Sat, Aug 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Wall St ends day flat as New York starts post Storm Sandy recovery

Thursday, November 01, 2012

by Beverly Chandler, Opalesque London:

US stocks ended the day largely flat after the two day market suspension due to the attentions of Storm Sandy on the north eastern corner of the US this week. The iconic opening bell for the New York Stock Exchange was rung by New York City Mayor Michael Bloomberg as the exchange re-opened on Wednesday 31st October, having been closed for the longest time due to the weather since 1888.

The re-opening of this and other American exchanges left asset managers with just one day instead of three to balance their books for the end of the month and, for more than 20% of US mutual funds, to balance their books before the end of their fiscal year, according to Morningstar Inc.

Many hedge funds have their physical presence in Connecticut which was hit by the storm but appears to have survived with power at the least and intermittent connectivity in telephone and internet. A speaker at the Opalesque Roundtable Connecticut, Dr. Hanming Rao, Chief Investment Officer, Global Sigma Group, informed Opalesque that their office was functional and they expected to get their monthly update out within the week.

While other hedge fund firms emerged to report that their offices and disaster recovery plans were working, concerns were high regarding what would happen when the markets reopened. Criticism was levied at the US exchanges, described as 'the la......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  2. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  3. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  4. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde

  5. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added