Hedge Fund News – Phil Falcone Australia, Icahn Navistar Activist

Harbinger, Philip Falcone & Australia (SMH)

Philip Falcone grew up in the mining town of Chisholm, Minnesota, population 4976. The youngest of nine children who lived in a three-bedroom house, Falcone excelled at ice hockey and played for Harvard. After college, a burgeoning career as a professional hockey player was cut short by injury and he then cut his teeth in the markets as a trader at Barclays Capital.
HARBINGER
Icahn Takes 9.8% Activist Interest in Navistar (NYTimes)
Carl C. Icahn has already had a busy year, having taken aim at companies like Clorox and Forest Labs. That hasn’t stopped him from adding yet another target to his portfolio. The activist investor disclosed on Thursday that he had built up a 9.8 percent stake in Navistar International, a maker of trucks and buses. In a securities filing disclosing his holdings, Mr. Icahn wrote that he had already held discussions with management, including about potentially adding members to the company’s board.
Pimco Fund Disappoints (WSJ)
Bill Gross, manager of the world’s biggest bond fund, is used to scooping up piles of investors’ money with a forklift. This year, a spoon will suffice. Through the third quarter of 2011, Mr. Gross’s Pimco Total Return Fund had attracted inflows of $183.5 million, according to data compiled by fund tracker Lipper at The Wall Street Journal’s request. The fund lured $17.6 billion in new money last year, $57.7 billion in 2009 and $20.4 billion in 2008.
Cerebus and Chatham Reach Agreement (Reuters)
Cerberus Capital Management CBS.UL and Chatham Lodging Trust (CLDT.N) have reached a tentative agreement to buy bankrupt Innkeepers USA Trust (INKPQ.PK) at a lower price than in an earlier deal that fell apart, a source close to the talks said.
Hedge Funds Look to Canadian Banks (GlobeAndMail)
Canadian banks are often described as boring, safe and stable, but some speculators are beginning to apply another adjective: expensive. The country’s five biggest banks trade at some of the highest price-earnings multiples in the global banking industry. That’s partly because their shares have held up relatively well this year, while their peers worldwide got clobbered on concerns related to Europe’s debt crisis and a possible recession in the U.S.
T&D Closes Japanese Hedge Fund (Bloomberg)
T&D Asset Management Co., with about $27 billion in assets, closed its Japan-focused hedge fund because of higher-than-expected trading costs and returned money to clients, according to four people familiar with the matter. The T&D Japanese Equity Long & Short Fund shut at the end of September after starting in June 2010 with about 700 million yen ($9.1 million) from T&D Asset, the fund management arm of Japanese insurer T&D Holdings Inc., the people said, asking not to be identified because the information is private.
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 Click to see monthly returns in table format!

Lists

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

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!