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

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

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!