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'The Big Short' hero said to launch new fund

The Big Short Book Cover

The hedge-fund firm run by Greg Lippmann, a mortgage trader whose bets against the U.S. housing market were depicted in Michael Lewis’s 'The Big Short', plans to launch a new fund early next year, according to a person with knowledge of the matter.

Hedge funds see surge in closures

Hedge Fund

Hedge fund closures surged in the three months to the end of September as money managers reeled from declines in commodity and equity markets, while high-yield credit spreads widened.

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Former Goldman Sachs trader settles fraud charges

The Securities and Exchange Commission announced that the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs has agreed to be barred from the securities industry and pay $400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.