Hedge Fund News: John Burbank, Phil Falcone & Jim Rogers

Page 1 of 2

Hedge fund moguls put money on Asian Internet, low-volume stocks (Reuters)
From Asian Internet stocks, which have boomed over the last year, to food and paper products companies, prominent hedge fund investors listed their favorite stocks on Thursday at an industry meeting dominated by talk of where markets will move. John Burbank stuck with the Chinese Internet stocks that helped boost returns at his $3.8 billion Passport Capital last year. Real estate Internet portal SouFun Holdings Ltd (NYSE:SFUN), which climbed 121 percent in the last year, and discount online retailer Vipshop Holdings, which climbed 417 percent in the last year, made the list as his favorites.

John Burbank PASSPORT CAPITAL

Hedge fund billionaires sleepless over deflation: SkyBridge’s Scaramucci (MarketWatch)
Wall Street’s hedge fund billionaires are sounding increasingly worried about deflation. MarketWatch sat down with Anthony Scaramucci, SkyBridge Capital’s founder and co-managing partner, to see if he could distill the mood at the big hedge fund conference that took place in Las Vegas this week. Scaramucci, the architect of the SALT conference, says the confab should be looked at as a gathering of contrarians. As a result, the tone emanating out of the luxurious Bellagio in past years has often been at odds with overall market sentiment.

Hedge funds work and play hard in Vegas (CNN)
Fully stocked poolside cabanas, a private Lenny Kravitz concert, and oh yeah, access to some of the top investors in the world. That was the scene at the Skybridge Alternative Investments conference at the Bellagio hotel and casino in Las Vegas this week, where some of the world’s biggest hedge fund moguls, political figures and entertainers came to network, party and share ideas. “This is speed dating for hedge fund managers,” said Mitch Ackles, president of the Hedge Fund Association.

Billionaires are smarter, study says (CNBC)
Economist Paul Krugman recently wrote that the multibillion-dollar salaries of top hedge fund managers proved that education plays little role in the growing wealth gap. The rich get rich, he said, because of the “runaway financial system” and investors making money from money. “Modern inequality isn’t about graduates,” Krugman wrote. “It’s about oligarchs.” But a new study offers a different view. Jonathan Wai, a research scientist at Duke University and part of the school’s Talent Identification Program, looked at the world’s billionaires and global elite. He found that billionaires are, as a group, very highly educated and have high cognitive abilities. About a third of the world’s billionaires attended elite schools worldwide.

LightSquared Keeps Burning Cash (WSJ)
Philip Falcone‘s LightSquared blew through another $55.4 million last month, bringing the company’s total losses to $1.3 billion since it filed for bankruptcy two years ago. In a monthly operating report filed Thursday with U.S. Bankruptcy Court in Manhattan, LightSquared again attributed a bulk of the losses to interest payments on its debt. In April, those payments totaled $36.9 million, bringing the amount of interest paid to $788.2 million since the wireless venture’s May 2012 Chapter 11 filing. LightSquared’s case had another major glitch last week when Judge Shelley Chapman threw out its restructuring plan, calling it a “sophisticated shell game” engineered by Mr. Falcone to be too unfair to DISH Network Corp. (NASDAQ:DISH) -0.33% Chairman Charlie Ergen, the largest holder of LightSquared bank debt.

Darden books $2.1 billion price for Red Lobster seafood chain (GlobalPost)
Darden Restaurants, Inc. (NYSE:DRI) said it would sell Red Lobster to private equity firm Golden Gate Capital for $2.1 billion in cash, defying activist investors who opposed plans to shed the struggling seafood chain. Darden said the sale was not subject to shareholder approval and should close in the quarter ending in August. Its shares were down 4.1 percent at $48.62 in midday trading on the New York Stock Exchange. Hedge fund Starboard Value LP, which owns about 5.5 percent of Darden’s outstanding shares, opposed a sale or spinoff of Red Lobster, saying it could destroy as much as $800 million of shareholder value.

Next week’s earnings could buck negative trend: Cramer (CNBC)

Page 1 of 2
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

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

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!