Barry Sternlicht, the head of real estate investment firm Starwood Capital Group LLC, said there is an abundance of credit available, disputing a comment made by former U.S. Treasury Secretary Lawrence Summers about banks needing to do more lending to stimulate the economy.
Asian stocks rose, snapping a three- day loss on the regional benchmark index, as technology shares gained and a gauge of mainland Chinese shares traded in Hong Kong posted its biggest weekly advance in two years.
Hedge-fund managers including David Tepper, Ray Dalio and Daniel Loeb will help raise $5 million to fight poverty in New York by sharing some of their best trading ideas with attendees of the Robin Hood Foundation’s inaugural investors conference, said the charity’s executive director.
When Jennifer McCrea -- perhaps the best-connected fundraiser in Manhattan -- meets a billionaire to ask for money, she almost never schleps to his office, instead choosing neutral ground at a local coffee shop.
Steven A. Cohen, the billionaire whose hedge-fund firm SAC Capital Advisors LP agreed to plead guilty to securities and wire-fraud charges, will stay on the board of the Robin Hood Foundation, the organization said.
The best mentoring advice Ed Norton ever received was “don’t chase money,” he said last night within earshot of Third Point’s Dan Loeb, T2 Partners’ Whitney Tilson and Blue Ridge Capital’s John Griffin.