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Hedge Fund News: John Arnold’s $10M Donation, Paul Singer & Advertising

Hedge Funds Advertising – Larry Zimpleman says hedge fund advertising could open up investment options, Hedge fund advertising, good or bad? (Opalesque)
Is the lifting of the ban on hedge-fund advertising good or bad for investors? Larry Zimpleman: It will be interesting to see how the lifting of the ban on hedge-fund advertising may cause other changes in the traditional hedge-fund industry. Historically, hedge funds have restricted their activity to institutional investors and to individuals who have substantial net worth–thus, not a lot of need for general retail advertising.

SEC’s Case Against Petters Feeder Fund Heads For Jury (Law360)
A Minnesota federal judge on Tuesday declined cross-bids for judgment in the U.S. Securities and Exchange Commission’s action against a hedge fund owner who allegedly funneled hundreds of millions into Thomas Petters’ $3.5 billion Ponzi scheme, saying it’s up to a jury to sort out the facts. U.S. District Judge Ann D. Montgomery refused to back the SEC’s contention that marketing and offering materials given to investors who bought interests in Marlon Quan’s various hedge funds and descriptions of lockbox accounts were fraudulent, finding there were…

Anglo American plc : Hedge fund Elliott blocked in bid for Anglo Irish info (4-Traders)
A tenacious U.S. hedge fund and an Irish property developer were blocked on Tuesday by a U.S. federal judge from digging into the secretive communications that led to Ireland’s decision to liquidate former Anglo Irish Bank. Elliot Management, billionaire Paul Singer’s hedge fund, and John Flynn failed to convince a U.S. Bankruptcy Court judge to allow them to demand a broad range of information that they said could prove the bank was solvent when put into liquidation.

Hey Banksy: Hedge Fund Manager Wants To Collaborate To Help Sandy Victims (HedgeCo)
Former managing Director at Deutsche Bank AG (USA) (NYSE:DB) and CEO of hedge fund Saiers Capital (formerly Alphabet Management), has offered street artist Banksy $100,000 to donate to a charity of his choice. “The rumor is that you are in New York City for the month of October.” Nelson Saiers said in an open letter to the artist, “As we approach the one year anniversary of Hurricane Sandy, there remain a number of victims who are still severely impacted by this disaster.

Should You Sell Disney? Hedge Fund Trading Strategy Profit Behind The Blog (Business2Community)
Today is a special day, we are launching a new product called ‘Profit Behind The Blog’. This is the service where I show you exactly how a Hedge Fund Trader would trade a specific stock. This service combines education with the potential to profit because I will highlight specific trading levels, entries, stops and targets. I will be analyzing The Walt Disney Company (NYSE:DIS) as per our reader’s request (Darius L) for research, available here on BehindWallStreet.com.

Warren Buffett Now Officially Owns 2.8% of Goldman Sachs (InsiderMonkey)
Warren Buffett, Goldman Sachs: In a 13G filing just reported with the SEC, Warren Buffett and Berkshire Hathaway reported a 2.8% stake in Goldman Sachs Group Inc (NYSE:GS). The total position of 13,062,594 shares represents $1.99 billion worth of Goldman stock, and came via warrants bought in 2008. The relationship between Buffett and Goldman Sachs can be traced back to 2008, when Berkshire Hathaway Inc. (NYSE:BRK.A) played a crucial role in rescuing the bank through the offering of a $5 billion lifeline, which aside from warrants also provided Berkshire with $5 billion worth of preferred stock with $500 million annual dividend.

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