Hedge Fund News: Larry Robbins, Alan Howard & Ken Griffin’s Bold Statement

Page 1 of 2

Larry Robbins’ Obamacare Bet Makes Him Hedge Fund Manager Of The Year (Forbes)
Two major and controversial stories have dominated America in the last two years. One of them is Obamacare, President Barack Obama’s signature legislative achievement that is currently facing mounting problems and criticism as it gets implemented. Another important development in America has been the roaring comeback of the U.S. stock market, which has soared to new all-time highs. One man has harnessed these two trends to make a fortune like no one else. Larry Robbins, who runs hedge fund firm Glenview Capital Management, made a huge bet on Obamacare and the U.S. stock market that is paying off in a big way.

GLENVIEW CAPITAL

Hedge Fund Industry on the Road to Recovery (DigitalJournal)
Extreme market volatility, adverse global macroeconomic conditions, underperforming markets and low consumer confidence all colluded to create an extremely hostile environment for hedge funds last year. But in many ways, 2012 was rock bottom, and the hedge fund industry inevitably became stronger in the face of that challenge. That is why 2013, despite a growing regulatory burden, is shaping up to be a better year, paving the way for sustained growth in the near future. The World Finance Hedge Fund Awards represent the best players in the industry and offer an insight into the many success stories amid an ever-volatile marketplace.

Hedge funds added to this year’s gains in October (Reuters)
Hedge funds added to their performance gains in October as stock markets continued to rally, boosted by the United States avoiding a default on its debt and further signs the world’s largest economies are growing, new data showed on Tuesday. According to the SS&C GlobeOp Hedge Fund Performance Index, the average fund returned 1.06 percent last month, bringing year-to-date gains to 9.93 percent. The index rose 0.1 percent in October 2012 and was up 7.78 percent in the 10 months to end October last year. Hedge funds are enjoying a strong 2013, with most of the main strategies making their clients money and leaving managers to collect the lucrative performance fees they charge…

Hedgies have built a sector on an aura of exclusivity (FT)
You are a discerning member of the elite. So please read on. We have to be selective, obviously. Just as Goldman Sachs Group, Inc. (NYSE:GS) will doubtless be in inviting investors to participate in Petershill II, a private equity fund that will buy stakes in hedge fund partnerships. One can’t give any old Tom, Dick or Harriet access to such an exclusive investment. Or the go-ahead to peruse this incredibly classy column. An aura of privileged access has been a key marketing tool for hedge funds, privately owned asset management businesses that took off in earnest in the UK over a decade ago.

SEC Makes Deferred Prosecution Agreement With Hedge Fund Administrator (HedgeCo)
For the first time in SEC history the agency has deferred prosecution against a former hedge fund administrator who helped the SEC take action against a hedge fund manager who stole investor assets. The SEC agreed to a deferred prosecution agreement (DPA)* with Scott Herckis when he helped them secure an emergency enforcement action against Berton M. Hochfeld, the founder of Connecticut-based hedge fund Heppelwhite Fund LP. Hochfeld is accused of misappropriating more than $1.5 million from the hedge fund and overstating its performance to investors.

Ex-GoldenTree’s Wagner Joins Trilogy as President of Merged Firm (BusinessWeek)
Leon Wagner, the retired chairman of GoldenTree Asset Management LP, joined Greenwich, Connecticut-based credit hedge-fund firm Trilogy Capital LLC, according to a letter to investors. Wagner’s credit-focused investment firm LWPartners LP will merge with Trilogy and become a partner in the hedge-fund manager, according to the Nov. 8 letter, a copy of which was obtained by Bloomberg News. Wagner will be president of the combined firm, which is being renamed TrilogyLWP LLC.

Asian currencies out of favor again? (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 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

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

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!