Stanley Druckenmiller prepares to close down Duquesne Capital Management

Stanley Druckenmiller recently announced his decision to retire as a hedge fund manager and close his Duquesne Capital Management hedge fund, citing his inability to meet his own expectations and the personal toll of working as a fund manager.
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Michael Lau to spin-off Candlewood Investment Group from Credit Suisse

In late September of this year, Credit Suisse Group AG will spin-off two credit hedge funds in response to new regulations that limit the amount of capital that banks may lend hedge funds. According to Bloomberg, the Candlewood Special Situations and Candlewood Credit Value hedge funds will be spun-off as Candlewood Investment Group.

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Top hedge fund firm launches of 2010 YTD raise over $700 million

The first six months of 2010 have seen a number of new firm foundings, fund launches, and spin-offs in the hedge fund world, some led by a new generation of young managers and others headed by industry veterans looking to start anew or reassert their investing prowess. But the figures from this year’s halfway point also mark an adjustment to the norms of hedge fund launches. The most noticeable changes are the dramatic fundraising difficulties facing hedge fund managers worldwide: so far this year, not one new hedge fund firm has launched with close to $500 million in assets under management, not to mention anything comparable to the $1 billion raised by Roc Capital Management and its founder Arvind Raghunathan or the $800 million Tony Chedraoui raised for the Tyrus Capital LLP launch last year.

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John Paulson’s hedge fund loses 6.9% in June

Paulson & Co.’s Advantage Plus hedge fund logged a 6.9% loss for the month of June, bringing its YTD performance down to -8.8%.
http://www.hedgetracker.com/paulson.php

Aswath Damodaran discusses US financial overhaul

Industry expert and top NYU Stern professor discusses the financial overhaul that Obama is expected to sign into law in the next few days. Not surprising, Damodaran is not very confident in the bill. http://www.hedgetracker.com/article/Damodaran-discusses-the-US-financial-overhaul

A short guide to the history Hedge Funds

The Wall Street Journal recently published a great article on the history of the hedge fund industry. This is a must read for hedge fund enthusiasts, industry job seekers and hedge fund investors. Enjoy!
http://online.wsj.com/article/SB10001424052748703302604575294983666012928.html

Global Macro Hedge Funds

I find Global Macro hedge funds to be very fascinating, as they tend to make large bets on macro economic themes. When hedge funds most commonly only invest in equity and debt securities, macro funds invest in a wide array of securities across all asset classes. Amazingly, a number of macro funds never invest in equities.

Here is a recent article about some major macro investors. My favorite is Brevan Howard. Its pretty incredible how they are able to achieve high returns with such a large asset base ($20bn+): http://www.hedgetracker.com/article/Top-Global-Macro-Hedge-Funds-Brevan-Howard-Asset-Management-Round-Table-Investment-Management-Balestra-Capital

For a list of top global macro hedge funds, including George Soros, as well as a definition on how they invest, check out:
http://www.hedgetracker.com/directory/Global-Macro