Hedge Fund News: Bill Ackman, David Einhorn & Aurelius Capital Management

Page 1 of 2

Inside the Trade: What Bill Ackman Sees in Valeant and Allergan (InstitutionalInvestorsAlpha)
When William Ackman took the stage at the AXA Equitable Auditorium in Midtown Manhattan on April 22, investors were still digesting the news that his firm, Pershing Square Capital Management, had amassed a 9.7 percent stake in Allergan, Inc. (NYSE:AGN), an Irvine, California-based specialty pharmaceuticals company. But Ackman’s two- hour, 110-slide PowerPoint presentation had very little to do with Allergan; instead it focused almost entirely on Valeant Pharmaceuticals Intl Inc (NYSE:VRX), a Laval, Quebec-based company with which Pershing Square is teaming up to try to acquire the maker of Botox…

Bill Ackman in crowd

Hedge Fund Compensation Takes a Dive (ai-CIO)
UK-based hedge fund managers have seen a sharp decline in compensation over the last two years, according to salary data tracker Emolument. The median base salary for director-level professionals fell from £120,000 ($199,000) in 2012 to £101,000 in 2013. This year, it has dropped again to £90,000. “Over the last few years since 2008, hedge fund managers have been more willing to show flexibility when it comes to management fees, which is why base salaries have been eroding thus,” said Robert Benson, the data firm’s CEO.

Hedge Fund Manager & “Martha Stewart of Marijuana” Co-Hosts The Global Cannabis Summit (HedgeCo)
Cheryl Shuman, the first Cannabis entrepreneur to manage a $100 million hedge fund to invest in the cannabis businesses, has been called upon to consult and co-host at the GreenRush Financial Conference being held in Seattle, Washington on September 23, 2014. Her private medical cannabis collective, “The Beverly Hills Cannabis Club” is unlisted and membership is by referral only. Through her personal relationships and connections within Hollywood and the media, Cheryl Shuman has been named as one of the most influential women in the cannabis reform movement by international media.

Citigroup faces curbs on hedge fund sales (eFinancialNews)
The curbs, which haven’t previously been reported, result from the August 5 approval of a settlement between Citigroup Inc (NYSE:C) and the Securities and Exchange Commission of claims related to the bank’s earlier sale of certain debt products. The setback for Citigroup is partly due to timing. Other banks with similar settlements have been able to escape the restrictions because they came before a change in the law last year. Over the past two weeks, Citigroup has been sending letters to hedge fund firms informing them that the bank is no longer able to steer investors to their funds. In the letter, Citigroup said it is working to resolve the issue with the SEC. Under the rules, the SEC has to issue a waiver to allow Citigroup to resume hedge fund sales to clients.

Gin Lane property on the market for first time in 50 years (TheRealDeal)
A beachfront property on Southampton’s Gin Lane will hit the market for the first time in more than 50 years with an asking price of $50 million. The 4-acre parcel is next door to Wooldon Manor, which Scott A. Bommer, founder of hedge fund SAB Capital, bought for $75 million and then almost immediately sold for more than $80 million, the Wall Street Journal reported. Tim Davis of Corcoran Group, who handled the sale for Bommer, will also represent the owner of the property, William G. McKnight, according to the newspaper.

Cramer’s winning stock roster (CNBC)

Page 1 of 2
Comments
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

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!