Tags: Barack Obama, Bonuses, Compensation, Goldman Sachs, Hedge funds, lawsuits, Philippe Jabre, Porsche, Short squeezes
Tags: Canyon Partners, Citadel, Jim Simons, Oaktree, Philippe Jabre, Renaissance Technologies, Stanley Druckenmiller
The 13F hedge fund chart studies we track were updated over the weekend. You can find them here.
Tags: 13F Charts, Appaloosa, Atticus, Baupost, Carl Icahn, Clarium Capital, Dan Loeb, Dave Tepper, Farallon, George Soros, GLG Partners, Greenlight Capital, Harbinger, Hedge funds, MatlinPatterson, Maverick Capital, Och Ziff, Passport Capital, Paulson & Co, Pequot Capital, Perry Capital, Philippe Jabre, Ramius, SAC Capital
Here are charts for the stocks in the just released 13F for Philippe Jabre's Jabre Capital:
Tags: 13F Charts, Charts, Hedge funds, Philippe Jabre
Another hedge fund is laying off staff: With the horrendous state of the convertible bond market, Philippe Jabre's Jabre Capital has cut nine employees in Geneva and shuttered its Singapore office:
Tags: Credit Crunch, Hedge funds, Philippe Jabre, Revolving Door
Over the past couple of weeks, many large funds like Harbinger, GLG and Jabre Partners have been forced to disclose big short positions in UK stocks due to new rules generated by the FSA. Darren Fox, partner at London lawyers Simmons & Simmons, has doubts about whether those rules would stand up in court and suggests that they could be challenged on several grounds. "The making of this rule is best described as legally ‘questionable", he told FinancialNews.
“Despite the fact that it purports to
form part of the Code of Market Conduct, the FSA has introduced part of the new
(shorting) provision as a ‘rule’,” Fox said. The Code, he added, is meant to
consist of ‘guidance’, not ‘rules’. “The FSA simply does not have the
power to make ‘rules’ within the Code," said Fox.
Lawyer casts doubt over FSA shorting rule - FinancialNew Online
Tags: FSA, Harbinger, Hedge funds, Philippe Jabre
All charts were updated for the last trading day of last week, 7/3
Tags: 13F Charts, Appaloosa, Carl Icahn, Charts, Dan Loeb, Dave Tepper, Eton Park Capital, Farallon, Greenlight Capital, Harbinger, Hedge funds, John Burbank, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Paulson & Co, Perry Capital, Philippe Jabre, SAC Capital
We updated all of the 13F charts this weekend. In addition, Soros’ top 200 positions have been added, as well as Blue Ridge Capital.
The link is here.
Tags: 13F Charts, Appaloosa, Avenue Investments, Bill Ackman, Carl Icahn, Charts, Dan Loeb, Eton Park Capital, George Soros, Greenlight Capital, Harbinger, Jana Partners, John Burbank, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Paulson & Co, Perry Capital, Philippe Jabre, SAC Capital
The sky is falling!: The voices of gloom and doom were loud today as not only did Paulson & Co’s John Paulson make comments at the GAIM International 2008 conference that the credit crunch isn’t over and RBS issued a global stock and credit market crash warning for the next three months, but Philippe Jabre’s Jabre Capital also believes that the market is going lower. In comments also made at the GAIM conference, they believe that forced redemptions will hit the market after June. According to a Reuters report:
Tags: Credit Crunch, Hedge funds, Philippe Jabre
We’ve added the following 13F chart studies:
All of them can be found here.
In addition, all of the original chart studies were updated as of Friday’s close. They can also be found at the above link.
Tags: 13F Charts, Activist Investing, Appaloosa, Atticus, Bill Ackman, Carl Icahn, Eton Park Capital, Greenlight Capital, Harbinger, Hedge funds, John Burbank, Lone Pine Capital, MatlinPatterson, Metropolitan Capital, Och Ziff, Passport Capital, Paul Tudor Jones, Philippe Jabre, SAC Capital
Geneva based hedge fund bad boy Philippe Jabre is looking to raise money for another hedge fund according to the Financial Times. :
Jabre Capital, the hedge fund group founded
late last year by Philippe Jabre, the star hedge fund manager from GLG Partners
who was given a record individual fine of £750,00 by the UK regulator, is
raising a second hedge fund.The JabCap Mangousta fund, an open-ended
long-short fund with a bias to mid-cap European companies, is to be launched in
early December and is expected to raise up to €500m (£347m).It will be managed by Renaud Saleur, who
was recruited from GLG earlier this year where he ran a similar fund. Mr Saleur
will manage the fund under the eye of Mr Jabre who is the group’s chief
investment officer.While at GLG, Mr Jabre received the highest
individual fine issued by the Financial Services Authority for trading on
confidential information from Goldman Sachs about a 2003 convertible bond sale.
