonathan Shapiro
This analyst shorted Wirecard. Then ASIC raided his house
After a two-year tussle, Viceroy Research’s Gabriel Bernarde opens up about how the corporate regulator came to his home as it cracked down on activist investors.
- Jonathan Shapiro
- Opinion
- Online trading
The world’s largest hedge funds see opportunities in Australia
Multi-manager hedge funds are eating the industry. Now, they’re ready to have another crack here in their insatiable hunt for talent and for markets to exploit.
- Jonathan Shapiro
September
Surging bond yields leave investors in ‘fear stage’
Pershing Square Capital’s Bill Ackman says he would not be shocked to see 30-year Treasury yields well into the 5 per cent barrier.
- Ye Xie
Regal withdraws Pacific Current takeover bid
Regal has walked away from its bid for boutique asset management house Pacific Current citing frustration with the process, sending Pacific Current shares down 10 per cent.
- Jonathan Shapiro
Hedge funds cut stock leverage at fastest clip since 2020 crash
From retail investors to rules-based systematic traders, appetite for equities is subsiding after a 20 per cent rally this year that was fuelled by hype around artificial intelligence.
- Lu Wang and Denitsa Tsekova
Hedge funds reposition as Millennials drive markets
The handover from baby boomers to millennials will transform financial markets. Hedge funds and institutions are trying to work out how.
- Jonathan Shapiro
