Louis Moore Bacon, the billionaire hedge fund manager whose macroeconomic bets on currencies, interest rates and other securities earned his Moore Capital Management LP double-digit returns over 30 years, will stop investing for outside clients, according to a letter sent to investors on Thursday.
Firefly Value Partners on Thursday asked Gulfport Energy for a seat on its board and criticized the "half-measures" which the U.S. gas exploration and production company is taking to improve its financial performance.
Investors pulled approximately $3.4 billion out of mutual funds and exchange traded funds that hold U.S. equities last week, extending the largest sustained pullback from the domestic stock market in more than a year, according to data released Wednesday by the Investment Company Institute.
Sovereign wealth funds regained their appetite for equities in the third quarter, piling into passively managed stocks in the United States and equities in mainland China and elsewhere, according to eVestment data.
Specialized fund managers who pioneered green investing for decades are missing out on some of the spoils as the sector goes mainstream and large firms move in.
