Author Archives: Editor
Investors, Dismayed by Losses at Sears, Pull Money From Hedge Fund
NYT – The storied investing empire of Edward S. Lampert is shrinking. David Geffen, the entertainment mogul, got out in 2007. Members of the Ziff family cashed out more recently, between 2011 and earlier this year. And more investors are heading for […]
Detroit ruling to boost hedge fund demand, says Ashcroft’s Don Steinbrugge
Investment Europe – Don Steinbrugge, chairman at Agecroft Partners, says a court ruling involving bankrupt US city Detroit could have significant implications for demand for hedge fund investments. Judge Steven Rhodes’ ruling that the City of Detroit is officially bankrupt […]
SEC Charges Miami-Based Trader With Insider Trading and Short Selling Violations
New York (HedgeCo.Net) – A Miami-based trader has been caught red handed with insider trading information in a large Chinese company. Charles Raymond Langston III was also caught conducting illegal short sales in the securities of three other companies. “Langston agreed to […]
Chinese internet stocks propel US hedge fund to double-digit returns
Hedge Fund – Anti-virus software company Qihoo 360 Technology, one of Passport’s big holdings, climbed 190 per cent this year. Photo: Qihoo.com website Booming Chinese internet stocks have fuelled Passport Capital’s double-digit gains this year at a time when many […]
Class-action suit seeks $50M from hedge fund manager
Cincinnati – A longtime Cincinnati money manager already targeted in several civil suits is also being sued in federal court on allegations he bilked about 200 investors out of more than $50 million. The class-action suit, filed Tuesday in U.S. […]
Philip Morris International Inc. (PM): Are Hedge Funds Lighting Up This Stock?
Philip Morris International Inc. made some headlines Wednesday when it announced an agreement to buy a 20-percent stake in Russian distributor firm Megapolis for about $750 million, according to reports. Megapolis is the Russia distributor for Philip Morris International Inc., wich […]
Fifth Third Bancorp Charged With Improper Accounting During Financial Crisis
New York (HedgeCo.Net) – The SEC has charged the holding company of Cincinnati-based Fifth Third Bank and its former chief financial officer with improper accounting of commercial real estate loans in the midst of the financial crisis. Fifth Third agreed […]
SAC analyst recalls Steinberg unfazed after FBI hedge fund raids Bloomberg News
Stanford Advocate – After FBI agents raided hedge funds in November 2010, SAC Capital Advisors fund manager Michael Steinberg expressed confidence he wouldn’t be tied to illegal tips, his former analyst testified. Jon Horvath, the analyst, told the Manhattan federal […]
Hedge-fund manager slashes shares in Sears
The Blade – Edward Lampert, the hedge-fund manager who for the last eight years tried to turn around Sears Holdings, cut his stake in the retailer below 50 percent. Mr. Lampert’s ESL Investments owns 48 percent of the chain, down […]
Chinese internet stocks propel US hedge fund to double-digit returns
SCMP – Booming Chinese internet stocks have fuelled Passport Capital’s double-digit gains this year at a time when many other hedge funds have delivered only modest returns. The San Francisco-based fund, which invests US$3.1 billion for clients, has returned 18.3 […]
Hedge Fund Investing: The SEC Roundtable On Proxy Advisors
New York (HedgeCo.Net) – The SEC over the weekend announced the agenda and panelists for its December 5 staff roundtable on the use of proxy advisory firm services by institutional investors and hedge fund investment advisers. The roundtable panelists are: […]
Hedge fund downgrades stock over company’s links to illegal logging in Russian Far East
MONGABAY – A hedge fund manager has downgraded Lumber Liquidators’ stock over the company’s alleged links to illegal logging in the Russian Far East, reports The Wall Street Journal. Speaking at the Robin Hood Investors Conference on November 22, Whitney Tilson, […]