Hedge Fund News: Jim Chanos, Edward Lampert & Dan Loeb

Page 1 of 2

Say What!? Pickens’ Newlywed Bliss, Einhorn’s Casino Blues (InstitutionalInvestorsAlpha)
Globally the entire world thinks the governments have their back in asset markets. Generally speaking when everybody thinks something, you might want to take a few chips off the table and say maybe that’ s not going to work out so that everybody’s going to get rich. But I could be wrong.” James Chanos of Kynikos Capital on why he thinks asset prices are in a bubble. Alpha reported this week that Chanos’ long-short strategy has lost money in the bull market. (via CNBC) “So I have a casino and I want to start a poker game in the casino, so I get three card sharks and I tell them, go sit there and start the game. Make it look like a good game’s going on. There are no 4s, 9s, there are no queens in the deck…

Jim Chanos on china map

Hedge funds’ leveraged bets on market rally to magnify sell-offs (Reuters)
Hedge funds are borrowing record amounts of money to fund bets that stock markets will continue rising, creating conditions that could accelerate price falls if those leveraged positions are hurriedly closed. Although global equities look set to advance for the remainder of the year, nervousness about the strength of China’s economy and the U.S. Federal Reserve’s plans to scale back its stimulus programme could mean a rocky ride for markets.

Hedge Fund Merger: Investcorp and Eyck Capital Management (HedgeCo)
Investcorp’s US based hedge fund business is teaming up with UK manager Eyck Capital Management LLP to offer its investors’ access to a specialized event-driven and distressed credit strategy spanning the European opportunity set. The London-based investment manager led by Khing Oei, is the latest asset manager backed by Investcorp, which has more than $11 billion in client and proprietary assets under management. Historically, Investcorp provides initial seed and acceleration capital ranging from $50 to $100 million.

Lampert’s Sears Still Has Turnaround Options (TheStreet)
Though recent media reports have cast Edward Lampert‘s decision to back off from holding Sears Holdings Corporation (NASDAQ:SHLD) commercial paper as a bad sign for the department store retailer, its financials counsel against immediate panic. And Lampert, who engineered the merger of Sears with Kmart in 2005 and has been CEO for a little over a year, continues to be in it for the long term, according to people familiar with his thinking. Lampert’s hedge fund, ESL Partners, has been steadily dropping its holdings in Sears commercial paper over the past year. The latest pullback was from $140 million in November, to nothing currently, according to regulatory filings. The company still has $9 million in short-term debt, filings show.

Why hedge fund manager is bullish on jobs report (USAToday)
One hedge fund manager is bullish on the U.S. jobs market. “The monthly employment report shows us what good old-fashioned, bread-and-butter job creation is about: Higher consumer demand equates to job growth,” says Todd Schoenberger, managing partner at hedge fund LandColt Capital. Indeed, at first blush the stock market likes the March jobs report. The latest government reading on jobs saw a solid 192,000 non-farm jobs created last month (a tad lower than the 200,00 estimate) but also got a bump from upward revisions to the February jobs number (revised up 22,000 to 197,000) and January (revised up 15,000 to 144,000).

Third HFMWeek Award win for Legis Group (BusinessLife)
Legis Group was named ‘Best administrator – under $30bn Fund of Hedge Funds’ at the HFMWeek European Service Provider Awards 2014 last week (27 March). The awards, which were announced at a ceremony held at The Hurlingham Club in London, recognised companies that have outperformed their peer group and provided outstanding service and support to the European hedge fund industry over the past year. Hosted by Andy Zaltzman, the awards featured a number of categories and were judged by a panel of independent senior industry representatives who took into consideration financial progress, growth and genuine innovation across a number of different business areas to identify the eventual winners of each category.

Hedge funds meet the masses (CNBC)

Page 1 of 2
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 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

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

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!