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Hedge Fund News: Paul Tudor Jones, Monarch Capital, The Boeing Company (BA)

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Editor’s Note: Related Tickers: Goldman Sachs Group, Inc. (NYSE:GS), Hess Corp. (NYSE:HES), Brocade Communications Systems, Inc. (NASDAQ:BRCD), The Walt Disney Company (NYSE:DIS), The Boeing Company (NYSE:BA), Apple Inc. (NASDAQ:AAPL)

Tudor hedge fund hires leading IMF official (Financial Times)
TUDOR INVESTMENT CORPHedge fund billionaire Paul Tudor Jones has hired one of the International Monetary Fund’s most senior officials in a move highlighting the attraction of private sector careers for top public sector figures. Lorenzo Giorgianni, the deputy head of the IMF’s policy department, will join Mr Jones’s Tudor Investment Corporation in October, according to people familiar with the matter. Mr Giorgianni will be chief economist for emerging markets at Tudor.

Hedge funds betting against gold (Sydney Morning Herald)
Hedge-fund managers are making the biggest ever bet against gold as billionaire George Soros sold holdings last quarter and Goldman Sachs Group, Inc. (NYSE:GS) predicted more declines after the longest slump in four years. Gold for immediate delivery lost as much as 1.5 per cent to $US1,338 an ounce, the lowest price since April 18, and traded at $US1,348 in Singapore this morning. Gold mining companies listed on the Australian Securities Exchange make up seven of the ten worst performers this morning. Kingsgate Consolidated is down 7.6 per cent, Perseus Mining down 7.4 per cent and Silver Lake Resources 6.6 per cent. Evolution Mining, Alacer Gold, Medua Mining and Troy Resource are also down at least per cent.

US hedge fund Monarch to open office in London (Financial Times)
Monarch Capital, the prominent US distressed debt hedge fund, is opening a new office in London in a sign of growing interest in Europe as the continent’s banks prepare to offload troubled assets and undervalued loans. Monarch, which was formed from the debt trading arm of investment bank Lazard in 2002, has about a fifth of its $5.5bn under management invested in Europe and expects the figure to grow as more opportunities arise. “This is a long-term commitment to investing in Europe and the London financial community,” Michael Weinstock, chief executive of Monarch told the Financial Times.

Boeing Is The New Hedge Fund Favorite (FOX2now.com)
Hedge fund managers are boarding The Boeing Company (NYSE:BA). It’s unclear whether the top hedge fund managers would bet on riding one of Boeing’s troubled Dreamliners, but Boeing was the favorite stock of the top 50 hedge fund managers in the world in the first quarter of 2013, according to FactSet.
The Boeing CompanyHedge funds poured roughly $1.6 billion into The Boeing Company (NYSE:BA), helping push the airplane manufacturer’s stock up 31% so far this year. Apple Inc. (NASDAQ:AAPL) was once the “it’ stock among hedge funds. That’s changed.

Credit: The Boeing Company (NYSE:BA)

Hedge Fund Owner Gets Subpoena to Testify (New York Times)
Steven A. Cohen has received a subpoena to testify before a grand jury in the government’s insider trading investigation into his hedge fund, SAC Capital Advisors, a development that signals a newly aggressive phase in the multiyear inquiry, according to lawyers and executives briefed on the case. Issued last week, the grand jury subpoena came as part of a broader round of requests from criminal authorities. Other SAC executives also received subpoenas to testify before the grand jury, the lawyers and executives said, and the fund itself received requests for information about its activities.

From pension to hedge fund (BDlive)
As has happened to many others, when he was ready to retire Tom de Lange realised his pension could not sustain his lifestyle. Mr de Lange, who spent his working career as a metallurgist at Kumba Iron Ore and retired before the age of 50, decided to take destiny into his own hands. He started playing the stock market and was able to consistently outperform the returns from his pension fund. His company is now Emperor Asset Managers and its Robert Falcon Scott Fund delivered returns of 51.67% to investors over the past year — far exceeding the returns on the JSE’s All Share index.

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