Ken Griffin’s Latest Trade, Passport Capital’s Bullish Oil Comments

Citadel in Big E*Trade Sale, Hits Broker’s Stock (Reuters)
E*Trade Corp’s largest stakeholder, hedge fund Citadel, is moving to sell nearly 24 million shares in the U.S. online brokerage, sending E*Trade shares down 5.9 percent on Thursday. A Citadel Investment Group affiliate launched an underwritten offering, set to close March 1, that would reduce the Chicago-based fund’s stake to about 18 percent of E*Trade, from about 27 percent currently, according to a regulatory filing late on Wednesday.

CITADEL INVESTMENT GROUP

Passport Capital Was Bullish About Oil Before the Jump (WSJ)
“Half of (world) demand comes from emerging markets and is still growing, and the supply of oil is fairly inelastic,” said Walther Lovato, a co-portfolio manager for Passport’s energy strategy. The demand inelasticity has been reflected in the price. Brent crude started the year with a bang and has scaled a fresh two-year high of $103.37 a barrel earlier this month amid political tensions in the Middle East. And that came on the heels of a 15.2% surge in 2010. Passport, a $4.1 billion hedge-fund manager founded by John Burbank in 2000, has had solid gains from its energy strategy fund in the last two years. It posted net gains of 42% last year, after a 52% surge in 2009, according to an investor letter. Passport employs a team of six—two portfolio managers, an analyst, a mechanical engineer, a Ph.D. in materials science and a strategy consultant on power—to conduct its own studies on oil companies as well as their reserves ahead of investing in energy equities.

U.S. Hedge Fund Taconic Takes $250m BskyB Stake (Reuters)
Taconic Capital Advisors, the $7 billion-plus New York hedge fund, has taken a significant stake in Rupert Murdoch’s buyout target, British Sky Broadcasting Group Plc (BSY.L), regulatory filings this week show.

Aegon to Sell Shares to Repay State Aid After Net Income Beats Estimates (Bloomberg)
Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., fell the most in nine months in Amsterdam trading after announcing plans to sell shares to repay 750 million euros ($1 billion) of state aid. It will sell 173.6 million shares, or 10 percent of the current total, to institutional investors, the Hague-based insurer said in a statement today. The mean estimate of five analysts surveyed by Bloomberg News was for Aegon to raise 645 million euros.

New Asian Funds Attract Almost $4B In 2010 (FinAlternatives)
“Despite a slightly lackluster second half, new Asian hedge fund launches continued to see a sustained interest, though rising barriers to entry meant that most of the capital went to either second-generation managers with a strong pedigree or new offerings from established hedge fund shops,” says Aradhna Dayal, editor of AsiaHedge in Hong Kong.

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 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

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!