Hedge Fund News: Bill Ackman, Mohnish Pabrai, Goldman Sachs Group, Inc. (GS)

Page 1 of 2

Editor’s Note: Goldman Sachs Group, Inc. (NYSE:GS), HORSEHEAD HOLDING CORP. (NASDAQ:ZINC), Chesapeake Energy Corporation (NYSE:CHK), J.C. Penney Company, Inc. (NYSE:JCP), The Blackstone Group L.P. (NYSE:BX), Steinway Musical Instruments Inc (NYSE:LVB)

PERSHING SQUAREAckman Quits J.C. Penney Board With $700 Million Loss (Bloomberg)
Bill Ackman resigned from J.C. Penney Company, Inc. (NYSE:JCP)’s board after a public fight with his fellow directors, capping more than two years of agitating to remake the retailer that left him with a potential $700 million in losses on his stake in the department-store chain. Ronald Tysoe, a former vice chairman of Federated Department Stores Inc., now Macy’s Inc., was named to the board and another director will be added in the “near future,” the Plano, Texas-based company said in a statement today.

Hedge Fund Manager Mohnish Pabrai Buys Horsehead Holding, Chesapeake Energy (Forbes)
Hedge fund manager Mohnish Pabrai just reported his second quarter holdings. He did not buy into new positions except adding to HORSEHEAD HOLDING CORP. (NASDAQ:ZINC), Chesapeake Energy Corporation (NYSE:CHK) during the 3-months ended 06/30/2013, according to the most recent filings of his investment company. Mohnish Pabrai runs a very concentrated portfolio. As of 06/30/2013, he owns 6 stocks with a total value of $421 million.

Paulson Bids For Steinway (FINalternatives)
Hedge fund Paulson & Co. has taken the lead in the bidding to acquire legendary piano-maker Steinway Musical Instruments Inc (NYSE:LVB). Steinway said yesterday that an unidentified bidder had offered $38 per share for the company, 8.5% more than the $35 per share put up by private-equity firm Kohlberg & Co. Published reports indicate the higher bid came from Paulson.

Former Goldman Sachs Managing Directors Plan Asia Hedge Fund (Bloomberg)
Three former managing directors of Goldman Sachs Group, Inc. (NYSE:GS)’s Japan business plan to start an Asia multi-strategy hedge fund early next year, according to two people with knowledge of the matter. Koji Gotoda and Takayuki Kasama have incorporated Golvis Investment Pte in Singapore, said the people, who asked not to be identified as the information is private. The fund will invest in all asset classes with an initial focus on Japan, they added. Japan-focused hedge funds have historically traded stocks, making a company staffed by a large team of former Goldman Sachs Group, Inc. (NYSE:GS) employees and capable of investing in multiple asset classes a rarity, one of the people said.

Blackstone and Fidelity offer hedge fund taste to retail crowd (Reuters)
The Blackstone Group L.P. (NYSE:BX), one of the world’s biggest hedge fund investors, said on Monday Fidelity Investments is a strategic partner in giving retail investors a taste of the normally exclusive world of hedge fund investing. Boston-based Fidelity’s Portfolio Advisory Service PAS.L, a managed account offering, has begun investing in the Blackstone Alternative Multi-Manager Fund (BXMMX.O). PAS clients are Fidelity retail investors with a minimum account of $50,000, who get access to some of the best outside money managers hired by Fidelity’s Strategic Advisers unit.

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 Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

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

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How 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

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!