Why Buffett is betting on energy stocks again (Yahoo)
Warren Buffett has been a big believer in and buyer of U.S. energy-indirectly. When it comes to direct investments in energy stocks, though, Buffett-famous for using an elephant-gun analogy to describe his hunt for acquisitions-has been notably gun-shy. Some recent bets on big oil and gas stocks suggest that Buffett and his stock-picking lieutenants-former hedge fund managers Todd Combs and Ted Weschler-are open to a wider range of direct energy stock investments. …Even as the U.S. underwent the first decade of a transformative shale boom, Buffett didn’t step up to buy any U.S. exploration or production or oil service companies for Berkshire Hathaway Inc. (NYSE:BRK.A)‘s portfolio of public stocks…
Pippa Middleton’s boyfriend quits City job for Swiss hedge fund (Independent)
Pippa Middleton’s stockbroker boyfriend has quit his lucrative job in the City of London to work for a hedge fund in Switzerland. Nico Jackson, who has been dating the Duchess of Cambridge’s younger sister for nearly two years, is heading to Geneva to take up a new challenge. The move comes amid growing speculation that he and Miss Middleton are about to get engaged. City insiders say Mr Jackson, 35, is leaving his role at Deutsche Bank AG (USA) (NYSE:DB) next month to join Jabre Capital as an investment manager in Geneva. The $2 billion (£1.6 billion) hedge fund was set up by Beirut-born businessman Philippe Jabre.
Boaz Weinstein Is Having Another Losing Year (BusinessInsider)
Saba Capital, the hedge fund run by legendary credit trader Boaz Weinstein, is on track for another down year so far. The fund is down 2.9% through the end of June, Bloomberg News reports citing an investor letter. According to the report, Saba’s assets under management have fallen to $US2.6 billion due to redemptions. At one time, Weinstein managed $US5.5 billion. Before founding Saba in 2009, Weinstein was the co-head of credit trading at Deutsche Bank. In 2011, he made headlines for being the trader who took the other side of JPMorgan Chase & Co (NYSE:JPM)’s disastrous “London Whale” trade.
TLC Capital Group Readies Summer Hedge Fund Launch (HedgeCo)
Atlanta-based TLC Capital Group LLC is preparing the launch of a new option-hedged market neutral fund, the Salvus Hedged Yield Fund LP. “The fund is designed for the preservation of capital and will offer investors the advantage of a defined market risk and a target high single digit ROR*.” CIO William J. Taylor said, “By investing exclusively in large- and mid-cap listed equities and hedging with corresponding listed options, the fund will offer unparalleled liquidity and transparency. We feel the fund will appeal to both institutional and individual investors alike, and should be a core holding for both.”
Ex-Elliott Asia Managers To Launch $100M Special Situations Fund (Finalternatives)
A pair of Elliott Management veterans will seek US$100 million for a new Asia-focused special-situations hedge fund. Ark Pacific Capital Management will invest in private convertible bond issues and pre-initial public offering companies, as well as make direct loans, Bloomberg News reports. Firm founders Kenneth Ng and Arthur Lau plan to tap opportunities too small for Elliott and to offer their clients co-investment opportunities. The Hong Kong-based firm will focus on Greater China initially, although it will also look at South Korea and Southeast Asia.