Russian Consul In Athens Found Dead

According to reports in the Greek press, on Monday the head of the Russian Consular service in Athens was found dead in his apartment in downtown Athens.

Art Cashin's 2015 Summary: From Caitlyn Jenner To Confederate Flags

Two Thousand Fifteen had high hopes at the start, but a sharp selloff in August nearly ripped us apart; Then Draghi and Yellen swore that hope hadn't departed, so we stuttered and sputtered to just get back where we started.... Hoverboards were this season's really, really hot toy; And Bruce Jenner's now Caitlyn - he's no longer a boy

The American Nightmare: The Tyranny Of The Criminal Justice System

Justice in America is not all it’s cracked up to be. On paper, you may be innocent until proven guilty, but in actuality, you’ve already been tried, found guilty and convicted by police officers, prosecutors and judges long before you ever appear in a courtroom. Chronic injustice has turned the American dream into a nightmare.

Black Box Trading: Why They All “Blow-Up”

Strong Conviction + Low Volatility + High Levels/Low Costs of Leverage [irrespective of Dodd-Frank] + More Absolute Capital at Risk + Increased Concentration of “At Risk” capital + “Doing the Same Thing" = combustible market cocktail.

Frontrunning: March 1

  • China’s Holdings of Treasuries Dropped in ’11 (BusinessWeek)
  • Bundesbank at Odds With ECB Over Loans (FT)
  • Euro zone puts Greece's efforts under microscope (Reuters)
  • Bank of America Considers a Revamp That Would Affect Millions of Customers (WSJ)
  • In Days Leading Up to MF Global's Collapse, $165 Million Transfer OK'd in a Flash (WSJ)
  • Greece Approves Welfare Cuts for 2nd Bailout (Bloomberg)
  • Irish Minister Pushes to Cut Bail-Out Cost (FT)
  • China to Support Tech Sectors (China Daily)
  • Spanish Bond Yields Fall in Debt Auction After ECB (Reuters)
  • China to Expand Cross-Border RMB Businesses (China Daily)
Leo Kolivakis's picture

Save The World?

Hooked up with a buddy of mine who flew into town. Our interesting conversation covered blogging, bankers and regulation, BRICs, oil, interest rates, deflation, the next crisis, Greece and the Greek bailout, ratings agencies, Canada, and lots more. Enjoy!

Fibozachi's picture

We thought it is as good a time as ever to turn our attention back towards the hedge fund hot potato that is Freeport-McMoRan (FCX). Unfortunately, for longs, the technical picture appears to be rapidly deteriorating, developing an increasingly bearish profile ... this powder keg becomes especially apparent when viewed alongside an extremely high institutional sponsorship ratio of 79.8% ...

Leo Kolivakis's picture

Hedge Fund Heave-Ho?

Like I said at the start of this post, the world is awash with liquidity, so keep buying them dips and pay attention to the hedge fund heave-ho. It looks like things are getting bubbly all over again.

Hedge Fund Performance Update

ESL/lampert; mtd +17.50 ytd +8.61
D.E shaw; mtd +0.30 ytd +6.05
Qvt; mtd +0.01 ytd +1.60
Goldentree credit opp; mtd +13.52 ytd +26.71
Tpg credit; mtd -0.26 ytd +1.95
Amber(class r-3 series 1); mtd -9.00 ytd -3.17
Amber(class j); mtd +7.08 ytd +4.67
Satellite; mtd +2.50 ytd +6.52
Chilton small cap; mtd +5.94 ytd +17.94
Highbridge long/short eq; mtd -1.11 ytd +5.55
Bellman walter; mtd +1.34 ytd -1.21
Gandhara; mtd +1.74 ytd -3.88
Goldman sachs investment partners; mtd +1.55 ytd +6.49
Tci ; mtd -2.06 ytd -7.30

Hedge Fund Secondary Market Update

Today's vomitfest in the markets apparently was greeted by holders of HF LP interests with a sense of utmost urgency/capitulation. In a nutshell - not a single bid, and over $150 million in ask interest just on Feb. 21. Among the more notable parties on the selling block:

SAC Multi Strat - $15 mm
Eton Park - $7 mm
Atticus - $20 mm
Pershing Square - $20 mm
Conatus - $20 mm
Wexford (Spectrum and Catalyst) - $30 mm

If anyone has color as to where these clear we would be very interested.