Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund News: Steven Cohen, Omega Advisors, Goldman Sachs Group, Inc. (GS)

Editor’s Note: Related Tickers: Goldman Sachs Group, Inc. (NYSE:GS), Citigroup Inc. (NYSE:C), J.C. Penney Company, Inc. (NYSE:JCP), Herbalife Ltd. (NYSE:HLF), Elan Corporation, plc (ADR) (NYSE:ELN), Credit Suisse Group AG (ADR) (NYSE:CS), SPDR Gold Trust (ETF) (NYSEARCA:GLD), iShares Silver Trust (ETF) (NYSEARCA:SLV), Market Vectors Gold Miners ETF (NYSEARCA:GDX), Sprint Nextel Corporation (NYSE:S), DISH Network Corp. (NASDAQ:DISH), Mylan Inc. (NASDAQ:MYL)

Hedge fund ‘owes Elan shareholders at least $685m’ (Irish Examiner)
Steven CohenSAC Capital Advisors, the hedge fund firm founded by Steven Cohen, owes Elan Corporation, plc (ADR) (NYSE:ELN) shareholders at least $685.6m (€533.3m) as a result of alleged insider trades in the drugmaker’s stock, investors said in a lawsuit. The Elan shareholders’ claim came in a consolidated complaint filed on May 13 in Manhattan federal court against SAC and Mr Cohen. The suit stems from federal criminal charges against Mathew Martoma, a former SAC Capital portfolio manager accused of using inside information to help SAC make $276m on shares of Elan and Wyeth. Mr Martoma has denied the charges.

Gold Posts 6th Consecutive Loss, Hedge Funds Still Interested? (Wall St. Cheat Sheet)
On Thursday, gold futures for June delivery, the most active contract, declined $9.30 to close at $1,386.90 per ounce, while silver futures for July traded flat to finish at $22.66. Gold has now closed lower for six consecutive sessions. Both precious metals continue to drift lower as sentiment remains weak. Credit Suisse Group AG (ADR) (NYSE:CS) recently said gold will trade down to $1,100 an ounce within a year, and sink below $1,000 an once within five years. However, the pullback in precious metals during the first quarter appears to have attracted a popular hedge fund. Leon Cooperman’s Omega Advisors added new positions in the SPDR Gold Trust (ETF) (NYSEARCA:GLD) and iShares Silver Trust (ETF) (NYSEARCA:SLV), worth $13.9 million and $4.4 million, respectively. The firm also took a new position in the Market Vectors Gold Miners ETF (NYSEARCA:GDX) worth $4.4 million.

Billionaire Carl Icahn Has Been Buying Herbalife Ltd. (HLF) and Transocean LTD (RIG) (Insider Monkey)
If anyone’s been living on another planet for the last six months, let’s sum up: billionaire Bill Ackman of Pershing Square gave a presentation accusing Herbalife Ltd. (NYSE:HLF) of being a pyramid scheme, driving down the stock price. As it was recovering, Carl Icahn criticized Ackman in the media, eventually dialing in to a CNBC interview with the hedge fund manager and engaging in a nasty fight. Since then Icahn has become a major shareholder in Herbalife (though he had apparently started buying before his confrontation with Ackman) and owned over 16 million shares at the end of March. He has suggested that he may try to take the multilevel marketer of health and fitness products private at a premium.

Goldman Offers Hedge Funds to the 99% (
Goldman Sachs Group, Inc. (NYSE:GS)Goldman Sachs Group, Inc. (NYSE:GS) said Thursday it is bringing the sophisticated trading strategies of Wall Street hedge funds to individual investors with investment portfolio’s and retirement accounts as small as $1000. The bank’s investment management unit, Goldman Sachs Asset Management, is launching its Goldman Sachs Multi-Manager Alternatives Fund (GMAMX), which will give ordinary investors the ability to put their savings and retirements in Wall Street’s riskiest products such as convertible bonds, junk bonds, bank loans, mortgage backed securities, credit default swaps, structured products, swaptions, total return swaps, swaps on futures, variance swaps and contracts for difference, among other arcane financial instruments.

Credit: Goldman Sachs Group, Inc. (NYSE:GS)

Occupy hedge funds: when private investment funds and the public collide (The Guardian)
The Securities and Exchange Commission is expected to soon begin allowing hedge funds and other private placement investments to begin advertising and otherwise promoting themselves to the general public. That means television commercials and gussied-up websites, not to mention cold calls and online marketing pitches, coming to your home. “Ms Olen, would you like to hear about an innovative investment strategy, formerly only known to the wealthiest of the wealthy … ? The veteran investor Henry Kaufman often has a snarky but accurate quote attributed to him: that there are two kinds of people who lose money: …

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
This is a FREE report from Insider Monkey. Credit Card is NOT required.