Hedge Fund News: Jim Chanos, Thomas Steyer & Carl Icahn

Page 1 of 2

Why James Chanos Is Short Valeant, Long Allergan (WSJ)
Short-seller James Chanos said he’s betting against shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) -2.92% amid its unsolicited $46 billion bid for Allergan, Inc. (NYSE:AGN) -0.87%, saying the company is “playing aggressive accounting games.” Mr. Chanos, founder of hedge fund Kynikos Associates, criticized Valeant’s acquisition strategy, noting the pitfalls and potential accounting issues associated with relying on deals for long-term growth. He also suggested Valeant may be bidding against itself in its pursuit of Allergan, a stock which he said he is long. Valeant earlier this week said it would improve its offer for Allergan after the initial bid was rejected.

Jim Chanos on china map

Carl Icahn’s Fund Down In First Quarter As Winning Streak Ends (Forbes)
At the age of 78, billionaire Carl Icahn has been running circles around most hedge fund mangers in recent years. With winning bets on the shares of companies like Chesapeake Energy Corporation (NYSE:CHK) -2.29% and Netflix, Inc. (NASDAQ:NFLX) -1.63%, it has been a very strong stretch for Icahn, who has helped usher in a golden age for the activist investing style he helped invent. But in the first quarter of 2014, Icahn’s winning streak came to an end. Icahn’s investment fund, which he uses to bet on stocks with his own money and money belonging to his publicly-traded Icahn Enterprises, fell by 0.4% in the first three months of the year, according to an investment presentation released by Icahn Enterprises LP (NASDAQ:IEP).

Join us for HedgeCo’s May Hedge Fund Networking Event in NYC on Thursday (HedgeCo)
We’re pleased to announce HedgeCo in conjunction with Alternative Assets will be hosting the Third Thursday Hedge Fund Social event on May (5/15) in New York City. The HedgeCo Networking Events are a chance for investors, hedge fund managers, and other industry professionals to come together and enjoy a night of sharing ideas and meeting new contacts. Recognized as having the largest attendance for any type of event in the hedge fund industry, the HedgeCo Networking Events have quickly become the top destination for generating new business and meeting new industry contacts. Space is limited for this event so please RSVP to reserve your place!

Billionaire: Heiress ex is faux-poor (PageSix)
Annabelle Bond may be crying poverty, but she could be the most pampered, high-maintenance heiress in the world, according to court papers filed on behalf of her ex-boyfriend, Warren Lichtenstein. Annabelle’s father, Sir John Bond, who built HSBC Holdings plc (NYSE:HBC) into a banking colossus, is a billionaire. Her boyfriend, Andrew Cader, co-owner of the Tampa Bay Rays, has hundreds of millions of dollars. And Lichtenstein, who runs the Steel Partners hedge fund, is also a billionaire. Lichtenstein, repped by lawyer Stanley Arkin, is seeking in Manhattan Supreme Court to prevent the enforcement of a one-time $600,000 child-support judgment that Bond, 44, obtained in Hong Kong.

A look behind the curtain hiding Tom Steyer’s fortune (WashingtonExaminer)
Silicon Valley billionaire Tom Steyer has generated lots of adoring coverage in the mainstream media with his promise to spend $100 million to elect Democrats who oppose the Keystone XL pipeline. Fighting Keystone, which would carry millions of barrels of Canadian tar sands oil south to U.S. refineries, is just one part of Steyer’s activism on behalf of “green” energy and against fossil fuels, including coal and natural gas. Outside of the mainstream media, however, independent journalists and bloggers are doing deep-dive research into how Steyer made his own fortune running the Farallon Capital Management hedge fund.

Cramer digs into Tepper’s warning (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!