Billionaire hedge fund boss denies Vanity Fair allegations he crashed into a child and was jailed while holidaying in Cuba (DailyMail)
One of America's richest businessmen has denied claims that he was detained following a car accident in Cuba after 'hitting a local kid with his car'. Daniel S. Loeb, the hedge fund manager who founded Third Point LLC, was involved in an accident while enjoying a weekend trip to Cuba, according to Vanity Fair. The piece, written for the magazine's December edition, alleges that the incident happened while Loeb, 51, was on holiday with friends in 2002. But Mr Loeb's lawyer told the New York Post that the allegations are 'entirely untrue'.
Funds of hedge funds recast dismal model (FT)
How many investments have yet to recover from 2008? Most – if not all – major markets are well beyond their pre-crash peaks, at least in absolute terms. Most investment strategies too, have bounced back. Five years on, the idea that anyone should have failed to recover from the collapse of Lehman, and its attendant crises, is almost absurd, even given the volatile and difficult conditions in the years since. Spare a thought, then, for the fund of hedge fund managers of this world. And spare some tears for their clients.
Here's How Hedge Funds Are Trading Puerto Rico (BusinessInsider)
There has been a recent flurry of activity regarding Puerto Rico, involving their debt, rating agency views of that debt, the bond insurers that have been insuring their debt, the state-specific mutual funds that are holding Puerto Rico debt, and the projected plans of the Puerto Rican government to improve their deteriorating credit picture and economic situation. We have new (August) economic information from Puerto Rico; see here. And we have the October 18 detailed financial report linked below.
Hey Banksy: Hedge Fund Manager To Go Ahead With Sandy Donations (HedgeCo)
Hedge fund manager Nelson Saiers has updated us here at HedgeCo saying, “ On the eve of Sandy, I’ve decided to waive the criterion on Banksy and just donate the money to benefit underpriviledged children. I still have 142,000 of anonymous donations whose donors are waiting for Banksy.” The official statement reads: “As the anniversary of Hurricane Sandy is upon us, I’ve decided to waive the criterion on my original letter and will donate the original $100,000 to World Vision to benefit underprivileged children in Sandy affected areas.
SEC sues investor over alleged Carter's insider-trading scheme (GlobalPost)
The Securities Exchange Commission filed a civil complaint Tuesday against a retired hedge-fund investment consultant and market analyst who allegedly participated in an insider trading scheme involving Atlanta-based clothing marketer Carter's Inc. Dennis Rosenberg, 70, was able to trade in advance of marketing-moving news from Carter's based on tips received from a former executive at the company between 2005 and 2010, according to the complaint in federal court in Georgia. Rosenberg passed along tips to investment advisers at two hedge funds, who also traded on the information, the complaint said.
Hedge Funds Shorting World Acceptance Urge Consumer Bureau Probe (BusinessWeek)
Hedge funds betting against shares of World Acceptance Corp. (NASDAQ:WRLD) have been pressing the U.S. Consumer Financial Protection Bureau to investigate the installment-loan firm, according to people briefed on the discussions. The overtures from funds including New York-based Kase Capital Management and Boston-based North Run Capital make the bureau the latest target of investors trying to prod Washington regulators and policy makers to take actions that could benefit their trading strategies. Some funds also have met with congressional aides and consumer advocacy groups to encourage them to focus on World Acceptance, the people said.
Schapiro: More & better quality capital in system (CNBC)
Billionaire Carl Icahn has reported, in a newly amended filing, increasing its position in voice solutions software company Nuance Communications Inc. (NASDAQ:NUAN). The billionaire disclosed holding...... (read more)
Steven Cohen and SAC Capital have raised their position in The Fresh Market Inc (NASDAQ:TFM). According to a new filing, Mr. Cohen owns over 2.4 million shares of the company, which represent 5.1%...... (read more)
Hedge fund advisor Steven Drobny, the author of global macro books "Inside The House of Money" and "The Invisible Hands", is coming out with another book called "The New House of Money." Drobny has just...... (read more)
Edward S. Lampert and his fund ESL Investments have cut their position in Sears Holdings Corp (NASDAQ:SHLD). A newly amended filing with the SEC revealed ESL holding around 51.6 million shares of the...... (read more)
Sam Isaly’s Orbimed Advisors disclosed holding a 33.5% stake in Relypsa Inc (NASDAQ:RLYP), a company which recently conducted its Initial Public Offering. The fund reported, in a new filing, owning...... (read more)
After a rocky start to the month, Barry Rosenstein's Jana Partners, the activist and event-driven hedge fund managed by the New York–based investment firm of the same name, gained a modest 1 percent...... (read more)
Update: According to a statement on Theraclone's website, the merger agreement between Theraclone Sciences and PharmAthene, Inc. (NYSEMKT:PIP) has been terminated. In this way, PharmAthene has cancelled...... (read more)
David Einhorn’s Greenlight Capital posted a strong 4.7 percent gain in November, putting it up 19.1 percent for the year with just one month to go. The most recent monthly performance easily topped...... (read more)
Carl Icahn, the notorious investor and manager of Icahn Capital, has upped his stake in Talisman Energy Inc. (USA) (NYSE:TLM). In a newly amended filing, Mr. Icahn reported holding around 76.1 million...... (read more)
Jeffrey Smith and his fund Starboard Value disclosed, in a newly amended filing with the Securities and Exchange Commission, a letter sent to the board of TriQuint Semiconductor (NASDAQ:TQNT). Starboard...... (read more)