Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
The Money Times – Short-sellers and hedge funds, though sometimes shadowy, are also sometimes seen as the smartest guys in the room. They did their homework and will bet their capital against the crowd. It’s not the most popular way to go, but the rewards can be quite lucrative.
On Motley Fool CAPS, we have our own brand of investors who found the chinks in a company’s armor and correctly called its fall. "Underdogs" are investors who earned 100 or more CAPS points correctly predicting one or more stocks would underperform the market.
Sioux City Journal – Last year’s winning bid for lunch with legendary investor Warren Buffett topped $2.1 million, but given the economic turmoil, who knows if this year’s bidding will approach that level.
Yet Buffett has built a devoted following as demonstrated by the crowd of 35,000 people at his recent Berkshire Hathaway shareholders meeting, and he offers only one lunch per year.
The online bidding begins at $25,000 Sunday in a charity auction that benefits the Glide Foundation, which provides social services to the poor and homeless in San Francisco. The bids will likely escalate significantly before the auction closes Friday evening at 9 p.m. CDT.
Globe and Mail – The hedge fund crowd jumped on Nova Chemicals yesterday, thrilled to invest in a takeover, but pessimistic that a bidding war will begin for the chemical company.
Despite heavy trading yesterday, the price of shares in Nova never came close to the $6 (U.S.) a share cash offer from Abu Dhabi state-owned oil company International Petroleum Investment Co. (IPIC).
Financial Post – Investors have lost a lot of money in mining companies the past few months, but they still seem interested in finding the next big winner.
About 300 investors are expected for BMO Capital Markets’ annual global mining conference, which began yesterday in Florida and continues through Wednesday. The event, which attracts senior management from most of the world’s major mining companies, drew about 365 investors last year, so there is not much of a drop-off.
Likewise, next week’s Prospectors and Developers Association of Canada conference in Toronto is expected to draw another huge crowd.
