Hedge Fund News: Leon Cooperman, Dan Loeb & George Soros

Page 1 of 2

Omega’s Cooperman Sees Stocks Rising After ‘Healthy’ Retreat (SFGate)
The stock market’s decline this year is healthy and the Standard & Poor’s 500 Index probably will end 2014 higher, Leon Cooperman, chairman of hedge fund Omega Advisors Inc., said on Bloomberg Television. “I say it’s a correction that’s creating some values, which is what we should all be happy about,” Cooperman said on Bloomberg’s “Market Makers” program. “You don’t want to buy stocks at a high, you want to buy stocks when they go down.” The S&P 500 lost 0.1 percent to 1,753.82 at 1:33 p.m. in New York, bringing its slide in 2014 to 5.1 percent, the worst start to a year since 2009. The gauge probably won’t fall below 1,600 this year and may climb to as high as 2,000, Cooperman said.

Leon Cooperman Omega Advisors

Jennifer Fan, former head of Arbalet commodities fund, joins Millennium (HedgeWorld)
Jennifer Fan, a hedge fund manager specializing in finding relative value in energy and agriculture markets, has joined Millennium Management to continue that strategy after closing her own commodities fund last year, sources said on Wednesday [Feb. 5]. The 30-year-old Fan, one of the few women hedge fund managers, started work this month at New York-based Millennium, according to her LinkedIn page, after shuttering the fund she ran, Arbalet Capital, in late 2013. She declined comment when contacted by email.

Local Man Aims To Rescue Loeb Family Name From Hedge-Fund Infamy (DealBreaker)
Third Point’s Daniel Loeb has made his surname synonymous on Wall Street with tear-inducing letters, kicking the CEOs of public companies in the nuts, and rubbing rivals’ faces in his success (and their failure). He’s the Loeb everyone thinks of when they think of the name Loeb, even though long before Loeb made his way over here from Santa Monica, there were another group of Loebs on Wall Street. Jamie Kempner traces his lineage to the famed New York banking Loebs, and he’s out to prove, well, something, we’re sure.

Hedge Funds Go After Bankers For “Aiding And Abetting” Petters’ Ponzi Scheme (HedgeCo)
A group of six hedge funds led by Ritchie Capital Management are suing JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), UBS AG (ADR) (NYSE:UBS), Merrill Lynch and 7 other entities. The hedge funds claim that the banks “aided and abetted Thomas Petters’ $3.7 billion Ponzi scheme.” Courthouse News reports. Petters was convicted for turning his hedge fund, Petters Group Worldwide into a $3.65 billion Ponzi scheme and received a 50 year federal sentence. The group of hedge funds claim they lost $177 million in the scheme. They put two dozen major banks on notice in a summons.

Apex hedge fund to CEO: Get off your yacht! (CNBC)
Sandy Colen is doing his best Dan Loeb. The chief investment officer of $1.23 billion hedge fund firm Apex Capital wrote a scathing letter on Feb. 3 to the board of business intelligence software company MicroStrategy Incorporated (NASDAQ:MSTR), calling for a new CEO and various corporate changes. But the real zinger of the letter is reminiscent of Third Point’s Loeb, famous for taking on the perceived personal excesses of chief executives with his so-called poison pen.

Puerto Rico credit in dire situation: CEO (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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

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!