Hedge Fund News: Warrant Buffett, Louis Bacon & Greenlight Capital

Chicago-Based Hedge Fund Manager Caught Conducting A Ponzi Scheme (HedgeCo)
Chicago-based investment fund manager Neal V. Goyal and two hedge fund advisers that he owned and controlled –Blue Horizon Asset Management and Caldera Advisors – are being charged with violating the antifraud provisions of the Securities Act of 1933, Securities Exchange Act of 1934 and Rule 10b-5, and Investment Advisers Act of 1940. The SEC is seeking financial penalties, disgorgement of ill-gotten gains plus prejudgment interest, and a permanent injunction against Goyal, Blue Horizon Asset Management, and Caldera Advisors.

‘CLEAN ENERGY’ RUINED SPAIN; NOW OBAMA IS DRAGGING THE US OVER THE SAME GREEN PRECIPICE (Breitbart)
Mead was quite right, of course. And there was plenty of evidence to back him up, such as the 2009 report by a Madrid university professor Gabriel Calzada Alvarez that for every expensive “green job” created by government subsidy, 2.2 jobs were destroyed in the real economy. The Obama administration responded as only the Obama administration knows how: by calling in its left-wing attack dogs. Friendly organisations including George Soros’s Center for American Progress and various well-funded wind industry lobbyists were recruited to monster this unhelpful evidence, which was dismissed for its “lack of rigor.”

Funds Cut Bullish Gold Wagers Most This Year (Bloomberg)
Hedge funds pared bets on a gold rally at the fastest pace this year after prices capped the biggest monthly decline since December. Money managers trimmed their net-long position by 24 percent as a rally in U.S. equities to a record eroded the appeal of alternative assets. Short holdings are now the highest in 15 weeks and assets in exchange-traded products backed by metal the lowest since 2009. The value of ETP holdings contracted $2.6 billion in May, the worst month since the end of 2013, the year that marked the end of the bull market in gold. The Standard & Poor’s Total Return Index of 24 commodities fell for the first time since January, led by crops, natural gas and precious metals.

Hedge fund giants secure grip on industry despite lagging returns (Reuters)
The world’s biggest hedge funds are managing more money than ever before – even while the returns they provide look less attractive compared to those achieved by younger, smaller firms. Large institutions managing money for wealthy individuals have always tended to look towards well-established money managers but this trend has become more pronounced following the financial crisis. According to data from industry tracker Preqin some 90 percent of assets are now held by just 505 funds worth at least $1 billion.

David Einhorn’s Greenlight Posts Gains in May (InstitutionalInvestorsAlpha)
David Einhorn’s Greenlight Capital continues its winning streak from last month. The New York–based equity hedge fund firm posted gains of 1.8 percent and 1.9 percent on its various hedge funds in May. Its Greenlight Capital Offshore fund has returned 4.6 percent through May, while Greenlight Capital Qualified has added 5 percent and Greenlight Capital has gained 5.1 percent. By comparison, the S&P 500 gained 2.1 percent in May and is now up 4.1 percent for the year. The Dow Jones Industrial Average added 0.8 percent in May and is up the same amount for the year, while the Nasdaq Composite returned to positive territory in May,…

Did Argentina lie to the U.S. Supreme Court? (Reuters)
I may have been too quick to believe that Argentina actually intended to follow through on a pledge to the U.S. Supreme Court. Last Friday, I credited the Argentine government with an historic concession in its May 27 brief to the court, in which Argentina pledged to comply with an injunction from the 2nd U.S. Circuit Court of Appeals prohibiting it from making payments to holders of its restructured debt before paying off hedge funds that refused to exchange defaulted bonds.

Recommended Reading:

Huber Capital Management Top Picks Include CNO Financial Group Inc (CNO) & ENSCO PLC (ESV)

Millennium Management’s Subsidiary Blue Arrow Capital Loves These Stocks

Tim Curro’s Value Holdings Bets on Services Sector

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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

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!