Jim Cramer Says Celgene is Better Than Pfizer (InsiderMonkey)
Jim Cramer is the host of the popular “Mad Money” show on CNBC. He is famous for making big bold calls, liking momentum stocks and preferring dividend yielding stocks. On his show November 16, Cramer discussed the importance of looking beyond company metrics, using Celgene (CELG) as an example. CELG is a fast growing biotech company. Cramer used the company as an example to illustrate the importance of paying attention to a company’s metrics as well as its future prospects. Cramer compared CELG to Pfizer (PFE). 
He explained that PFE is selling at 8.6 times next year’s earnings while CELG is selling for 14.5 times its earnings, so PFE appears cheaper, but Cramer says you have to look deeper. In this case, PFE has a 4% dividend yield but lacks growth. “That’s why when we’re playing in pharmaceuticals, I’d prefer to go with a fast growing biotech firm like Celgene,” Cramer said.
Bruce Berkowitz Releases “Fairholme Stays the Course” Report (InsiderMonkey)
Bruce Berkowitz’s Fairholme Fund recently released a document entitled, “Fairholme Stays the Course.” The document, which has a tag line that reads, “Ignore the crowd,” goes into detail describing the Fairholme Fund’s investment philosophy and explains the reasoning behind some of its unpopular investments, particularly its investment in Bank of America (BAC), which is used as an example in the document. It goes on to detail the Fairholme Fund’s performance in comparison to the S&P 500, its investment thesis and provide a case study as to why it likes Bank of America.
State Street Vet Bill Hunt Joins Multifonds Board (FINAlternatives)
BTIG Adds 4 Equity Traders (FINAlternatives)
BTIG, broker-dealer to the alternative assets industry, has expanded its equity trading business with four new hires. The financial services firm has added Francis Heine, Christopher Sula, Phil Dauber and Joseph Fragala to its staff. Heine joins BTIG as managing director and international equities sales trader, working out of the company’s Red Bank, New Jersey office. A Wall Street veteran, Heine spent 27 at Morgan Stanley, the last 22 years, as a sales trader covering global institutions for North and South American equities.
GlobeOp: Hedge Fund Redemptions Rise In November (FINAlternatives)
Newport Beach Women-Owned Fund of Hedge Funds and Business Leader Participates in White House Forum on Jobs and American Economic Competitiveness (SacramentoBee)
Kimberly Mounts, Managing Partner of MAP Alternative Asset Management Company, a women-owned Fixed Income Fund of Hedge Funds, was one of 120 business leaders who participated in a White House Business Leaders’ Forum recently in Washington, DC. The forum brought together CEO’s, senior executives, investors, venture capitalists and small business owners for a chance to share data, ask questions and raise concerns over how to create jobs and improve America’s economic competitiveness.
Winton Gets 10% of All New Money as Investors Flock to Biggest Hedge Funds (Bloomberg)
Winton Capital Management LLC, the London-based firm founded by David Harding, collected more than a 10th of the cash flowing into hedge funds this year as a handful of managers dominated money-raising. Winton, with $26 billion in assets, pulled in a net $7.3 billion through Oct. 31, according to two investors, who asked not to be identified because the firm is private. In all, eight funds, including Millennium Management LLC and Capula Investment Management LLP, have attracted a third of the new money this year, according to investors in the funds.
