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

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

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

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!