Hedge Fund News: Wilbur Ross, Bill Ackman & George Soros

Page 1 of 2

Wall Street Plays 2016 Dating Game as Christie Stumbles (BusinessWeek)
Billionaire Wilbur Ross invited Paul Ryan over for lunch. Goldman Sachs Group, Inc. (NYSE:GS) and Wells Fargo & Co (NYSE:WFC) bankers met with Rand Paul at a fundraiser in Atlanta. Investor Rob Arnott dropped in on Ted Cruz. Wall Street Republicans have begun their White House dance less than halfway into a second Barack Obama term they tried to prevent with record donations to Mitt Romney. As investigations slow Chris Christie, whose backers have included a troop of billionaires, donors are looking for a candidate who can replace the constraints they detest with appreciation they think is due.

INVESCO PRIVATE CAPITAL Wilbur Ross

Battered SAC Capital morphs into Point72 (HereIsTheCity)
Run by billionaire investor Steven A. Cohen and christened with his initials, SAC made the announcement in a letter to employees, which will become effective next month. Last November, SAC paid $1.2 billion in a settlement with regulators over securities fraud charges. “In the aftermath of our settlement with the government, Steve and senior management considered whether our path forward as a family office would be simpler if we operated with new legal entities and new names,” the firm said. “We concluded it would.”

Wall Street still hearts Obama (CNBC)
President Barack Obama’s approval rating may have hit a new low, but he still attracted big-money Democrats at a Manhattan fundraiser to benefit his political party. The Blackstone Group L.P. (NYSE:BX) President and Chief Operating Officer Hamilton “Tony” James hosted Obama on Tuesday night at his Fifth Avenue home for the Democratic Senatorial Campaign Committee. The event cost $32,400 to attend, and wealthy investors were featured prominently. …Representatives for the attendees did not respond to requests for comment or declined.

Ex-Goldman VP Tourre Ordered to Pay More than $825K in SEC Case (FoxBusiness)
A federal judge ordered former Goldman Sachs (GS) bond salesman Fabrice Tourre to forfeit a $175,000 bonus and pay a $650,000 fine for misleading investors in the run up to the 2008 financial crisis. A jury in August found Tourre guilty of defrauding investors in one of the few cases in which a Wall Street executive faced a trial in connection with actions regulators said contributed to the economic meltdown. Tourre was charged by the Securities and Exchange Commission with lying to investors while marketing a complicated investment product called a collateralized debt obligation filled with shaky mortgage loans that Tourre knew would likely plunge in value.

Bill Ackman Isn’t Giving Up On Herbalife (Benzinga)
When so many others would have cut their losses and ran, Bill Ackman is not only continuing to hold his short position in Herbalife Ltd. (NYSE:HLF), he continues to dig for new headlines to keep the story fresh in the minds of investors, regulators and the media. Tuesday, Ackman held a conference call where nearly 300 listeners heard him say that Herbalife is violating Chinese anti-pyramid scheme laws. His hedge fund, Pershing Square Capital, hired research firm OTG to collect evidence through interviews with Herbalife distributors in China.

Hedge fund directors lack credibility, says survey (Risk)
Of those polled, 73% of investors say they do not think directors are “useful”. However, the survey points out that there is a lack of understanding of the role of directors. “Competent fund directors can actually add value to the overall governance of a hedge fund,” says Jason Scharfman, managing partner of Corgentum Consulting, which carried out the survey. “Many investors simply view these directors as an extension of the fund itself,” he adds. Over half (62%) of the group surveyed feel directors do not have much credibility with fund managers and do not provide independent oversight, according to Scharfman.

‘Exuberance’ seen in the private equity market: Pro (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

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

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

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!