Sentinel Management Files for Chapter 11 Bankruptcy之前就说不让他贱卖他的资产，现在他就直接干脆file for bankcruptcy了。
都是这次暴风雨遭的。不过本人对这些fund manager采取不同情态度。他们不把保护资产的安全放在第一位马？
Aug. 17 (Bloomberg) -- Sentinel Management Group Inc., a cash-management firm which froze client withdrawals three days ago, filed for bankruptcy after a judge sought to block it from selling assets to hedge fund company Citadel Investment Group LLC.
Sentinel, a Northbrook, Illinois-based firm that oversees $1.6 billion, stopped the withdrawals Aug. 14, causing brokers Farr Financial Inc. and Velocity Futures LP to sue.
Farr claimed the freeze blocked access to client funds. Velocity, joining the suit today, sought to keep its own clients' assets from being sold to Citadel because the assets are being sold at a 15 percent discount. The assets may have already been sold, lawyers for both sides told U.S. District Judge Ronald Guzman today in Chicago federal court.
``Sentinel's representa (more...)
that is the fatal risk on mutual fund:
1. do you know what business they are doing? are fact sheet and prospectus sufficient?
i dun think so.
2. do you know what they actually do? do they really follow their investment priciple?
i dun think so either.
3. when tumoil appears, how do they protect the capital? simply stop trading? but how long? if things turn even severe, funds will lose the control, as shown in spec's post.
thus, for funds investment, we have to study the first 2 points as much as possible. besides, study the track record to make sure, in the largest possible extent, that they are not 'gambling' too much.
more important, actively manage your portforlio even though funds manager manages for you. but they are still your 'employee'. as a 'boss', we have to be responsible for our own money. hence, in any event, react earlier, at least earlier than the time when courts freeze the funds.
i dun think so.
2. do you know what they actually do? do they really follow their investment priciple?
i dun think so either.
3. when tumoil appears, how do they protect the capital? simply stop trading? but how long? if things turn even severe, funds will lose the control, as shown in spec's post.
thus, for funds investment, we have to study the first 2 points as much as possible. besides, study the track record to make sure, in the largest possible extent, that they are not 'gambling' too much.
more important, actively manage your portforlio even though funds manager manages for you. but they are still your 'employee'. as a 'boss', we have to be responsible for our own money. hence, in any event, react earlier, at least earlier than the time when courts freeze the funds.
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