How Much $$$ Can You Really Make on Wall Street?
Most people are familiar with Harbinger's woes by now, with the SEC charges and all.
Still can anyone tell me what happened to Stark Investments? This venerable Milwaukee based shop used to have one of the largest current AUM among hedge funds but has been bleeding capital rapidly and appears to be in a free fall. The firm now manages less than $1 B, having at one point had more than $14 B under management.
Would this illiquid investment possibly be some sort of robotic power-suit?
And do you think one of the major catalysts to redemption was the death of Don Cheadle?
They were hurt badly during the downturn then suffered an exodus of partners.
They just had to shut down their flagship multi-strategy fund, among other funds. I wonder how all of these affect their head counts.
If you think it's easy doin' one night stands Try playin' in a rock roll band
They had issues surrounding the liquidity of their investments. A lot of their funds were locked up in illiquid investments, the more liquid stuff had to be sold to meet redemption requests. When the bounce came, this harmed them as the remaining investments they had left were of a weaker quality than their original pre crisis portfolio. Also I think there were more general latent issues of style drift and too rapid growth that were tolerated by investors while performance was strong, but were another reason to exit when things got bad.
No comments:
Post a Comment