Hedge Fund News: Bill Ackman, Tom Steyer & Stephen Mandel

Page 1 of 2

Ackman’s Pershing Square L.P. Fund Rose 3.8% Last Month (Wall Street Journal)
While Bill Ackman’s short bet against Herbalife Ltd. (NYSE:HLF) may get most of the attention, the hedge-fund manager scored big last month thanks in part to his investment in alcoholic-beverage maker BEAM Inc (NYSE:BEAM). Mr. Ackman’s flagship Pershing Square L.P. fund rose 3.8% in January, according to an investor update. The offshore Pershing Square International Ltd. fund gained 4.1%, the update said. The performances far outpaced hedge-fund peers that lost an average of 0.24% in a poor month for stocks, according to the HFRX Global Hedge Fund Index.

PERSHING SQUARE

Keystone foe billionaire Tom Steyer calls for review of ‘defective’ pipeline report (Financial Post)
Billionaire Tom Steyer, a Democratic Party donor and Keystone XL foe, called on U.S. Secretary of State John Kerry to begin a review of the “defective” environmental analysis on the pipeline released last week. The final environmental impact statement on Keystone “has suffered from a process that raises serious questions about the integrity of the document,” Steyer, who hosted President Barack Obama at his San Francisco home in April, wrote to Kerry yesterday in a letter. Steyer is the former chief executive officer of the hedge fund Farallon Capital Management LLC and a major donor to Obama, who is being pressed by Democratic donors to reject the pipeline amid more signs it is headed for approval.

Billionaires Steven Cohen and Stephen Mandel Disclose Huge Stakes in Lumber Liquidators Holdings Inc (LL) (Insider Monkey)
In a couple of new filings with the SEC, Stephen Mandel‘s Lone Pine Capital, and SAC Capital Advisors, managed by Steven Cohen, disclosed holding significant positions in Lumber Liquidators Holdings Inc (NYSE:LL). Lone Pine has initiated its position in the company and currently holds 2.19 million shares, equal to 7.9% of the stock. SAC Capital reported boosting its stake to 1.39 million shares, which represent 5.0% of the common stock, from 60,144 shares owned by the fund previously.

Succession exposes risks for hedge funds (Financial Times)
“As we age, time becomes our most precious commodity.” So wrote Robert Karr, one of the “Tiger cub” hedge fund managers to have learnt their craft at Julian Robertson’s Tiger Management, who decided last week that he would shut down his $5bn fund, Joho Capital. Mr Karr told outside investors that he wanted to spend more time with his teenage children before they went off to college, and wanted to “try new recipes” with his wife Suzanne.

US Hedge Fund Hayman Capital Bets on Argentine Bonds Despite Default Risk (International Business Times UK)
Hedge fund manager Kyle Bass believes investors can still profit by lending to Argentina, Latin America’s third-largest economy. Bass does not think Argentina’s $475bn (£291bn, €351bn) economy will burden creditors with losses an eighth time. Bass, who purchased Argentine bonds at 55 cents on the dollar in 2013, has no plans to sell them. He profited by betting against US mortgages in 2007. However, global investors say there is an 86% chance that Argentina will quit paying in the next five years.

Billionaire Hedge Fund Manager Marc Lasry Bought A $US33 Million Penthouse In The ‘Ghostbusters’ Building (Business Insider Australia)
Billionaire hedge fund manager Marc Lasry purchased the famed penthouse at 55 Central Park West last week, the New York Times reported. Lasry, who runs Avenue Capital, paid $US33 million for the Upper West Side co-op. The listing price had been $US35 million. The 55 Central Park West building is famous for its role in “Ghostbusters.” We can expect that Lasry will have a great time decorating this place for Halloween.

Japan: Hedge fund trade in trouble (CNBC)

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 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

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

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!