Since setting up Jabre Capital, Mr Jabre has recruited a number of former
colleagues from GLG.
Jabre raising second hedge fund – Financial Times
Tags: Hedge funds, Philippe Jabre
The hedge fund that trader Philippe Jabre
set up after he received a record fine for market abuse from the U.K.’s market
regulator is making money during the current market turmoil, underscoring how
some hedge funds have avoided losses or even made hay during the same woes that
have closed some of their peers.Jabre Capital Partners, which began trading
at the beginning of February, was up over 9% through mid-July, according to
people familiar with the matter. It was up around 2.5% in the first half of
July. But, as markets became volatile, on investor worries over weak credit
markets, the fund’s returns pulled back to finish the month up about 1.5%.The fund, which launched with $3.5 billion
in investments, was one of the largest new hedge fund launches this year. It
trades across equity and debt markets but is able to go short, or borrow and
sell a security to profit from a decline in its price.
Jabre Hedge Fund Thrives Amid Turmoil – Wall Street Journal
Tags: Hedge funds, Philippe Jabre
Christmas has come a bit early for sixteen of GLG Partners’ top traders as well as other staff members. The lucky sixteen were rewarded with an 11% stake ($400 million) in the newly public company which is worth an estimated $25 million a piece. In addition, they’re receiving large cash payments with each of the recipients agreeing to invest 50% back in the firm. 10 million shares will also be held for possible distribution to other staff members. According to GLG CEO Noam Gottesman: “Everyone in the business will benefit, including the receptionists.”
In addition, GLG’s elite will receive a
windfall of $150m between them in one of the richest pay deals seen recently.
GLG, one of Europe’s biggest hedge funds with $20 billion of assets under
management, listed in America with a market capitalisa-tion of $3.5 billion.
Tags: Bonuses, Compensation, GLG Partners, Hedge funds, IPO, Philippe Jabre
After getting fined by the UK’s FSA to the meager tune of $1.48 million for his alleged insider trading, an embarrassingly low amount for all of the FSA’s work, former GLG star trader Philippe Jabre has emerged largely unscathed with a hot new hedge fund based in Geneva.
Today, Jabre runs a firm called Jabre Capital Partners from an office on Rue du
Conseil-General, next door to a used-camera shop and down the road from a McDonald’s. It’s far from fashionable Rue du Rhone, where Genevese private bankers discreetly tend fortunes and watchmaker Patek Philippe displays its diamond-studded wares.Behind this unassuming facade, Jabre has launched one of the hottest hedge funds to hit Europe in years. While Jabre Capital doesn’t disclose its assets under management, a person familiar with the firm says investors have pumped almost $3 billion into its funds. Half of the money has come from Jabre’s former clients at GLG Partners, which manages about $20 billion. The rest has flooded in from new investors lured by his record of making money.
Tags: GLG Partners, Hedge funds, Philippe Jabre
Investors don’t seem to really care about the FSA sanctions levied against former GLG Partners star Philippe Jabre (prior coverage is here) — with a great investment return track record, they’re throwing money his way nonetheless. His new Geneva based fund, which will be up and running next year after his non-compete with GLG expires, is attracting capital with no shortage of backers:
The fund, which could raise more than $2 billion, has commitments from investors and will be backed by at least one bank, the person said. Swiss bank UBS AG will act as the fund’s prime broker, according to the person familiar with the matter.
Tags: FSA, GLG Partners, Philippe Jabre
Former GLG star trader Philippe Jabre withdrew his appeal over the £750,000 fine levied against him by the FSA over alleged insider trading, handing the regulator a rare victory. Next, he’s likely to be banned from trading in the City.
"Although Mr. Jabre disagrees with the FSA’s decision, he considers he had a fair hearing before the Regulatory Decisions Committee and he accepts its decision," a statement issued by the former GLG Partners manager said.
