Basically, the way hedge funds work is, you try to have some "proprietary" information or analysis that is not already incorporated into market prices -- that gives you "edge" -- and then you use your proprietary edge to trade and make money.
Fidelity & Guaranty Life, the insurer owned by Philip Falcone’s Harbinger Group Inc., added Jefferies Group LLC as an underwriter for its initial public offering after the bank took a stake in Harbinger Group.
Jefferies Group LLC, the investment bank owned by Leucadia National Corp., said profit plunged 83 percent in the fiscal third quarter as trading revenue fell to the lowest since the depths of the financial crisis.
Jefferies Group LLC, the investment bank that posted an 88 percent decline in fixed-income trading revenue in the fiscal quarter ended Aug. 31, said it had 18 days of losses in the period, the most since 2011.
Jefferies Group LLC, the New York- based investment bank, hired Robert Keller from Deutsche Bank AG as a managing director to trade investment-grade credit, according to three people with knowledge of the matter.
Jefferies Group Inc. dropped as much as 11 percent in New York trading after Chief Executive Officer Richard Handler sold a $25.2 million stake in the firm to Leucadia National Corp., its largest stockholder.
Jefferies Group Inc., the investment bank that agreed to sell itself to Leucadia National Corp., paid Chief Executive Officer Richard Handler $19 million for fiscal 2012 and approved $39 million in restricted stock awards for the next three years.