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Big name Hedge Funds are in trouble too!
One hedge fund expert pointed to The Hedge Fund Implode-O-Meter (HFI) as how he judges the state of the industry. The HFI was set up online in the wake of the credit crunch "to track as hedge funds learn the double-edged-sword nature of the often extreme leverage they use".The group's "imploded funds" list has hit 51 companies since the sub-prime mortgage crisis in the United States kicked off a widespread downturn. That compares with its historical list, stretching back more than a decade to the end of 2006, of just 14, including the collapse of Long-Term Capital Management and Amaranth. This year, big names including Peloton Capital Partners, Carlyle Capital Corporation and Dillon Read Capital Management are just some of the half century to collapse. "We think hedge funds have largely lost their way," HFI said. "Notably, most have abandoned capital-preservation for the goal of aggressive accumulation of capital gains, with the benefit of lax regulation and extreme leverage available to exploit." It has 34 stocks on its "ailing/watch list" of those that have suffered significant value declines or temporarily halted redemptions. According to EuroHedge, a hedge fund data provider, 272 individual funds strategies were launched during the first six months of 2008, the lowest for nine years. In the same time, 243 funds have been liquidated, the highest in a six-month period. To remind people. Wikipedia discusses The Carlye Group here Principals: Key people Louis V. Gerstner, Jr., Chairman William E. Conway, Jr., Founder Daniel A. D'Aniello, Founder David M. Rubenstein, Founder John F. Harris, CFO Controversy Connections between the Carlyle and the Bush family have created controversy, particularly in relation to the War on Terror and the Iraq War. George H. W. Bush and his Secretary of State James A. Baker III have at times been advisors to the group. One writer claimed that Saudi Arabian interests have given $1.4 billion to firms connected to the Bush family. Of this figure, $1.18 billion comes from contracts awarded to defense contractor Braddock, Dunn & McDonald, which Carlyle sold before George H. W. Bush became an advisor.[23] A Carlyle spokesman noted in 2003 that its 7% interest in defense industries was far less than several other Private equity firms.[24] The group has in the past had links with the Bin Laden family, although the group argues investment was relatively minor and made by relatives including half brother to Osama Bin Laden who had "disowned" him. [25] Notable current and former employees and affiliated persons Business * G. Allen Andreas - Chairman of the Archer Daniels Midland Company * Daniel Akerson - company director * Joaquin Avila - investment banker * Laurent Beaudoin - CEO of Bombardier (1979-) * Paul Desmarais - Chairman of the Power Corporation of Canada * Arthur Levitt - former Chairman of the U.S. Securities and Exchange Commission * David M. Moffett - CEO of Freddie Mac, unilateral appointment by Treasury Secretary, Henry M. Paulson Jr., September 7, 2008. * Karl Otto Pöhl - former President of the Bundesbank * Olivier Sarkozy (half-brother of Nicolas Sarkozy, President of France) - co-head and managing director of its recently launched global financial services division, since March 2008 [26]. * Jeffrey Chen- CEO of ASE-Taiwan * Jason Chen- Chairman of ASE Group Political figures North America * George H. W. Bush, former U.S. President, Senior Advisor to the Carlyle Asia Advisory Board from April 1998 to October 2003. * George W. Bush, current U.S. President. Was appointed in 1990 to the Board of Directors of one of Carlyle's first acquisitions, an airline food business called Caterair, which Carlyle eventually sold at a loss. Bush left the board in 1992 to run for Governor of Texas. * James Baker III, former United States Secretary of State under George H. W. Bush, Staff member under Ronald Reagan and George W. Bush, Carlyle Senior Counselor, served in this capacity from 1993 to 2005. * Frank C. Carlucci, former United States Secretary of Defense from 1987 to 1989; Also, former Princeton wrestling partner of former US Secretary of Defense, Donald Rumsfeld. Carlyle Chairman and Chairman Emeritus from 1989 to 2005. * Richard Darman, former Director of the U.S. Office of Management and Budget under George H. W. Bush, Senior Advisor and Managing Director of The Carlyle Group from 1993 to the present * Randal K. Quarles, former Under Secretary of the U.S. Treasury under President George W. Bush, now a Carlyle managing director * Allan Gotlieb, Canadian ambassador to the United States (1981-89) and member of Carlyle's Canadian advisory board. * Arthur Levitt, Chairman of the U.S. Securities and Exchange Commission (SEC) under President Bill Clinton, Carlyle Senior Advisor from 2001 to the present * Dan Senor - political consultant * Peter Lougheed - Premier of Alberta (1971-85) * Luis Téllez Kuenzler, Mexican economist, current Secretary of Communications and Transportation under the Felipe Calderón administration and former Secretary of Energy under the Zedillo administration. * Frank McKenna, Canadian ambassador to the United States and former member of Carlyle's Canadian advisory board Europe * John Major, former British Prime Minister, Chairman, Carlyle Europe from 2002 until 2005 [edit] Asia * Liu Hong-Ru, former chairman of China's Securities Regulatory Commission * Anand Panyarachun, former Prime Minister of Thailand (twice), former member of the Carlyle Asia Advisory Board until the board was disbanded in 2004 * Fidel V. Ramos, former president of the Philippines, Carlyle Asia Advisor Board Member until the board was disbanded in 2004 * Thaksin Shinawatra, deposed Prime Minister of Thailand, former member of board, who resigned on taking office in 2001 Middle East * Shafig bin Laden, older brother of Osama bin Laden Media * Norman Pearlstine - editor-in-chief of Time magazine from (1995-2005) Posted by: 3dc 2008-09-24 |
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