Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Lose Big on Alcoa $AA

Several hedge funds lost big this morning after aluminium producer Alcoa Inc (AA) announced its initial profit estimate of 22 cents a share was incorrect. It had only earned 15 cents a share. According to TheStreet, Alcoa’s “sales of $6.42 billion, however, exceeded projections for revenue of $6.22 billion.” Unfortunately, the news was not enough to buoy the stock. It closed yesterday at $10.30 a share to open Wednesday at $9.93 a share. By 10am, the loss had deepened, bring to share price to $9.82 and falling.

best gold ETF

Of the funds we track, these lost the most:

1.Paulson & Co – John Paulson: Lost $81.5 million

2. Meru Capital – Guru Ramakrishnan: Lost $3.6 million

3. Levin Capital Strategies – John A. Levin: Lost $2.3 million

4. Elm Ridge Capital – Ron Gutfleish: Lost $2 million

5. Bridgewater Associates – Ray Dalio: Lost $874,000

6. Carlson Capital – Clint Carlson: Lost $691,000

7. Adage Capital Management – Phill Gross And Robert Atchinson: Lost $680,000

8. Caxton Associates Lp – Bruce Kovner: Lost $461,000

9. D E Shaw – D. E. Shaw: Lost $454,000

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in AA since the end of June. We did not take into account their option positions.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!