President Donald Trump has named Lieutenant General Herbert Raymond McMaster to be his new national security adviser, again turning to the U.S. military to play a central role on his foreign policy team. Trump also named Keith Kellogg, a retired U.S. Army General, as chief of staff to the National Security Council.
"It's stunning to me to think you would pay more than 2 percent," said Marc Levine, chairman of the Illinois State Board of Investment, which has reduced its use of hedge funds. "That creates a huge hurdle to have the right alignment of interests."
Without much fanfare at all, on Friday Citadel announced it would pay $22.6 million to settle allegations that it "misled clients about pricing trades", a euphemism for it was frontrunning its clients.
Dan Loeb will pay Matt Ober, a quant, pardon "data scientist" who left WorldQuant for Third Point more than $2 million according to a breach of contract claim filed by his former employer. Ober, 32, will start next month as Third Point’s "chief data scientist."
The Bank of Japan is set to become the biggest buyer of exchange-traded funds in 2016 for the second straight year. According to data through Thursday, the value of the BOJ's ETF purchases this year has topped 4.3 trillion yen, up 40% from 2015. As a result, the BOJ "will become the largest buyer of ETFs this year," according to Mizuho Securities.
Another day, another prominent hedge fund shutters it doors in less than a year after launching a world in which investors increasingly skip "active investing", and instead give their cash to far cheaper, and far more effective - if only for the time being - "passive" strategies.
Last Wednesday’s order sparked a frenzy of superfast trading as other market participants piled in and a total of $3.4 billion worth of E-minis changed hands within two seconds. Here is a "deep dive" look into what happened.
On Sunday, the Islamic State retook the desert city of Palmyra in Syria for the second time in two years after being driven out of the city hours earlier by heavy Russian aerial attacks, a group monitoring the country's conflict reported.