Hedge Fund News: Glenn Dubin, Seth Klarman & Tim Cook’s Dinner Plans

Page 1 of 2

Hedge funds decry Larry Summers ‘fiasco’ (HereIsTheCity)
Prominent hedge fund managers criticized President Obama’s decision not nominate Larry Summers to be chairman of the Federal Reserve. “I think the process, specifically talking about Larry Summers and the decision to not move forward with him as Fed chairman, is horrendous,” said Highbridge Capital Management co-founder Glenn Dubin at the Bloomberg Markets 50 Summit. Dubin, whose Highbridge firm is owned by JPMorgan Chase & Co (NYSE:JPM), also said the process around Summer’s failed bid was a “fiasco” and that “he was hung out to dry.” He said Summers would have made a “great” chairman.

HIGHBRIDGE CAPITAL MANAGEMENT

Klarman returns money to investors (NYPost)
The so-called smart money is bailing. That seems to be the message from hedgie Seth Klarman, who is telling investors in his $28 billion Baupost Group that he’s going to give them some of their money back at the end of the year. The fourth-largest hedge fund in the US wants to limit its size to $25 billion, according to Institutional Investor, which first reported the news. Klarman, 56, a devotee of Warren Buffett’ s value investing philosophy, has been warning investors this was in the cards since April but did not detail how much he would give back.

Prosecutors Pursue Big SAC Settlement (WSJ)
Federal prosecutors, seeking to cap a major chapter in an insider-trading crackdown, proposed settling a criminal case against hedge fund SAC Capital Advisors LP for $1.5 billion to $2 billion, people familiar with the case said. At a meeting late last week at the U.S. attorney’s office in Manhattan, SAC lawyers argued for a lower settlement amount—and that a separate $616 million civil regulatory penalty SAC agreed to pay earlier this year be deducted from any criminal sanction, according to the people.

BoE: no action now on housing, to focus on hedge fund rate risks (Reuters)
Britain’s housing recovery does not require any action from regulators but will need to be watched closely, the Bank of England’s Financial Policy Committee said on Wednesday. The FPC, which has been tasked with spotting risks to the economy from the financial system, also singled out hedge funds for an examination of their vulnerability to rises in long-term interest rates. The FPC said it made no new recommendations at its most recent meeting on September 18.

Skybridge’s Ray Nolte says Asian hedge funds face performance and asset-raising challenges (Opalesque)
Asian hedge funds are facing major difficulties compared with their larger counterparts in the West as they are forced to achieve higher performance and stay relevant in the changing market environment, said Ray Nolte, Co-Managing Partner and Chief Investment Officer of SkyBridge Capital. Nolte said in an interview with Investment Pension & Asia “The hedge fund industry is going through both cyclical and secular changes. But as an industry, assets under management are peaking in absolute terms so funds are being raised.”

The advantages and disadvantages of investing in hedge funds (MoneyManagement)
Investing in hedge funds is one of the more polarising topics in the investment world. There are strongly-held views at each end of the spectrum, with little in-between, writes Craig Stanford, who highlights the potential benefits and addresses common concerns about investing in hedge funds. The advocates of hedge fund investing paint a rosy picture without acknowledging the negative aspects, while the critics paint an opposing view without acknowledging the potential benefits.

‘Sweet spot’ for banks: Hedge-fund manager (CNBC)

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!