Hedge Fund Highlights: Wilbur Ross, Steven Cohen & Michael Hintze

Page 1 of 2

I’m selling 6 times more than buying: Wilbur Ross (CNBC.com)
With the stock market recently at all-time highs, before Thursday’s sharp selloff in futures and weakness earlier this week, it’s more attractive to sell than buy, private-equity billionaire Wilbur Ross said. “On balance we’ve been a seller. We’ve sold six times as much as we’ve bought so far this year … everywhere,” the investor in distressed assets told “Squawk Box” on Thursday. Ross said stock valuations in the U.S. are high, and “with markets [near] at all-time highs, it shouldn’t be surprising that there are more things that are attractive to sell than to buy.”

INVESCO PRIVATE CAPITAL Wilbur Ross

Steven Cohen’s $98M One Beacon Court PH off the market (The Real Deal Magazine)
Billionaire hedge fund manager Steven Cohen’s One Beacon Court penthouse, which was most recently on the market for $98 million, is no longer listed. Cohen’s posh pad, part of his reported $300 million in real estate holdings, first hit the market for $115 million in April last year. He then chopped the penthouse asking price by 15 percent to $98 million in December. The listing disappeared from StreetEasy on Tuesday, and has been removed from the Corcoran Group’s website. It was not immediately clear whether the property has gone into contract or has simply been taken off the market.

Oil Hedging Seen in Decline With Banks Commodities’ Exit (Bloomberg)
Oil-price hedging by producers and consumers is declining as a result of stricter of regulation that’s caused banks to exit commodities markets, according to Threadneedle Asset Management Ltd. Trading of futures for delivery later this decade has diminished as some banks either leave commodities altogether or curb trading, Nicolas Robin, a fund manager at Threadneedle, said at a presentation in London yesterday. Increased regulatory oversight has caused a slump in energy trading on exchanges, Platts, a company publishing prices for commodities including oil, said the day before.

CQS’ Hintze To Join Vatican Bank Board (FINalternatives)
Pope Francis is turning to a prominent hedge fund manager to help him clean up the scandal-tarred Vatican Bank. CQS founder Michael Hintze has been named to the board of the bank, officially known as the Instituto per le Opere di Religione, one of six new lay members. The move is part of a series of changes the pope, elected last year, has made to clean up the Vatican Bank, which in recent years has faced charges of money laundering.

A Climate Activist Bags Himself (Wall Street Journal)
In “The Short Happy Life of Francis Macomber,” a Hemingway story, a man goes big game hunting who should have stayed home. Tom Steyer maybe should have stayed home. The hedge-fund king has sought to propel himself to the top circle of Democratic money men and possible future officeholders on the strength of his concern about global warming. He wants to spend $100 million this year influencing the midterm elections. All the media lately wants to talk about, though, is his thoroughly postmodern hypocrisy. The New York Times Company (NYSE:NYT) is the latest to investigate his former hedge fund’s investments to increase the output of Indonesian and Australian coal mines to feed China during a period when China surpassed the U.S. as the world’s biggest carbon-dioxide emitter.

Dov Charney voluntarily steps down from board (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!