Hedge Fund News: Carl Icahn, John Burbank, AT&T Inc. (T)

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Editor’s Note: Related Tickers: Microsoft Corporation (NASDAQ:MSFT), SanDisk Corporation (NASDAQ:SNDK), Google Inc (NASDAQ:GOOG), UTStarcom Holdings Corp (NASDAQ:UTSI), AT&T Inc. (NYSE:T), Merck & Co., Inc. (NYSE:MRK), Verizon Communications Inc. (NYSE:VZ), CVR Energy, Inc. (NYSE:CVI), Netflix, Inc. (NASDAQ:NFLX), Icahn Enterprises LP (NASDAQ:IEP)

CVR Energy, Inc. (CVI), Netflix, Inc. (NFLX): Investing In Icahn’s Stock Picks, Best Way To Make Bank (Insider Monkey)
ICAHN CAPITAL Carl IcahnBillionaire Carl Icahn is best known for his activism within the investment industry. Just like Warren Buffett, Icahn’s opinions or investments decision are always in the news. According to Forbes, Icahn gained almost $2 billion from his stock investments. His performance is a clear demonstration that following his stock picks will be rewarding. Icahn described his strategy as Graham & Dodd investing with a kick. He generally invests in undervalued or mismanaged and pushes for changes to realize its appropriate shareholders value. Ken Squire, founder of 13D Monitor and 13D Activist Fund described Icahn as “incredibly smart” and his “ability to value a company is second to none.” The best way to make money with Icahn is to invest in his favorite stock because it has a great management. Of course, the company is none other than Icahn Enterprises LP (NASDAQ:IEP).

Hedge Fund Manager Boosts Bid For Basketball Team (FINalternatives)
Hedge fund manager Chris Hansen has increased his offer for the Sacramento Kings, just days before National Basketball Association owners meet to decide the team’s fate. Hansen, who runs San Francisco-based Valiant Capital Management, and Microsoft Corporation (NASDAQ:MSFT) Chairman Steve Ballmer have added $17 million to their bid for 65% of the team, which they hope to move to Seattle. That would value the team at $550 million, up from $525 million, an NBA record.

$13 Billion Hedge Fund Edinburgh Partners’ Top Stock Picks (Seeking Alpha)
The largest position reported in the 13F of Hedge Fund Edinburgh Partners was 4.1 million shares of SanDisk Corporation (NASDAQ:SNDK), though this represents a small sale of shares since the beginning of January. In its last quarterly report SanDisk experienced a 2% decline in revenue compared to the fourth quarter of 2011, and earnings decreased by 24%. Combined with good stock performance over the last year, this has brought SanDisk to a valuation of 34 times trailing earnings. Edinburgh disclosed ownership of about 270,000 shares of Google Inc (NASDAQ:GOOG) as of the end of March. In the fourth quarter Google had been one of the most popular stocks among hedge funds and we’re looking forward to finding out where it stood last quarter.

Hedge fund manager is bullish on Midland (Star-Telegram.com)
When clients in Midland complained that they couldn’t find office space, hotel rooms or banquet halls, hedge fund co-founder Joseph Jacobs saw a big opportunity. It turned out to be 53 stories, potentially the tallest office building between Los Angeles and Dallas, and almost twice the height of anything in the onetime hometown of former Presidents George H.W. Bush and his son George W. Bush. Jacobs, the president of Wexford Capital, with $5 billion in assets, views the $350 million Energy Tower office-hotel-condominium project as the centerpiece of the Permian Basin, the source of almost 60 percent of Texas’ oil last year.

Dan Loeb Simultaneously Solicits, Betrays Pension Funds (RollingStone.com)
But here’s the catch. Dan Loeb, who isn’t known as the biggest hedge-fund asshole still working on Wall Street (only because Stevie Cohen hasn’t been arrested yet), is on the board and co-founder of a group called Students First New York. And Students First has been one of the leading advocates pushing for states to abandon defined benefit plans – packages which guarantee certain retirement benefits for public workers like teachers – in favor of defined contribution plans, where the benefits are not guaranteed. In other words, Loeb has been soliciting the retirement money of…

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