Hedge Fund News: Bill Miller, Richard Perry & Alphonse Fletcher

Page 1 of 2

Miller: No ‘extraordinary value’ left in US markets (InvestmentWeek)
Legg Mason’s Bill Miller is struggling to find the ‘extraordinary’ value in the US he did last year, and said equity markets could rise even higher in 2014. A number of stocks Miller added to his Opportunity fund last year have tripled or quadrupled in value, but he does not expect to see opportunities for these kinds of returns moving in to 2014. “A year ago, you could have bought Netflix, Inc. (NASDAQ:NFLX) at $60, and we did, and now it is up at $300. You cannot do that anymore,” he said. “Overall, the market is approaching fair value for the first time in five years. It is unusual for markets to remain fair value for a long time, they usually either drop to undervaluation or become overvalued.”

Bill Miller

Malta is ‘most favoured European domicile’ in hedge fund awards (MaltaToday)
For the first time, Malta has won the coveted award of Europe’s favoured domicile in the Hedge Fund Service Provider rankings 2013, a significant change to the old guard in this category. The choice of most favoured domicile was selected as the biggest change over 2012 results by Hedge Funds Review, the leading publication for the alternative investment industry. Malta rose from third position in 2012 to first place this year. Voting in the survey was conducted online between August 27 and October 14. Eligible to vote were individuals from single-manager hedge funds or FoHF organisations and investors, such as family offices, pension funds, sovereign wealth funds, insurance companies and asset allocators, underlining Malta’s popularity with a broad range of hedge fund formats and professionals.

New hedge fund managers can score big gains, or losses: survey (Reuters)
Wealthy investors may get more bang for their buck if they invest with brand new hedge fund managers, but they must also have a strong stomach to tolerate potential losses, a study released on Wednesday shows. Data from research firm Preqin shows that the average new hedge fund manager who set up a firm within the last six years delivered average annualized returns of 8.80 percent in the first three years of trading. That compares with a gain of 5.38 percent for the new funds launched by established firms.

Traders assure bitcoin boosts ‘the best performing hedge-fund in history’ (VoiceOfRussia)
Today, Japanese Mt. Gox, the highest profile cryptocurrency exchange, the once-obscure online money, traded at $1,020—and the rate is still climbing. One bitcoin is worth over a thousand dollars. And at least one financial institution – crypto-hedge fund, Exante Ltd, claims it’s gotten filthy rich due to its rise. The rapid rise in bitcoin’s value has been abetted by a fast-growing number of vendors who accept this cryptocurrency—its days as illegal drug money are over. Bitcoin may be used to pay for college or sandwiches or reserve a seat on a spaceship.

Once giant FX Concepts’ assets now just $2 million: court filings (BRecorder)
FX Concepts, once the largest currency hedge fund in the world, has less than $2 million in assets now and $79 million in liabilities, according to the latest court filings on Monday. The fund filed for bankruptcy protection more than a month ago as its assets dwindled due to market losses and redemptions from major clients. At its peak in 2007, the $14 billion that FX Concepts had in assets under management made it the largest currency hedge fund in the world. The latest court filings showed FX Concepts has $1.62 million in assets and about $79.2 million in liabilities. The biggest part of those assets is a $1.61 million loan note from FX Concepts Chairman and Chief Investment Officer John Taylor.

US hedge fund sold stake in Britain’s Co-op Bank after Paul Flowers scandal (VCPost)
Aurelius Capital Management, the biggest hedge fund investor in the Co-op Bank, offloaded almost all of its stake in the London bank to hedge fund firm Perry Capital. The stake sale was made last week, just days after the scandal about the bank’s former chairman Reverend Paul Flowers erupted. This was according to a report published by This Is Money. The sale was thought to be executed because of economic reasons. Co-op bond prices have increased since a GBP1.5 billion funding black hole was revealed this month, the report said. A rescue package for the funding black hole will be voted on by bond holders. If approved, the investment will be converted to bank shares when it is floated on the stock market in 2014…

A Hedge Fund is Buying Shares in These 2 Biotech Stocks (WallstCheatSheet)
One of the best ways that investors can try to decide which stocks will make for a good investment is to look at what the pros are doing. This can be done by examining a few official filings such as 13F, 13D, and 13G reports. 13F filings are done quarterly and show which positions hedge funds have taken. Reports of 13D and 13G are done more often but only when a fund has taken a position of at least 5 percent. One of the best performing biotech groups over the past few years has undoubtedly been Baker Brother Advisors. The Baker Brothers are well known for their early investments in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Pharmacyclics, Inc. (NASDAQ:PCYC), and Seattle Genetics, Inc. (NASDAQ:SGEN).

Hedge fund ‘VIP’ list (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

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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!