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Hedge fund Greenlight down more as VW surges

Wednesday, October 29, 2008 : Permalink

Hedge fund manager David Einhorn’s Greenlight Capital suffered heavy losses in his portfolio when German carmaker Volkswagen’s shares spiked 82 percent on Tuesday, people familiar with his portfolio said.

The German carmaker briefly zoomed past Exxon Mobil to become the world’s biggest company by market value as hedge funds who bet Volkswagen’s price would drop further were forced to cover their positions.

Carmaker Porsche Automobil Holding SE surprised the market by announcing it had effectively gained control of 74 percent of Volkswagen’s voting shares.

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Tags: cevian-capital, cliche, exxon-mobil-corp, golf-term, motive, personal-interests, retail-gas, steep-rise

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Morgan Stanley, Citi Lose Oil Analysts as Hedge Funds Hire

Monday, June 16, 2008 : Permalink

Bloomberg- Wall Street is losing its top oil analysts as securities firms suffer record losses and hedge funds offer the promise of higher pay.

Morgan Stanley’s Douglas Terreson and Citigroup Inc.’s Doug Leggate, ranked first and second by Institutional Investor on coverage of the biggest oil companies, left their positions, the banks said. Geoff Kieburtz, the No. 3 analyst for oilfield contractors, is leaving Citigroup. Robert Morris, the top-ranked analyst for independent oil companies such as Anadarko Petroleum Corp., left Bank of America earlier this year.

Exxon Mobil Corp., Anadarko and other oil stocks rose to all-time highs this year as crude futures surged 46 percent to a record $139.89 a barrel and natural gas jumped 73 percent. The exits also came as banks and securities firms cut more than 83,000 jobs after the collapse of the subprime mortgage market led to $390 billion in writedowns and losses.

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Tags: arthur-sulzberger, cash-bonds, credit-default-swap, curbs, default-status, exxon-mobil-corp, german-prosecutors, investment-firm, investor-money, onshore, retail-gas, toast, wood-creek

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Hedge fund Greenlight down more as VW surges

Morgan Stanley, Citi Lose Oil Analysts as Hedge Funds Hire

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