Hedge Fund News: Martin Whitman, Michael Platt & Lansdowne Partners

Page 1 of 2

Hedge Fund Manager Blasts Nobel Prize Winner’s Work Calling It ‘Utter Nonsense’ And ‘Unscholarly’ (Business Insider)
ValueWalk obtained a letter where Third Avenue Management’s chairman/founder Martin Whitman blasts Nobel Prize Laureate Eugene Fama. “I am disappointed that a Nobel Prize was awarded to Eugene Fama, who studies only markets and prices; and whom, I daresay, does not focus on Form 10-Ks or the footnotes to a corporation’s audited financial statements,” Whitman said in the opening of the letter to shareholders. Fama, a professor at Chicago Booth, won the Nobel Prize in Economic Science last year with Lars Peter Hansen and Robert Shiller.

BlueCrest Builds a Hedge Fund Empire (Businessweek)
When hedge fund managers venture into new areas, they typically move gradually. Not Michael Platt, co-founder of BlueCrest Capital Management. To expand from fixed-income investing into stocks, he negotiated a $750 million loan from 16 banks in July, allowing his firm to hire at least 25 money managers and provide them with capital to start trading immediately, according to two people with knowledge of the loan who asked not to be identified because it isn’t public. “I can’t think of any other examples like this,” says Daniel Celeghin, a partner at Casey Quirk & Associates, which advises hedge funds on fundraising. “It’s just the nature of finance, where if you are big and successful, people want to do business with you.”

Paul Ruddock

Lansdowne Rides Airline Bet to Top Europe Hedge-Fund List (Bloomberg)
On Oct. 11, the U.K. government sold a majority stake in Royal Mail Plc, the British postal service, in an initial public offering. Interest from both retail and institutional investors was strong. When the trading frenzy died down, two names emerged with large positions: Lansdowne Partners Ltd. and The Children’s Investment Fund Management UK LLP. Royal Mail was a good investment for the two London-based hedge-fund managers, as shares soared 38 percent on the first day of trading and were up 70 percent as of Jan. 9.

Lesser-known Greenwich hedge funds make top performers’ index (The Advocate)
They’re not investors most people have heard of, but three Greenwich-based hedge funds cracked the world’s top 30 in terms of performance last year. Bloomberg’s “Top-Performing Large Hedge Fund” list for 2013, which will be published in the February issue of Bloomberg Markets magazine, will feature near the top portfolios managed by JAT Capital, AQR Capital and Blue Harbour Group — three firms headquartered within about a mile of each other, from Greenwich Avenue down to Greenwich Harbor. “We are thrilled that three area firms have performed well enough to make the list,” said Bruce McGuire, founder and president of the Connecticut Hedge Fund Association, in an email Thursday.

Former hedge fund trader Julian Rifat set to be charged in insider trading case (Telegraph.co.uk)
British regulators are set to charge a former hedge fund trader over allegations he was involved in an insider trading ring. Julian Rifat, a former trader at US hedge fund Moore Capital, was arrested in March 2010 as part of Operation Tabernula, which the authorities described at the time as the largest ever operations against alleged insider trading. He was due to appear in court to tomorrow, but the hearing has been scrapped as the Financial Conduct Authority prepares to charge him, according to one source with knowledge of the process. Unnamed sources cited by Bloomberg said that Mr Rifat’s lawyers had been told today he would be charged no later than early February.

The hedge fund polar-fleece love affair (CNBC.com)

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

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!