Hedge Fund News: Ray Dalio, Sony Corporation (ADR) (SNE), JPMorgan Chase & Co. (JPM)

Page 1 of 2

Editor’s Note: Related tickers: Sony Corporation (ADR) (NYSE:SNE), JPMorgan Chase & Co. (NYSE:JPM), Smithfield Foods, Inc. (NYSE:SFD), salesforce.com, inc. (NYSE:CRM), Chevron Corporation (NYSE:CVX), Petroleo Brasileiro Petrobras SA (NYSE:PBR), Facebook Inc (NASDAQ:FB), Goldman Sachs Group, Inc. (NYSE:GS)

BRIDGEWATER ASSOCIATESRay Dalio’s Awesome New Mega Campus Is Being Stalled By Small-Town Bureaucracy (BusinessInsider)
A classic case of city bureaucracy may stymie Bridgewater Associates’ plan to relocate to a new $750 million headquarters in Stamford, Connecticut. The world’s largest hedge fund is planning a move from its Westport home to an 850,000-square-foot center on a 14-acre peninsula in Stamford. But the Stamford Advocate reports a zoning disagreement over a boatyard between the city and BLT, a local land developer, has hindered negotiations. …The hold up has sparked conjecture that Bridgewater head Ray Dalio may scrap the plan entirely and stay in Westport, and Stamford may lose out on as many as 2,000 jobs, $16 million in tax revenue, and $50 million in state funding.

Dan Loeb’s hedge fund Third Point ups Sony stake (Standard)
Billionaire investor Dan Loeb has increased pressure on Sony Corporation (ADR) (NYSE:SNE)’s board by lifting his stake in the electronics group to 7%. The boss of $13 billion (£8.3 billion) hedge fund Third Point believes Sony Corporation (ADR) (NYSE:SNE) should spin off its entertainment unit, which includes one of Hollywood’s leading studios. In a letter to chief executive Kazuo Hirai ahead of the group’s annual meeting on Thursday, Third Point said: “Sony Corporation (ADR) (NYSE:SNE) appears to be regaining its competitive edge. Given our large stake, we reiterate our offer to serve on Sony Corporation (ADR) (NYSE:SNE)’s board of directors.

JPMorgan Plans Private-Equity Spin-Off (Finalternatives)
JPMorgan Chase & Co. (NYSE:JPM) will spin off its internal private-equity unit, which manages some $4.5 billion of the bank’s capital. One Equity Partners, which until now has managed JPMorgan Chase & Co. (NYSE:JPM)’s money exclusively, will raise a new fund entirely from outside investors and will separate from the bank. One Equity will continue to manage the roughly 30 investments it currently has for JPMorgan Chase & Co. (NYSE:JPM). The bank is shedding the unit due to recent uneven returns and a desire to focus on its core businesses. The spin-off has nothing to do with the Volcker Rule, which severely restricts banks’ hedge fund and private-equity activities; because One Equity manages only JPMorgan Chase & Co. (NYSE:JPM)’s money, it could hold on to the unit under merchant-banking regulations.

Japan will deliver value under Abenomics, says Martin Currie (Risk)
As the G-8 summit in Northern Ireland began with a focus on Syria, the elephant in the room remains the impact of Abenomics, the ambitious stimulus programme initiated by Japanese prime minister Shinzo Abe. There is no sign hedge funds are deserting the ‘Abe trade’. One hedge fund manager, John-Paul Temperley, investment director, Japan, at Martin Currie Investment Management, remains upbeat on the prospect of the country. “We had actually been positive prior to [the introduction of Abenomics] mainly for a more cyclical reason, with an earnings recovery driven by a positive financial sector cycle taking hold,” says Temperley.

Hedge fund says bid for Smithfield too low (USAToday)
The proposed sale of Smithfield Foods, Inc. (NYSE:SFD) to China’s largest meat processor was muddied Monday after a hedge fund suggested investors could get a much better price. New York-based investment firm Starboard Value, which owns about 5.7% of Smithfield Foods, Inc. (NYSE:SFD)’s common stock, says Shuanghui International Holdings’ offer of $34 a share could be topped by up to 62%. Starboard suggests Smithfield Foods, Inc. (NYSE:SFD) could be worth between $44 and $55 a share if the company were to carve itself into pieces and sell off the units.

Hedge fund manager James Shepherd pleads guilty to commodity pool fraud (Opalesque)
North Carolina hedge fund manager James Alexander Shepherd pleaded guilty to defrauding investors of at least $6m after admitting to using a personal post office box and bogus bank statements to hide his criminal activities for nearly seven years, prosecutors said in a statement. Anne M Tompkins, United States Attorney for the Western District of North Carolina said that the 58-year-old Shepherd admitted to one count of securities fraud. Court documents showed that from 2006 through 2013, Shepherd defrauded over 100 investors in Union County and elsewhere of approximately $6m.

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

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!