Tags: Barack Obama, Dubai World, George Soros, Hedge funds, Insider Trading, Lehman Brothers, Louis Bacon, Moore Capital, Mortgage loan modifications, mortgages, Politics, UK
Just as word of GLG problems emerge, their former star trader who resigned in April with the intention of starting his own fund signed on with GLG neighbor Moore Capital as co-chief investment officer of Moore Europe. And he won't be moving very far from his old firm, which is located in the same building as Moore.
Tags: GLG Partners, Hedge funds, Moore Capital, Revolving Door
The team of Canadian traders picked up last year by Moore Capital after the spectacular collapse of hedge fund Amaranth have been given the boot for poor performance. They were based in Toronto.
Moore announced that it is closing down the
office in a statement obtained by HedgeWorld. Approximately 15 people were laid
off on Dec. 12, said a person familiar with Moore’s operations. In plain
language, the traders did not make money on the books they managed.Louis Bacon runs Moore Capital, a New
York-based hedge fund with more than $13 billion in assets. Following Amaranth’s
September 2006 meltdown, Moore created Moore Canada, a new unit based in
Toronto. Manos Vourkoutiotis, a former top executive and trader at Amaranth, was
named to head up the new unit. A team of several senior traders joined Mr.
Vourkoutiotis, nine of whom were from Amaranth Advisors Canada
Tags: Amaranth, Hedge funds, Moore Capital, Revolving Door
November proved to be a totally nasty month for many hedge funds. And a Canadian hedge fund started last year by Moore Capital and the traders that they hired out of the carcass of Amaranth after it imploded was one of them that got stung:
A group of former Amaranth Advisors LLC
traders, recruited last year to start a Canadian hedge-fund unit for Moore
Capital Management Inc., lost 15 percent in November, two people with knowledge
of the firm said.The Toronto-based unit, which managed $1 billion before the decline, opened a
year ago to invest money for other Moore funds. It is overseen by Manos
Vourkoutiotis, who was hired by the New York-based firm after Amaranth collapsed
in September 2006. Last month’s performance was hurt by stock and
convertible-bond bets.
Tags: Amaranth, Hedge funds, Moore Capital
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