Hedge Fund News: Robert Citrone, Paul Singer & Carl Icahn

Page 1 of 2

Citrone’s Funds Take March Beating (Finalternatives)
Hedge fund billionaire Robert Citrone was probably glad to turn the calendar page after a brutal March for his flagship funds. Citrone’s Discovery Global Opportunities Fund was down 7.46% in Q1 and his Discovery Global Macro Fund down 9.17% after each fell some 10% in March, according to Forbes. It’s a sharp reversal for Citrone, who was one of the few hedge fund managers to give the S&P 500 a run for its money in 2013, returning about 27%.

Discovery Capital Management

Fortress to Tudor Lose in First Quarter as Macro Misfires (Bloomberg)
Paul Tudor Jones, Michael Novogratz and Louis Bacon, hedge-fund managers that profited last year from bets on macroeconomic trends, posted losses in the first quarter as some of those trades turned against them. Markets gyrated in the first three months of the year as investors fled developing countries in anticipation of further reduction in U.S. monetary stimulus, Russian President Vladimir Putin annexed Ukraine’s Crimea region and Japanese stocks tumbled. The losses for macro managers have caused them to cut some of their bigger bets, Anthony Lawler, a money manager at the $120 billion Swiss firm GAM, wrote in a report last week, though their views — including that Japanese stocks will rise and the U.S. dollar will gain — could make money later in 2014, he said.

Why Your Average Investor Is Crushing Big Hedge Funds These Days (Businessinsider)
Everyone’s talking about the stock market’s “internal correction“: investors have been dumping high-beta, momentum stocks for low-beta, value names. Facebook Inc (NASDAQ:FB) is among the stocks that are down more than 20% during the period. Investors who are broadly diversified aren’t doing too terribly. The S&P 500 is just 1.6% from its all-time high of 1,897. But the Nasdaq has tumbled by more than 5%. According to Goldman Sachs Group, Inc. (NYSE:GS)’ David Kostin, the big hedge funds are among the investors exposed to these losers.

Economist Who Once Advised Obama Now Consults With Hedgies (Finalternatives)
A former top economist for U.S. President Barack Obama is now offering his take on market developments with hedge fund managers and other financial market players. Austan Goolsbee, through a contract with New York City-based consultancy 32 Advisors, has chatted most Fridays since February 2013 with employees of large hedge fund firms Fortress Investment Group, York Capital Management, Perella Weinberg Partners, SkyBridge Capital and others. Firms who pay to join the 45-90 minute conference calls get to hear Goolsbee opine on issues such as the rise of bitcoin and the controversy surrounding high-frequency trading.

Only 4% of hedge fund managers say to have registered to market under JOBS Act (Opalesque)
Preqin’s recent survey of more than 150 private equity and hedge fund managers reveals that these firms have been slow to take advantage of the marketing opportunities presented by the JOBS Act, which allows them to advertise and perform general solicitations to showcase their funds to a larger number of potential investors. Only 4% of hedge fund managers and 5% of private equity managers surveyed said they have registered to market under the JOBS Act. Many alternative asset managers believe that the audience they target – for many firms, large accredited institutional investors – is better reached through traditional methods of connecting and building relationships rather than through mass marketing.

Lone Star Value hedge fund plans to take its objection over Hilltop’s $7.88-a-share buyout of SWS Group directly to shareholders (Dallasnews)
Activist hedge fund investor Lone Star Value Management is vigorously objecting to Dallas-based Hilltop Holdings’ $7.88-per-share buyout of the parent of Southwest Securities Inc. and Southwest Securities FSB of Dallas. In a letter to SWS Group’s board of director, Connecticut-based Lone Star Value founder and CEO Jeffrey E. Eberwein is accusing the board of “failing to run a proper auction process.” “It is clear that the Board has not fulfilled its fiduciary duty and has failed, for the second time in three years, to obtain maximum value for the long-suffering shareholders of SWS,” Eberwein added.

Is it time to look to hedge funds as the market stumbles? (TrustNet)
Now could be a good time to buy into listed hedge funds as the UK equity market starts to stumble, according to Monica Tepes, investment trust analyst at Cantor Fitzgerald, who notes they have the ability to do well in sideways or downwards markets. Hedge fund BH Global is simplifying its fee structure which in effect amounts to a fee cut and brings the sector back into the limelight. Tepes says that following a few years of boring performance this could be a good time to buy into the sector as developed world markets look frothy – particularly given the discounts that have opened up.

Who the biggest hedgies are holding (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

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

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

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

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!