Hedge Fund News: Crispin Odey, Peter Kolchinsky & T Boone Pickens

Page 1 of 2

Manchester United Divides Hedge Funds’ Loyalties (WSJ)
Some of Europe’s most powerful hedge fund managers are sharply divided on the outlook for English soccer club Manchester United PLC (NYSE:MANU) -0.17%, whose share price has declined recently along with its on-field performance. One of the most prominent to hold a negative bet is U.K.-based Odey Asset Management, which is headed by investor Crispin Odey and runs around $12.2 billion. It has been betting on the share price’s falling since shortly after the initial public offering of Manchester United in 2012 and says the shares are overvalued.

Crispin Odey

Farmers Sue Hedge Fund Over Guar (Finalternatives)
A group of Texas farmers has sued a New York hedge fund, accusing it of defrauding them. The guar growers filed five countersuits against Scopia Capital Management, alleging that the hedge fund and West Texas Guar conspired to not pay the 285 farmers for their crop last year. Scopia is West Texas Guar’s top shareholder, and alleges that the company failed to repay a $6 million loan made in 2012. West Texas Guar has since filed for bankruptcy. A federal bankruptcy judge in May approved a settlement granting the farmers 75% of their claims.

BlackRock Hedge Selector Reports Net Asset Value Per Share Drop (ISE)
BlackRock Hedge Selector Ltd Thursday said its UK Emerging Companies Share Class net asset value fell by 7.7% over the six months to end-June, including all ongoing expenses with ongoing charges of approximately 0.8% per year, reflecting the underlying performance of the UK Emerging Companies Hedge Fund, which fell by 7.3%. The company’s share price fell by 5.4% over the same period. The FTSE 100 Index, meanwhile, rose by 1.9% over the period, the FTSE Small Cap Index increased by 1.5% and the FTSE All-Share Index by 1.6%. In contrast, the Numis Smaller Companies plus AIM (excluding investment companies) Index fell by 0.8% and the FTSE 250 Index remained flat, the company said.

Hedge funds buying Yahoo stocks ahead of Alibaba IPO (Opalesque)
Several hedge funds are buying large shares of Yahoo! Inc. (NASDAQ:YHOO) ahead of the planned initial public offering (IPO) of Chinese e-commerce giant Alibaba. Ken Sawyer, managing director of Saints Capital, said that Yahoo, which owns 23% of Alibaba and is a public investor of the Chinese website, has placed a discount on whether a holding company is worth the sum of the value of its parts. Sawyer was quoted by USA Today as saying, “Some guys think there might be 15% or 20% in Yahoo, if Alibaba’s investment bankers can sell the offering at the top of its range or — as Facebook Inc (NASDAQ:FB)‘s did — even higher. It’s an (arbitrage) play between public and private markets.”

Achillion Pharmaceuticals Inc. (ACHN): RA Capital Management Cuts Stake To 19.0% From 21.1% (InsiderMonkey)
RA Capital Management, led by Peter Kolchinsky, disclosed in a newly amended filing with the U.S. Securities and Exchange Commission that it further reduced its exposure to Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). The filling showed that the hedge fund unloaded around 2.71 million shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). Following the sale, RA Capital owns 18.54 million shares of the company, the stake being equal to 19.0% of common stock outstanding.

Hedge Fund To Add Member To American Apparel Board (Finalternatives)
Lion Capital Management may not be an investor in American Apparel Inc (NYSEMKT:APP) anymore, but it still wants a seat on its board. The hedge fund, which pushed the struggling retailer into a cash crunch last month when it called in a $10 million loan, still owns warrants to take a 12% stake in the company—and the right to appoint two board members. And it told the firm that it plans to appoint former Rupari Food Services CEO Robert Mintz to join the seven other directors of the newly-reconstituted board.

Top picks at US open (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 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

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

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!