Jim Cramer and Billionaire George Soros Agree on Apple Inc. (AAPL), AIG, and More (InsiderMonkey)
CNBC host Jim Cramer has a sizable following thanks to his years as a successful hedge fund manager and to his personal style. Investors can get a good idea of his stock picks from watching his show, but can also see which stocks his charitable trust has reported owning. We compared the stocks that the trust most recently reported owning to those disclosed on billionaire George Soros’s most recent 13F filing (see Soros’s stock picks); here are the five largest holdings by market value in Soros’s portfolio that the trust also owned: Soros initiated a position of over 15 million shares in American International Group, Inc. (NYSE:AIG) last quarter, making it the largest stock holding by market value in his 13F portfolio. Cramer’s trust also owned AIG, and in fact the insurer made our list of the most popular stocks among hedge funds for the third quarter…
Rajaratnam agrees to pay $1.5 million disgorgement in SEC case (Reuters)
U.S. hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment, court papers showed. Rajaratnam would make the payment, representing the profits obtained by unlawful means, to the SEC within 90 days after the entry of the final judgment in court records, according to a filing.
Rejection of InterMune’s Drug Told Early to FDA Advisers (Bloomberg)
Three members of an independent advisory panel say they received as much as a day’s notice in May 2010 before U.S. regulators rejected a drug from InterMune, Inc. (NASDAQ:ITMN), now tied to an insider trading probe of SAC Capital Advisors LP. InterMune’s shares fell 5.4 percent the day before the company announced the rejection, at a time when the panel members knew the product was doomed. Others at the company and at the Food and Drug Administration were aware of the rejection too, and there’s no evidence the 11 panelists did anything wrong. The members reached by Bloomberg said they hadn’t been contacted by U.S. authorities and weren’t aware of a probe.
Math is anything but boring at NYC’s newest museum (WSJ)
Squealing schoolchildren ride a square-wheeled tricycle and a “Coaster Roller” that glides over plastic acorns. Downstairs, they fit monkey magnets together at the “Tessellation Station.” …The museum, nicknamed MoMath, opened Dec. 15 on two floors of an office building north of Manhattan’s Madison Square Park. It is the brainchild of executive director Glen Whitney, 42, a mathematician and former hedge fund analyst who helped raise $23.5 million for the 19,000-square-foot museum.
SEC Charges Research Analyst with Trading and Tipping Ahead of IBM-SPSS Merger (SEC)
The Securities and Exchange Commission today announced additional charges in an insider trading case against two brokers who traded on nonpublic information ahead of International Business Machines Corp. (NYSE:IBM)’s acquisition of SPSS Inc. In an amended complaint filed in federal court in Manhattan, the SEC is now charging research analyst Trent Martin, who was the brokers’ source of confidential information in an insider trading scheme that yielded more than $1 million in illicit profits.
