Israeli Hedge Fund Harnesses Big Data (Finalternatives)
Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv and has 360,000 researcher/analysts. If you’re picturing the HR nightmare this would entail, relax: those thousands of researchers and analysts aren’t actual employees of the firm, they’re people who share their investment tips online. And boy do they share—Apica Green has captured millions of online investment recommendations since 2004, thousands per day, from a wide variety of sources including both financial sites and social media outlets.
Ex-Citi FX trading head Prasad readies macro hedge fund- sources (Reuters)
Former global head of foreign exchange at Citigroup Inc (NYSE:C), Anil Prasad, is preparing to launch his own hedge fund in the first quarter of 2015, three sources familiar with the matter said. The launch comes as global regulatory changes restrict banks from trading with their own money, prompting so-called proprietary desk traders to strike out on their own. Prasad left Citi earlier this year. He will be joined by Farhang Mehregani, the former chief investment officer of Sciens Alternative Investments as one of the partners, two of the sources said.
Miura Global Closes Funds to New Investors (InstitutionalInvestorsAlpha)
New York-based hedge fund firm Miura Global Management is closing its funds to new investors, according to a letter sent to clients and obtained by Alpha. The firm will continue to accept money from existing investors and to “leave capacity for some ‘organic’ growth,” it said in its second-quarter letter. Miura Global is what’s known as a Tiger Seed because it received investment capital from hedge fund legend and Tiger Management founder Julian Robertson, Jr.
Steve Cohen Attends Party, Dresses Like A ‘Schlub’ (DealBreaker)
Something you probably know about Steve Cohen is that the last number of years have not been so kind to him. Almost a dozen of his employees have been charged with and convicted of securities fraud. The government won’t let him manage outside money. He had to rename his fund, rendering a warehouse full of SAC fleeces useless. No one will buy his apartment. The New York Times thinks his house is only 14,000 square feet. He just wrote a check for $848 million, money that could’ve gone toward Super Duper Weenie products or Guy Fieri cookbooks.
Marc Faber predicts 20% to 30% drop in stocks (CNBC)
Permabear Marc Faber said Monday he expects stocks to drop 20 percent 30 percent by October. “Don’t forget many stocks are already down 10 percent. The home builders are down roughly 15 percent. Airlines have just dropped around 10 percent,” he said on CNBC’s “Halftime Report.” Faber, publisher of the “Gloom, Boom & Doom Report,” also noted that several large-cap stocks were down by double-digit percentages.
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Daniel Och, Oz Management Disclose Massive Increase In Holding Of Rockwood Holdings, Inc. (ROC)
