David Einhorn Offered Regis Philbin A Summer Internship For His Winning Stock Pick (Business Insider)
Hedge fund hot-shot David Einhorn offered former television host Regis Philbin a summer internship at Greenlight Capital last night on CNBC’s “Fast Money.” Einhorn made a surprise phone call into the show to congratulate Philbin on his Micron Technology, Inc. (NASDAQ:MU) call, which is one of Einhorn’s big positions. Philbin was a fan of Micron before Einhorn began to mass his position last July.
Billionaire Loeb Confirmed as Sotheby’s New Board Member (Bloomberg)
Billionaire hedge-fund manager Dan Loeb was confirmed as Sothebys (NYSE:BID)’s newest director following a closely watched proxy fight between the auction house and its largest shareholder. Loeb and five others were officially appointed to the board today at Sotheby’s annual shareholder meeting in New York. The activist investor sat in the front row of the room. His Third Point LLC owns 9.65 percent of Sotheby’s shares, according to a regulatory filing.
Man Group says in talks to buy Numeric (Reuters)
Man Group said it was in talks to buy U.S. asset manager Numeric Holdings and diversify its quantitative fund offering, giving the UK hedge fund manager’s share price a boost. A deal for Boston-based Numeric, part-owned by private equity group TA Associates and up for sale since early 2013, would broaden a quant fund stable currently focused on Man’s flagship AHL computer-driven funds.
Politicians fight back as hedge funders ramp up election spending (CNBC.com)
Tom Steyer‘s attempt to pick political fights over climate change appears to be working. “Tom Steyer is an out-of-state, hyper-partisan, hedge-fund billionaire who is using his fortune to unseat Republicans he doesn’t like,” said Peter Steele, a spokesman for Steyer-target Paul LePage, the Maine governor who is running for re-election. “While liberal billionaires are trying to buy votes, the governor is focused on balancing environmental concerns with the need to attract businesses and increase career opportunities for middle-class Maine families.” Steyer’s NextGen Climate advocacy group recently singled out LePage, claiming that he “denies that climate change is a threat.”
Ackman Said to Plan Public Hedge Fund in London (New York Times)
One of Wall Street’s boldest investors, the billionaire hedge fund manager William A. Ackman, is building an unusual multibillion-dollar war chest. While hedge funds typically raise funds privately, the founder of the $13 billion Pershing Square Capital Management is planning to tap the public stock market. Mr. Ackman is aiming to raise billions of dollars for a closed-end fund that could list on the London Stock Exchange as soon as this summer, according to three people briefed on the matter but not authorized to discuss it.
WisdomTree strategist: ETF industry is sound (CNBC.com)