Och Ziff

Och-Ziff: Proxy for industry

Jim Kim — Tue, 04 Nov 2008 19:12:14 -0500

One nice thing about the fact that Och-Ziff trades publicly is that we have a rough proxy for the entire industry. So, the good news is that the alternative investment firm beat analysts' expectations for the third quarter by a penny. (It posted a loss but its "distributable" earnings were positive).

The news wasn't all good. MarketWatch notes that the firm's largest fund, OZ Master, fell 6.63 percent in October and is down 12 percent for the year. Its OZ Europe Master Fund is down 13 percent for this year. And the OZ Asia Master Fund is down a whopping 27 percent. Unsurprisingly, some investors have fled. Redemptions were $719 million in September and $220 million in October. As staying profitable becomes harder for some firms, costs take on more importance, and you have to think that many funds are below the high water mark.

For more:
- here's the article

Alternative investment firms take lumps in aftermarket

Jim Kim — Tue, 24 Jun 2008 21:43:24 -0400

The window for an initial public offering closed pretty quickly for most alternative investment firms, which were lining up to follow the likes of the Blackstone Group, Och-Ziff and Fortress Investment Group. In hindsight, for the few that managed to sell their shares, it's unclear whether the IPO was a blessing or a curse. They sold their shares at a decent price, but the aftermarket, as Fortune notes, has not been kind. Fortress and the Blackstone Group are down about 50 percent, with Och-Ziff not far behind. Still, you have to wonder whether this is a buying opportunity. There are those who believe the worst is over and that the top alternative investors are laying the groundwork for a revival of sorts, via distressed funds for example.

For more:
- here's the article

ALSO NOTED: Wachovia to take big charge due to court ruling; Och-Ziff founder fares well; and much more...

Thu, 01 May 2008 06:59:50 -0400

Company News:
> Wachovia to take big charge due to court ruling. Article
> Analysts sour more on Countrywide. Article
> PNC private equity unit sells food maker. Article
> Despite stock swoon, Och-Ziff founder fares well. Article

Industry News:
> Police hunting for hedge fund fraudster in Canada. Article
> Cramer: The only non-toxic banks. Video
> Banks need to come clean on capital needs. Article
> Book about Eliot Spitzer coming soon. Article

Regulatory News:
> SEC must give up documents in Aguirre case. Article

And Finally... Is a liberal arts degree a waste in the job market? Article

ALSO NOTED: Market turning bullish on Merrill Lynch; Och-Ziff also scammed in Japan; and much more...

Mon, 21 Apr 2008 06:59:50 -0400

Company News:
> Och-Ziff also scammed in Japan. Article
> Another loss for E*Trade. Article
> Market turning bullish on Merrill Lynch. Article
> Citigroup to slash 9,000 jobs. Article
> S&P puts Citigroup counterparty rating on watch. Article

Industry News:
> How cheap are bank stocks right now. Article
> CDS spreads on banks fall sharply. Article

And Finally... Seven things to do in a job interview. Article