Judge Rejects Bankruptcy for 2 Hedge Funds
Source: The New York Times
A federal judge yesterday denied Bear Stearns bankruptcy protection for two failed hedge funds it managed, but granted the investment bank 30 days to refile before investors can seize assets. More...

Young high-end homebuyers looking for more extras in Hamptons
Source: Newsday.com
Joe Farrell of Bridgehampton's Farrell Building Co. notices a trend toward younger buyers, particularly hedge-funders, in the Hamptons high-end real estate market. "I recently sold a house for $14 million to a 29-year-old," he tells Hampton Style in the magazine's August 17th issue. More...

Macquarie Fortress faces losses of up to 30 per cent
Source: The Sydney Morning Herald
THE troubled Macquarie Bank hedge fund Macquarie Fortress has confirmed it has lost more than 27 per cent of its value and stands to lose even more this month as it deals with the continuing credit crisis. More...

New Regulations Governing Hedge Fund Managers
Source: Moneyweb
The Alternative Investment Management Association - South Africa Chapter welcomed the regulations governing hedge fund managers published by the Financial Services Board yesterday. “We have been working with the FSB and other industry organizations for more than two years and our efforts have come to fruition today,’ said Ian Hamilton, Chairman of the AIMA – South Africa Chapter. More...


More of Today's Stories continued below...  or  Today's Stories unabridged on the web

Short sellers panicked over Bombardier
Source: TheStar.com
Last Tuesday we had that scary selloff. Near the close the Dow was off 280 points, the S&P 500 was negative 34 and the TSX composite was down more than 200. I nervously scanned the ticker tape for anything that was up on the day and found only a handful of income trusts posting small gains. More...

Taiwan relaxes short-selling restrictions
Source: FinanceAsia.com
The Taiwan Stock Exchange is to increase the number of stocks that can be shorted from next week. Stock exchange chairman, Rong I-Wu, told FinanceAsia that shorting restrictions would be lifted on the 100 stocks that comprise the TSEC Taiwan Mid-Cap 100 Index and exchange traded funds. More...

US STOCKS-Wall St indexes jump, await Bush, Bernanke
Source: Reuters
U.S. stocks rose on Friday, fueled by a sharp advance in financial services companies on hopes President Bush would unveil a plan to alleviate the subprime mortgage crisis and loosen credit conditions that have rattled financial markets. More...

Index Universe Interviews Executive Director of Dow Jones Indexes, John Prestbo
Source: SeekingAlpha
Index Universe: What has been the most notable change in the indexing industry over the years?

Prestbo: I think it's the pace. When Dow Jones decided to make indexes a business unit it was a pretty sleepy community that we were joining. The players in it were S&P and Russell and FTSE and MSCI, and they'd been in for a while. More...