Tuesday, November 13, 2007

WestLB Will Post Losses Because Markets Are Hard

WestLB said this afternoon that it will report a full-year loss of over $145 million (100 million+ euros) because “of persistently difficult market developments.'' Up until today, the Dusseldorf-based bank had been forecasting a profit. Profit, no profit—they’re pretty much the same thing, so it’s easy to see how one might confuse one for the other. LINK
The Revenge of Quantocide?
DE Shaw's hard drive did not return requests for comments.

AQR Denies Something Or Other

The flacks for AQR Capital Management have been working overtime, denying reports of redemptions, losses and a scrapped IPO.

..."In our long-only funds, all funds are up, in the single digits or double," said AQR in a statement. "Among our hedge funds, some are up in the double digits, while are few are down but only in the single digits, though one hedge fund, which represents less than 1 percent of our AUM, is for the moment down in the double digits."