Hedge Fund News: Phil Falcone, John Paulson & Thomas Kempner

Page 1 of 2

Falcone Accused of Using Company Assets in Cash Crunch (NYTimes)
An investor has accused the hedge fund billionaire Philip A. Falcone of using his publicly listed company “to bail himself out” after a reaching an $18 million settlement with the Securities and Exchange Commission. In the weeks after the S.E.C. settlement last August, Mr. Falcone’s hedge fund Harbinger Capital Partners was confronted with a flurry of requests from investors to return their money, according to a complaint filed by a Harbinger Group shareholder, Haverhill Retirement System. …By doing so, “Falcone effectively used Company assets to bail himself out of a personal financial crisis,” the complaint said.

HARBINGER

Brevan Howard Vet Stonberg To Winton (Finalternatives)
A former Brevan Howard Asset Management partner has joined Winton Capital Management. Stephen Stonberg was named a senior adviser at the quantitative hedge fund, Wealth Manager reports. He joins the firm from Schroders in New York, where he has served as a consultant since leaving his post as head of product management for alternatives at Credit Suisse Group AG (NYSE:CS) last year. Prior to joining the bank in 2011, Stonberg spent five years at Brevan, where he was head of its U.S. office.

John Paulson’s Journey, From Subprime Bets to Dutch Phone Calls (WSJ)
After talking up the prospects for the European telecom sector, billionaire investor John Paulson is putting his money where his mouth is. The hedge-fund manager has emerged as a shareholder in Dutch operator KPN, underscoring that investors are betting on further consolidation of Europe’s fragmented telecom market. Mr. Paulson’s investment firm, Paulson & Co., held a 4.54% stake in the Dutch company as of Monday, according to a regulatory filing published Thursday by Dutch financial-markets regulator AFM. It was the hedge fund’s first notification as a KPN shareholder.

Fink vs Icahn: Who’s right on corporate cash? (CNBC)
BlackRock, Inc. (NYSE:BLK) Chief Larry Fink thinks companies should focus more on long-term results instead of boosting dividends or buying back stock to appease short-term interests, such as those demanded by activist investors. Billionaire corporate agitator Carl Icahn thinks too many businesses are run by incompetents who waste shareholder money and need to focus on short-term improvements. Who’s right? “Both” is the short—if obvious—answer from observers. Corporate chief executive officers generally side with Fink on expanding a business for the long term.

Palladyne Accused in Suit of Laundering Money for Qaddafi (Bloomberg)
Dutch hedge fund Palladyne International Asset Management BV was sued in the U.S. for as much as $500 million by a former executive who claims the company helped Libya’s Qaddafi regime launder money in exchange for kickbacks. The Amsterdam-based firm’s main purpose was the “laundering and concealment of funds illicitly siphoned” from the regime of Muammar Qaddafi, who was deposed and killed in a 2011 revolution, Dan Friedman, the former employee, said in a complaint filed in U.S. District Court in New Haven, Connecticut, on March 25. The firm denied the claims.

Not What You’d Expect: David Einhorn’s Focus on Empathy (InsidePhilanthropy)
David Einhorn is one of those Wall St. philanthropists who may fly below most people’s radar, but the Greenlight Capital founder, worth $1.2 billion, is a significant giver with an interesting, and perhaps slightly unusual philanthropic mission—“to inspire a movement of empathetic citizens who, with mutual respect and understanding, ultimately build an increasingly civil society.” We love this goal, especially coming from a hedge fund guy who hasn’t shied away from filing lawsuits to get his way, who famously beat up on Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) after shorting its stock, and who called on Steve Ballmer to resign in 2011. There’s even a term for what happens to companies after Einhorn shorts them and starts his bad-mouthing: they get “Einhorned.”

Rough year for macro funds (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 Click to see monthly returns in table format!

Lists

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How 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

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!