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Wednesday's Headlines: Wealthy investors list favorite hedge fund managers

Wealthy investors trust Paul Singer, Robert Zoellner, Kyle Bass and Israel Englander more than other hedge fund managers, according to a survey by Tiger 21, an investment club whose 180 members have $15 billion in assets under management, according to Reuters.

Norman Miller, Richard Dowdle, David Einhorn, Andreas Halvorsen and John Paulson were also on the list.

"Traditionally, the wealthy share stocks tips and the names of their favorite investment advisors in private, but occasionally a small group of very wealthy investors give outsiders a peek into what they like and where they invested," Reuters writes.

The survey notes that real estate was the group's favorite investment class, followed by stocks and hedge funds.

Other News:

Goldman Sachs says French-bank related risks dropped 61 percent in Q3. [Bloomberg]

HSBC threatens to leave UK on new regulations; blames Europe for hurting global growth. [Reuters]

Convicted hedge fund manager Rajaratnam fined another $92.8 million for insider trading. [Financial Times]

Paul Volcker blames lobbyists for making Volcker rule too long and complicated. [Reuters]

Fannie Mae to seek $7.8 billion government assistance to cover derivatives losses. [Financial Times]

HSBC profits jumped 66 percent in Q3 but banks warns of trouble ahead. [DealBook]

European banks foil new capital rule by re-categorizing risky assets. [Bloomberg]

Goldman Sachs to raise up to $1.5 billion by selling ICBC stock. [Wall Street Journal]

Goldman Sachs traders lost money 21 days of third quarter. [DealBook]

Credit Suisse and UBS should be combined in joint venture, J.P. Morgan analyst suggests. [New York Times]

Former Citigroup Indonesia manager stole $5 million by duping clients. [Bloomberg]

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AUTHORDalia Fahmy Insider Comment

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