Hedge Fund News: John Paulson, Transocean Ltd (RIG), Facebook Inc(FB)

Page 1 of 3

Goldman Says CDO Insurer Knew Paulson Was Short (Finalternatives)
The insurer suing Paulson & Co. and Goldman Sachs Group, Inc. (NYSE:GS) over a collateralized debt obligation knew perfectly well that the hedge fund was shorting it, the bank said. In a court filing on Friday, Goldman said that ACA was aware that Paulson was shorting residential mortgage-backed securities at the time of the 2007 CDO, Abacus-2007-AC1. The bank added that ACA Financial Guaranty, the insurer, “cherry-picked” the evidence it offered in its lawsuit. Among the evidence left out was a May 2007 phone call between a Morgan Stanley bond trader and an ACA executive.

PAULSON & COAckman Won’t Realize Bet on Hong Kong’s Peg, K.C. Chan Says (Bloomberg)
Hedge-fund investor William Ackman won’t realize his bet that Hong Kong will amend its 29-year-old peg to the dollar, said K.C. Chan, the city’s secretary for financial services and the treasury. The Hong Kong Monetary Authority has injected almost $14 billion since Oct. 19 as the local currency’s move to HK$7.75 obliged it to buy U.S. dollars in the foreign-exchange market. Ackman, the founder of New York-based Pershing Square Capital Management LP said Oct. 20 he was keeping his call contracts on the city’s currency and suggested Hong Kong revalue its dollar 30 percent higher versus the greenback to curb inflation.

Linedata Signs Magenta in Asia (WatersTechnology)
Buy-side technology vendor Linedata has announced that its Global Hedge product has been selected by Magenta Advisors PTE, a Singapore-based hedge fund. Magenta, which is taking a hosted package from Linedata, will be using the portfolio management and middle office modules in order to support the fund.

JURISDICTIONS SHOULD COMPETE, BUT IN A FAIR AND EQUITABLE MANNER (Opalesque)
The success of the Cayman fund regulations are based on the innovation, creativity and forethought of the local legal and structuring talents more than a decade ago. Very quickly, the Cayman hedge fund has become the default model for an entire industry, and investment managers as well as investors have been attracted by the jurisdiction because of its efficiency. By a significant margin, Cayman remains the leading hedge fund jurisdiction selected by existing and new launch managers.

Many Chinese onshore hedge funds look to set up offshore presence in Hong Kong (Opalesque)
Hedge fund managers from the Chinese mainland are looking to diversify their operations into Hong Kong, AsianInvestor.net reports, citing sources from South African firm Skybound Capital. The firm’s China Red fund of hedge funds (FoHF) invests in mainland-focused hedge funds strictly through offshore managers, who typically have an office in Hong Kong. The FoHF runs $20m in AuM and returned 6% in 2012, says AsianInvestor. About a year ago, China Red was merged with another of Skybound’s FoHF, the Dragonfly Asia Pacific Fund, which has a regional focus.

LindenGrove launches first hedge fund with NewAlpha seed capital (HedgeFundsReview)
LindenGrove Capital, the hedge fund manager established by former Nomura proprietary traders, has launched a global macro hedge fund and received capital from Paris-based seeder NewAlpha Asset Management. The management company was founded in 2009 by Borut Miklavcic, former global head of liquid markets proprietary trading at Nomura. LindenGrove Capital Master Fund was launched in December 2012 and in January 2013 received seed money from NewAlpha to take its assets under management to more than $50 million.

Quest’s Greyhound Asia Fund returns 6.9% in 2012 (Opalesque)
Asia ex-Japan hedge fund Greyhound Asia Fund, which is managed by Doug Barnett’s Quest Management’s Sergej Belozerov, posted positive gains of 6.9% in 2012 compared with the MSCI Asia ex-Japan Index which gained 19.4% last year. In a letter, Barnett said Greyhound achieved positive performance last year while holding mostly cash during the critical European uncertainties during the late spring, protecting shareholder capital. He added that 2012 was a very challenging year for the markets because of uncertainties from the U.S., EU and China.

Page 1 of 3
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

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

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!