…grow in Europe, despite the continent’s continued economic weakness. Priceline.com Inc (NASDAQ:PCLN) has exposure to Asia through its subsidiary Agoda, and Ward believes Agoda should be a source of growth in future months. He’s also a big fan of the company’s management team.
Indian Hedge Funds Dare Where Foreign Investors Fear to Tread (CNBC.com)
Indian hedge fund manager Kalpesh Kinariwala is so sure of his equity strategies in a country that has stumped foreign rivals that he sends a daily e-mail tracker of his performance – including to competitors. Kinariwala’s Capveda Capital (India) Advisory fund, which he runs from a modest office in a decrepit industrial estate in Mumbai, has returned 11.86 percent so far this year,outperforming average negative returns of 2 percent from India-focused foreign hedge funds. Local hedge funds are eager to show off double-digit returns in the hopes of drawing wealthy Indians and succeeding where overseas players including HSBC Holdings PLC have failed.
Marvell Technology Group Ltd. (MRVL): Billionaire David Einhorn Trimming Position (Insider Monkey)
U.S. wants Diamondback’s Newman to reimburse hedge fund (Reuters)
A Diamondback Capital Management portfolio manager convicted of insider trading should reimburse up to $12.9 million to his former employer, in addition to serving as much as 6-1/2 years in prison, federal prosecutors said on Friday. In papers filed in U.S. District Court in Manhattan, prosecutors said Diamondback qualified as a “victim” of the former manager, Todd Newman. They said Diamondback deserves restitution under the federal Mandatory Victims Restitution Act, though less than the $39 million that the hedge fund has sought. The government’s involvement came after Goldman Sachs Group Inc and Morgan Stanley last year sought to recoup large sums of fees and costs from people who were once affiliated with them and were convicted of insider trading.
Meet the man who’s selling Canada short (Globe and Mail)
Vijai Mohan has made an all-in bet against Canada. The founder of a small San Francisco-based hedge fund called Hyphen Partners LP has staked 95 per cent of his investors’ assets on a wager that the country’s housing market and banking sector are about to come apart at the seams. Mr. Mohan has amassed large short positions on Canadian bank shares and the loonie, betting their values will fall sharply. “Canada faces two risks,” said Mr. Mohan in an interview. “Very few people are looking at those risks simultaneously. That collectively presents a lot of opportunity” – for someone looking to profit from Canada’s misfortunes.
SEC’s White Said to Push for Lifting Ban on Hedge-Fund Ads (Bloomberg)
U.S. Securities and Exchange Commission chairman Mary Jo White is pushing to adopt a rule allowing hedge funds to advertise in a move consumer advocates say could fail to protect unsophisticated investors, according to two people familiar with the matter. White, who became SEC chairman on April 10, has suggested the commission pass the existing plan without…
