Hedge Fund News: Paul Singer, Barry Rosenstein & Dan Loeb

Page 1 of 2

Elliott Says Deflation Less Likely Than Asteroid Hitting (Bloomberg)
Elliott Management Corp., the $24.1 billion hedge-fund firm run by Paul Singer, said recession is a possibility in the developed world, while the deflation that keeps central bankers awake at night is less likely than an asteroid hitting the earth. “The fact remains that important structural reforms and pro-growth policies have been absent in the developed world,” Elliott wrote in a letter to investors, a copy of which was obtained by Bloomberg News. “Their economies are running on monetary extremism, which so far has not delivered the promised growth or jobs. We are not predicting a recession. We are just keeping it in the possibility mix.”

Paul Singer ELLIOTT MANAGEMENTJANA Nirvana fund to close to new investors; others under review (Reuters)
JANA Partners, the hedge fund founded by activist investor Barry Rosenstein, will stop accepting new money into its $4.7 billion Nirvana funds on May 1, and may limit capital into other portfolios, according to a letter to investors. Several other hedge funds have also curbed inflows or returned money because of a lack of clear investment opportunities at a time when demand for hedge funds has been growing. “Given the significant growth in our capital base in recent years it would be prudent to close our JANA Nirvana funds to outside investments,” JANA Partners said in its quarterly letter seen by Reuters on Tuesday.

Sotheby’s Poison Pill Said by Loeb to Hinder Proxy Fight (3) (Businessweek)
Sothebys (NYSE:BID) is misusing an anti-takeover defense to hinder Third Point LLC’s proxy fight to add directors to the auction house’s board, a lawyer for the $14.5 billion hedge fund run by Dan Loeb argued. Sotheby’s poison-pill defense shouldn’t bar Third Point from owning more than 10 percent of Sotheby’s shares because the fund isn’t angling for control of the board, Third Point lawyer William Lafferty told a judge today. Loeb wants Sotheby’s May 6 annual meeting delayed so the defensive measure can be fully reviewed.

Icahn, Ackman Bury Hatchet (FINalternatives)
For a decade, William Ackman and Carl Icahn have been enmeshed in one of Wall Street’s nastiest, bitterest and, at times, entertaining feuds. But the dispute, which intensified over the past year-and-a-half as the two battled over nutritional supplements company Herbalife Ltd. (NYSE:HLF), is at an end. Ackman, who runs Pershing Square Capital Management, and Icahn patched things up last year with a phone call. The younger hedge fund manager telephoned Icahn’s assistant on April 24 with a simple message: “I am calling to forgive Carl,” The Wall Street Journal reports. Icahn called Ackman back to reciprocate. “It is a blessing to forgive, and I forgive you,” Icahn said.

Seattle Clippers? What Donald Sterling’s lifetime ban could mean for ex-Microsoft CEO Steve Ballmer (GeekWire)
In light of racist comments Donald Sterling made during a recorded conversation, today the NBA placed a lifetime ban on the Los Angeles Clippers owner and said it will act quickly to force the 80-year-old to sell the team. That’s made at least a few people in Seattle wonder: Will former Microsoft Corporation (NASDAQ:MSFT) CEO Steve Ballmer and hedge fund manager Chris Hansen now make an attempt to purchase the Clippers and move them up to the Emerald City? Ballmer and Hansen came close to buying the Sacramento Kings franchise one year ago with plans to build a brand new sports arena, but they ultimately lost out after an NBA committee blocked the $625 million deal.

Market too similar to 2000: Cramer (CNBC.com)

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 Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!