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
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 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!