FT Alphaville |
August 20th, 2008 |
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Harbinger Capital Partners' heavy July losses have carried on into August, with the aggressive New York hedge fund - run by superstar Phil Falcone - having given back almost two-thirds of the profit it made this year in just six weeks. A letter to investors this week showed that by [...]
Seeking Alpha |
August 20th, 2008 |
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In contrast to my last post on gold, indicating that the correction in bullion has further to go, the sentiment picture for crude oil is far more constructive. I now have doubts as to whether my near term $100 oil call will come to pass. Investor sentiment now very negative [...]
Seeking Alpha |
August 20th, 2008 |
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Events of the past several months have been very disconcerting, particularly as it relates to the risks and rewards conveyed to common equity holders. It has become evident that due to political pressures, separate and apart from plain economics and market forces, that the returns to certain common equity holders [...]
Seeking Alpha |
August 20th, 2008 |
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Barry Rosenstein's JANA Partners released its 13F for the quarter ended June 30, 2008 the other day. Below are some notable moves:New 1,204,656 share stake in Century Aluminum (CENX)New 1,012,800 shares stake in Genentech (DNA)New 8,714,300 share stake in Talisman Energy (TLM)New 2,344,493 share stake in Thinkorswim Group (SWIM)Raised stake [...]
Seeking Alpha |
August 20th, 2008 |
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IndexIQ has recently filed for products to synthetically replicate hedge fund strategies. This is an interesting development for “retail” hedge fund investing. There is a widely held belief that hedge funds earn their returns through identification of market inefficiencies and by superior investment selection, i.e. by producing "alpha". However, the [...]
Miami Herald |
August 20th, 2008 |
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New York hedge fund Steel Partners II prevailed Tuesday in its proxy fight with Point Blank Solutions, the Pompano Beach body-armor producer.[...]
Business Week |
August 20th, 2008 |
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Donald Trump Jr.'s $1 billion Indian hedge fund will focus on luxury real estate investment. But the market has changed quite a bit since he got the idea last fall[...]
Rob Curran has this report on what may be in store for the rest of this year. The inverse relationship of financial and commodity stocks is breaking down, and traders say the two sectors are now primed to go down together, likely taking the Standard & Poor's 500 back to [...]
A Canadian hedge fund manager ordered to pay almost $300m in compensation and fines after defrauding investors is unlikely to pay more than has already been recovered, according to lawyers for the receiver of the failed fund[...]
We've noted the long-running debate about whether the accreditation requirements for hedge fund investors ought to be lowered. For many the rules strike a paternalistic note: The non-wealthy can't comprehend the risks. That has galled many over the years in part because they think most of the public is being denied [...]
We've noted that pensions aren't bailing out on hedge funds and private equity funds. In fact, they continue to embrace them. That has made life a little more of an adventure for some pension overseers. Portfolio profiles Bill Clark, who oversees a $77 billion investment portfolio for New Jersey workers. [...]
Seeking Alpha |
August 19th, 2008 |
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Hedge fund legend Steven Cohen has a problem: finding useful work for former CNBC anchor and failed money sort-of manager Ron Insana. Jonathan Gasthalter, flack to both SAC Capital Advisor LLC and Insana Capital Partners LLC, has not returned numerous phone calls seeking comment on this and other questions, leading to the [...]
CNBC |
August 19th, 2008 |
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Losses at hedge funds are at a level where they can no longer drive market speculation and gold is facing a 'savage bear market,' according to one hedge fund manager. Read More Topics:Europe | Wall Street | Economy (U.S.) | Economy (Global) | Central Banks | Inflation | Commodities | [...]
Bruce Einhorn, the hedge fund tyro who famously shorted Lehman Brothers stock earlier this year, is stirring up trouble in Paris. His New York hedge fund, Greenlight Capital Inc, has called on French investment bank Natixis SA to drop plans to sell €3.7 billion ($5.4 billion) of new shares, arguing [...]
Recall that Ralph Cioffi and Matthew Tannin, portfolio managers of the two Bear Stearns hedge funds that collapsed a little over a year ago, have been charged with fraud--essentially for not disclosing the true extent of the funds' portfolios to clients. As TheDeal.com notes, a big debate has erupted over the legitimacy [...]
Seeking Alpha |
August 19th, 2008 |
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As reported at Bloomberg.com, George Soros purchased an $811 million stake in Petroleo Brasileiro SA (PBR), (better known as Petrobras) in Q2. The Brazilian oil company is now the largest holding in his fund, amounting to 22 percent of the total $3.68 billion of stocks and American depositary receipts held [...]
Seeking Alpha |
August 19th, 2008 |
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We always hear about gold trades "ending in tears" due to the rapid swings of the yellow metal. As some are finding out, apparently gold is not the only commodity with a volatile price (see WSJ article). Declining prices recently have some commodity-specific hedge funds deep into negative territory.As an [...]
FT Alphaville |
August 19th, 2008 |
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Hedge fund manager David Einhorn of Greenlight Capital is best known (now) as the prolific shorter of Lehman Brothers. His very public evisceration of the bank in May sparked huge falls in its share price. He brought down CFO Erin Callan. His most damning conclusion was that Lehman needed more [...]
Seeking Alpha |
August 19th, 2008 |
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Outside of the hedge fund community, where the votes seem to have already been cast over the last five weeks leading to broad-based declines in commodity prices, the China "decoupling" debate continues in some circles, the latest bit of data coming from this story in the current issue of The [...]
John Shipman and Ed Welsch report: It's been a rocky 10 days for Goldman. Wall Street analysts this morning downgraded their views on a number of commercial and investment banks, among them the otherwise teflon-coated Goldman Sachs Group. Analysts have been turning increasingly negative toward Goldman in recent weeks. The [...]
Do you remember a time, only a short while ago, when virtually anybody could start a hedge fund? It seemed so easy: billions of dollars were being thrown around like confetti.[...]
