The price of an ounce of gold for December delivery increased more than 2% in Friday trading, following a decrease of more than $190 .
Six Democratic House leaders who deal with financial services issues, including Rep. Barney Frank, D-Mass., Friday expressed “outrage” over a news report that some hedge funds have tried to convince companies that service mortgages not to take advantage of legislation aimed at reducing foreclosures, because it would hurt their mortgage investments.
In another sign that the housing turmoil continues to deepen, foreclosure activity surged more than 70% in the third quarter from the same period a year ago, according to the latest data from RealtyTrac of Irvine, Calif.
Hedge fund data-gatherers have started rolling out the grim numbers from September, a month being dubbed the worst month in the history of the shrinking industry.
The housing crisis showed no signs of rebounding in September as construction of homes dropped to its slowest pace since early 1991, and building permits for new homes fell to their lowest level in almost 27 years.
If preliminary data on hedge fund redemptions for September are any indication, the $1.9 trillion industry could be scrambling to honor a flood of withdrawal requests at the end of the year.
San Francisco hedge fund MedCap Management & Research LLC and its principal, Charles Toney, were charged today by the Securities and Exchange Commission with reporting misleading results by “portfolio pumping.”
Raymond James & Associates Inc. analyst Paul Puryear upgraded eight real estate investment trusts today in the belief that the recent sell-off in the sector has been overdone.
The $1.9 trillion hedge fund industry has gone on the defensive following a recent statement by Italian finance minister Giulio Tremonti, who suggested a move to abolish the alternative-class investments in Italy.
The Permal Group, a hedge fund group owned by Legg Mason Inc., plans to raise up to $500 million to purchase distressed hedge fund holdings.
The latest data, released today by ForeclosureRadar.com, show the number of default notices filed against California homeowners plummeted 61.8% in September from August, and slipped 36.4% from a year ago.
A temporary ban on short selling the stock of more than 800 banks and related financial companies expired at midnight, much to the satisfaction of the hedge fund industry.
In a sign that buyers are responding to low home prices and more affordable interest rates, the pending home sales index saw a 7.4% boost to 93.4 in August, according to the National Association of Realtors.
Hedge funds are absorbing their share of the market woes, according to the latest performance data from Hennessee Group LLC in New York, which show a 6.2% decline for the alternative strategies in September.
Despite the credit turmoil this year, U.S. private-equity firms are on pace to exceed last year’s capital-raising totals, according to a new report.
Hedge fund managers and other short sellers will have to continue to work around an emergency SEC rule that prohibits short selling of more than 800 banks and related financial companies — but the prospect of a permanent ban has the industry up in arms.
Research on the often opaque hedge fund industry is about to get a little easier for qualified investors because of a new online platform.
Hedge funds had their worst month in a decade in September because of short selling restrictions, the liquidity crunch and stock volatility.
As the stock market continues its pattern of record-level volatility, the hedge fund industry stands perplexed over a targeted ban on short selling that was supposed to help the markets find some equilibrium.
Equity real estate investment trusts continue to outperform the broader market in today’s volatile environment.
