Sony’s Kazuo Hirai Says Third Point Campaign Was ‘a Good Thing’ (WSJ)
Hedge-fund investor Dan Loeb‘s campaign to persuade Sony Corporation (ADR) (NYSE:SNE) -0.28% to spin off part of its entertainment business was beneficial for the company, Chief Executive Kazuo Hirai said, making one of his first public comments since rejecting the proposal. Sony Corporation (ADR) (NYSE:SNE) is better off holding on to all of its movie and music businesses, Mr. Hirai said, but he agreed with a few of the billionaire investor’s other points. Mr. Loeb’s Third Point LLC wanted to take up to 20% of Sony Corporation (ADR) (NYSE:SNE)’s entertainment arm public.
Mortgage insurance stocks look more appetizing (HousingWire)
Hedge fund investors are betting on the mortgage insurance business, estimating that it will be a good investment for the foreseeable future, The Wall Street Journal reports. The turnaround has fueled a strong rally in the stocks of MGIC Investment Corp. (NYSE:MTG) and Radian Group Inc (NYSE:RDN). The shares are up 189% and 133%, respectively, this year. Bulls include Paulson, the hedge fund that prospered on a well-timed bearish bet on the housing market in the early stages of the financial crisis…
Hedge Fund Survey Demonstrates Critical Value of Research Management Solutions (Investors)
Advent Software, Inc. (NASDAQ:ADVS), a leading provider of software and services for the global investment management industry, today announced the results of a survey on how investors select hedge funds titled, ‘Pitch Perfect, How Investors Choose Funds.’ The comprehensive survey was designed to determine not only what investors look for when making new hedge fund investments, but also the potential stumbling blocks fund managers should take pains to avoid when making their pitch.
How the Winklevoss twins disrupted a big NYC hedgie event and distracted from the poor job most hedge funds are doing for clients (RiaBiz)
Here’s the thing about hedge fund managers: It’s all about the money — making it and preserving it. That mission differs from financial advisors who, in addition to making money for their clients, serve as human lightning rods that absorb the emotional and spiritual dislocation associated with having and keeping wealth. Since hedge fund managers have one thing to do and charge dearly for it — at 2% of assets and 20% of gains, more than any other financial advisor or asset manager — you’d think that they would be excellent at making money for clients.
U.S. Dominates Hedge Fund Industry (Finalternatives)
U.S.-based hedge funds have bounced back from the financial crisis better than those in other regions and account for 73% of total hedge fund industry assets, according to new research from data provider Preqin. U.S. funds have added $150 billion to their assets under management year to date, thanks in large part to performance, although Preqin points to some “significant” commitments to U.S.-based funds this year. By way of comparison, Europe-based hedge funds have added $33 billion to their AUM year-to-date.