Hedge Fund News: James Dinan, Dan Loeb & Citadel Investment Group

Page 1 of 2

James Dinan’s York Fared Well in the First Half (InstitutionalInvestorsAlpha)
James Dinan‘s New York-based hedge fund firm, York Capital Management, got off to a strong start this year, making it perhaps the best-performing multistrategy firm in the first half of 2014, thanks to gains in its special situations positions, among others. Its York Investment fund is up 12.1 percent through the first six months of the year after gaining 5.5 percent in the second quarter. The firm’s York Credit Opportunities fund is faring even better, posting a 12.8 percent gain for the year. York declined to comment on the results. And it is unclear whether the funds…

YORK CAPITAL MANAGEMENT

No Early Release For Ailing Israel (Finalternatives)
When she sentenced hedge fund fraudster Samuel Israel to 20 years in prison six years ago, U.S. District Judge Colleen McMahon knew exactly what she was doing—and she isn’t having doubts. McMahon has rejected Israel’s bid for an early release from the 22 years she sentenced him to—the extra two years were for bail-jumping. Israel argued that the Federal Bureau of Prisons wasn’t adequately treating his medical ailments and that he suffered a “near-death experience.”

Hedge funds increase short exposure (GlobalInvestorMagazine)
Aggregate hedge fund performance was negative at -0.35% in a volatile July, making it the industry’s fourth month of losses in 2014. This dropped year-to-date returns to 2.62%, according to eVestment. There was second consecutive month rise of short exposure heading into July. Median short exposure had been near its five-year low through much of 2013, but has since risen to its highest level since February 2010.

Third Point’s Loeb Cost Sotheby’s $24 Million in Fight (Bloomberg)
Fighting with billionaire activist hedge-fund investor Daniel Loeb can get expensive. A proxy battle cost Sothebys (NYSE:BID) $24.3 million in the first half of this year, the New York-based auction house said today as it reported second-quarter earnings. The amount is larger than the $22 million expense reduction the company announced earlier this year. The fight ended in May when Sotheby’s appointed Loeb to its board. Sotheby’s said it incurred the charges for advisory, legal and other fees associated with the proxy contest. Second-quarter profit fell 15 percent on higher tax expenses, Sotheby’s said in a statement.

Madoff trustee cannot void Merkin, Fairfield settlements -court (Reuters)
In a setback for the trustee seeking money for the former customers of imprisoned fraudster Bernard Madoff, an appeals court refused to void two settlements benefiting investors who sued “feeder funds” that sent their money to Madoff. Friday’s unanimous decision by a three-judge panel of the 2nd U.S. Circuit Court of Appeals in New York leaves intact a $410 million settlement with J. Ezra Merkin, a Wall Street hedge fund manager who oversaw the Ariel Fund Ltd and Gabriel Capital LP, and an $80 million settlement with Fairfield Greenwich Ltd.

Squawk takes a stand on Valeant (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 World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

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

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!