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
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 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

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!