"All it means is he’s accepted the original decision by the FSA," said Richard Campbell, Mr. Jabre’s spokesman. "That means paying the fine and getting on with his life."
Tags: FSA, GLG Partners, Philippe Jabre
Confirming what many had suspected, former GLG Parners star trader Philippe Jabre is opening his own firm, Ballena Capital, to manage his own fortune….
Tags: FSA, GLG Partners, Philippe Jabre
After lengthy and acrimonious negotiations Philippe Jabre has severed his ties to GLG Partners. The terms are under wraps, but it’s believed that Jabre gave up a stake in GLG worth at least £160 million. Jabre and GLG were both fined a paltry £750,000 in March over alleged insider trading charges; Jabre is appealing his fine while GLG has decided not to….
Tags: FSA, GLG Partners, Philippe Jabre
Dogged by poor performance of bond investments in downgraded auto makers General Motors and Ford, which caused investors to flee from one of GLG Partners’ flagship credit funds, its manager, Jean-Michel Hannoun left the firm last Monday….
Tags: FSA, GLG Partners, Philippe Jabre
Despite the fact that his former firm, GLG Partners, has decided not to fight the relatively paltry $750,000 fine that was levied against them for alleged insider trading, star hedge fund trader Philippe Jabre has decided to fight his fine of the same amount. That has to be pretty mortifying to the Financial Services Authority, which was only able to levy that embarrassingly itty bitty fine. They would no doubt like to see this thing just go quietly away but that ain’t gonna happen….
Tags: FSA, GLG Partners, Philippe Jabre
We noted yesterday that the £750,000 fines ultimately levied against GLG and its former director/star trader Philippe Jabre were pretty paultry — an amount that’s barely a slap of the hand given how much those guys pull in. All things considered, they have to be pretty pleased. And the Financial Service Authority knows it; it’s turned their victory into a hollow one. They apparently sought £4 million in penalties instead of the £750,000 that each GLG and Jabre were fined….
Tags: FSA, GLG Partners, Philippe Jabre
The UK’s Financial Services Authority (FSA) has finally rendered its much anticipated decision. GLG former star trader Philippe Jabre and his firm were each fined £750,000 for their alleged insider trading, but Jabre was not banned from the industry. While the fines are the largest ones ever imposed by the FSA, it sounds like chicken feed by our standards – only $1.32 million a piece which won’t leave them tightening their belts a whole lot. They must be heaving a huge sigh of relief to have received what seems, at least at first blush, like a hand slap.
Tags: FSA, GLG Partners, Philippe Jabre
As if GLG Partners didn’t have enough problems with its star trader (or should we now say, former star trader?) Philippe Jabre under assault by both UK and French regulators over alleged insider trading allegations.
Now trades by one of GLG’s other founders are coming under attack as well. French regulators are apparenly looking into trading in two GLG funds, one managed by GLG co-founder Pierre Lagrange, to see if they also might have benefitted by inside information.
Tags: FSA, GLG Partners, Philippe Jabre
GLG star trader, Philippe Jabre, under assault by regulators in both the UK and France, is unlikely to be returning to GLG regardless of the outcome of the investigations into his trading according to what the other two fund founders, Noam Gottesman and Pierre Lagrange, are telling investors.
Tags: FSA, GLG Partners, Philippe Jabre
Philippe Jabre, under investigation for insider trading, resigned last month as a director of GLG Partners according to filings….
Tags: FSA, GLG Partners, Philippe Jabre
13F Charts AIG Amaranth Autos Bank of America Bankruptcy Banks Barack Obama Barclays Bear Stearns Ben Bernanke Bernie Madoff Blackstone Bonuses Carl Icahn Charts Citigroup CNBC Compensation Credit Crunch Distressed Economy Fed GM Goldman Sachs Hedge funds Henry Paulson Hookers Insider Trading investment banking Jamie Dimon JPM Chase JP Morgan Lawsuit Legal Lehman Brothers Merrill Lynch Morgan Stanley Politics Private equity Real Estate Revolving Door SAC Capital SEC TARP
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.
Contact us / send tips: wsf@WallStreetFollyDOTcom
Follow us on Twitter: twitter.com/WallStreetFolly
Receive our posts via email:
Subscribe in a reader