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UBS' Hedge Fund Losses

 
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Author UBS' Hedge Fund Losses
HenryTo
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PostPosted: Sun Jun 03, 2007 11:05 pm    Post subject: UBS' Hedge Fund Losses Reply with quote
UBS losing is aura of being a "safe" bank/money manager for high net worth individuals:

http://www.bloomberg.com/apps/news?pid=20601087&sid=au8.WfnnTJo0&refer=home

Quote:
Shareholders had no idea Dillon Read was anything but a success until May 3, when UBS suddenly pulled the plug. Although the unit made money for its first six quarters, Costas failed to raise capital fast enough after investors balked at his group's fees. Wuffli lost patience when Dillon Read stuck UBS with 150 million Swiss francs ($122 million) of first-quarter losses.
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rffrydr
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PostPosted: Wed Jan 30, 2008 1:30 am    Post subject: Reply with quote
Ouch...thought the mark-to-markit left room for suprises. Here it is, to the minus! Looks suspiciously like trading--hopefully "hedges" in the ABX


http://ftalphaville.ft.com/blog/2008/01/30/10573/another-shocker-from-ubs-a-record-q4-loss/
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rffrydr
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PostPosted: Sun Jun 03, 2007 11:20 pm    Post subject: Reply with quote
Long sub-slime. Just looking for leveraged yield at 20% commission--as safe as safe can be....
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