Hedge Fund Highlights: Paul Singer, David Tepper & Sandell Asset Management

Page 1 of 2

Piggybacking on Billionaire Singer Boosts Debt: Argentina Credit (Bloomberg)
Speculators in Argentina’s defaulted debt are looking to ride billionaire Paul Singer’s coattails to a payday. The price of bonds left over from the nation’s $95 billion default in 2001 jumped 50 percent to about 85 cents on the dollar since June 16, when the U.S. Supreme Court left intact a ruling that requires Argentina to compensate holdout creditors led by Singer when it pays those who provided debt relief in 2005 and 2010. That compares to a 0.15 percent gain in emerging markets. The notes are now at their highest level since the default, Seaport Group LLC said.

Paul Singer ELLIOTT MANAGEMENT

Here’s How America’s Highest Paid Hedge Fund Manager Is Giving Away His Money (Inside Philanthropy)
For three years running, David Tepper has earned the title of highest paid hedge fund manager in America, which likely makes him the highest paid person in the world. Raking in $3.5 billion in 2013 alone, Tepper’s fortune has ballooned to over $10 billion in recent years. And at just 55, he’s not likely to slow down any time soon, though his increasing wealth has caused him to become increasingly serious about his philanthropy. This isn’t to say Tepper hasn’t been serious about philanthropy for a long time. The David Tepper Charitable Foundation was created way back in 1997, just four years after he started his own hedge fund, Appaloosa Management, much earlier in his career than many of his counterparts, and certainly before he started making billions.

Drawing a line between pricey markets and globalization: James Saft (Reuters)
If global policy makers are wrong about globalization, and they could be, we may be in for more low growth, low rates and the high asset prices they support. At issue is the bedrock belief that globalization lifts all boats, making us all richer by allowing the flowering of individual countries’ comparative advantage. The big question is whether this is a transitional problem, a distributional one or something closer to a permanent condition. One person who has thought interestingly about these issues is Stephen Jen, a hedge fund manager at SLJ Macro Partners. Jen argues, picking up on points made by economist Paul Samuelson a decade ago, that lagged effects of globalization may be behind some of the peculiarities in both markets and economics we now observe.

Bob Evans Says Sandell Spurned Efforts to Avoid Proxy Fight (Wall Street Journal)
Bob Evans Farms Inc (NASDAQ:BOBE) said hedge fund Sandell Asset Management Corp. has spurned its efforts to avoid a proxy fight and that it doesn’t plan to expand the size of its board to accommodate the hedge fund. The New Albany, Ohio, company said its board has decided to keep the size of the board at 12 and that it plans to nominate 10 of its own candidates. With the previously announced retirements of two members, that would allow for two seats to be filled by Sandell candidates.

Hedge Fund MKP Said to Hire Nomura Interest-Rate Traders (Businessweek)
MKP Capital Management LLC, the $8.5 billion hedge-fund manager that invests in global macro and credit strategies, hired two interest-rate traders from Nomura Holdings, Inc. (ADR) (NYSE:NMR) as hedge funds anticipate a divergence in global central bank policies. Vivek Sahay and Lee Berkowitz will join New York-based MKP in July as money managers focusing on global interest-rate markets, according to a person familiar with the matter, who asked not to be named because the information is private. Katherine Plavan, a spokeswoman for MKP, declined to comment on the appointments.

Cramer demystifies market (CNBC.com)

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!