Hedge Fund News: Dan Loeb, Emulex Corporation, Yahoo! Inc.(YHOO)

Page 1 of 3

THIRD POINTThird Point Nominee Gains Seat on Yahoo Board (HedgeFund)
Hedge fund manager Dan Loeb has gained control of another seat on the board of internet company Yahoo! Inc.(NASDAQ:YHOO). The New York Times reported that Max Levchin, co-founder of e-commerce service PayPal, will serve as the fourth director nominated by Loeb, whose hedge fund firm Third Point is a Yahoo shareholder. He joins fellow corporate turnaround expert Harry Wilson, media consultant Michael Wolf and Loeb himself. The article also said that Intuit CEO Brad Smith and David Kenny, the head of the Weather Channel, are stepping down from Yahoo’s board.

White House, Hedge Funds Discuss Fiscal Cliff (HedgeFund)
When eVestment|HFN put out a poll recently asking visitors to the website if President Barack Obama should meet with hedge fund managers to discuss the “fiscal cliff” crisis, little did it know that the White House would go forward with such a proposition. That’s what Bloomberg reported this week as the president’s senior adviser Valerie Jarrett was scheduled to meet Wednesday with Daniel Och of Och-Ziff Capital Management. The meeting followed one with Avenue Capital founder Marc Lasry, a longtime Obama supporter, earlier this month.

Florida hedge fund III Associates celebrates 30 years, is optimistic for 2013 (Opalesque)
Few hedge funds can say they’ve lasted 30 years, fewer still can say that they have lasted that long, and are seeing consistent investor interest. For Boca Raton-based III Associates, at 30 the future looks bright. III Associates, is a hedge fund that specializes in relative value portfolios in the global fixed income and credit markets with $2.1bn in assets under management. I spoke with Garth Friesen, co-CIO and Principal about where he sees the firm, and financial markets headed going into the new year. As a firm, III Associates offers its clients including fund of funds and pension funds, with a targeted selection of innovative fixed income, credit, and tail risk products as well as individualized trading strategies. Friesen has been with the firm since 1998, and also currently serves on the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets.

Former Hedge Fund Founder Ordered to Pay $5 Million for Securities Law Violations (JDSupra)
The US District Court for the Southern District of New York recently ordered the investment adviser to two hedge funds, and its managing director, to pay nearly $5 million in disgorgement, prejudgment interest and civil penalties for violations of the federal securities laws. Defendant Chetan Kapur, through his company ThinkStrategy Capital Management, LLC, induced investors into buying shares in two hedge funds he managed by making misstatements about the hedge funds’ past and present performance, their assets, longevity, and other material misrepresentations. Defendants subsequently entered into consent judgments with the Securities and Exchange Commission and the court, and agreed to pay disgorgement of ill-gotten gains, prejudgment interest thereon, and civil penalties.

Man Group faces heavy GLG write-off (FT)
Man Group is weighing up significant accounting write-offs next year relating to its 2010 acquisition of GLG Partners, a move that will raise eyebrows after the announcement on Monday that former GLG boss Emmanuel Roman is to be the new chief executive of the company. People at Man told the Financial Times it was likely that further impairments would have to be taken in February, when the company announces its full-year results, after a difficult 12 months of lacklustre performance and investor outflows.

Falcone’s Harbinger Not Scrambling to Meet Redemptions (TheStreet)
Harbinger Group Inc (NYSE:HRG), a holding company majority owned by Philip Falcone’s struggling hedge fund Harbinger Capital Partners traded nearly 27% lower after the company announced a secondary offering on Thursday of 20 million shares at a price of $7.50. While the offering states that three Harbinger Capital funds are the selling shareholders, a source familiar with the situation denies that the sales are a reaction to investor redemptions. Instead, the share sale is part of a long-term plan to increase Harbinger Group’s public float on the New York Stock Exchange, the source said.

Page 1 of 3
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 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

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

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!