New SEC Regulation Affects More Hedge Funds Than Expected (FierceFinance)
When the new SEC registration rules came out, it seemed pretty clear how funds would be affected: Funds with more than $150 million in assets would be required to register. Any fund with lesser amount would be regulated by states or not at all or have some discretion. But there’s an interesting twist as funds gear up to comply. The SEC now says that compliance will be determined by the level of gross assets, which includes leverage.
ISAM Attracts Pension Cash (Reuters)
Biglari and Cracker Barrel (FrankVoisin)
On June 13th of this year, a form SC-13D was filed with the SEC announcing that successful value investor Sardar Biglari had bought 9.7% of Cracker Barrel Old Country Store, Inc (NASDAQ: CBRL), making his fund the company’s largest shareholder (note, included in the original 9.7% calculation were put options Biglari wrote, which subsequently expired, making his current ownership ~9.3%) . Two months passed before more details were made public. On August 23rd, Biglari filed an amended SC-13D including an exhibit containing a letter to the CEO of CBRL.
Canada Hedge Funds (TheGlobeAndMail)
What are we looking for? The biggest losers among Canadian hedge funds this year. Given that managers of these funds have many tools to fend off volatile stock markets, let’s see what strategies have suffered most. The screen. We ranked the 15 worst returns for the first nine months of 2011 in the alternative strategies category. U.S. dollar, and duplicate versions of the funds were excluded.
Jim Chanos is Still Bearish Despite the Huge Rally (Bloomberg)
Jim Chanos, the hedge-fund manager who’s been betting that Chinese bank stocks will tumble, said a rally spurred by government purchases of the shares hasn’t changed his bearish outlook.
Occupy Wall St. Target Paulson Home (HedgeFund.net)
John Paulson, Occupy Wall Street is coming to your neighborhood. That’s what the movement announced would take place Tuesday afternoon, as the superstar hedge fund manager’s $14.7 million home on New York City’s Upper East Side is one stop on what has been dubbed a “Millionaire’s March.”
Columbia University’s Groundbreaking Research (DailyMail)
It is hardly surprising to find that women do not mind overweight men as long as they wallets are bulging as well as their waistlines. But now a study has found a formula for how much more money a man needs to earn for each extra pound he puts on if he wants to keep wooing the same kind of women.