Monthly Archives: August 2016
World’s Top Performing Fund Is Running Out of Good Stocks to Buy
(Bloomberg) The world’s best-performing stock fund is discovering the downside of success. After producing a three-year return of 275 percent, more than any other equity fund with at least $500 million, managers of the DSP BlackRock Micro Cap Fund say […]
Carl Icahn backs Bill Ackman into a corner in Herbalife battle
(New York Post) Icahn said Ackman, whose Pershing Square hedge fund has a $1 billion dollar short bet on Herbalife, should realize he’s “boxed in,” with little room to maneuver. Nearly a third of the nutritional supplement company’s shares are […]
Biggest Bond Binge in History Passes Africa By as Yields Rise
(Bloomberg) Africa is missing out on the biggest emerging-market bond party in history. As countries from Saudi Arabia to Papua New Guinea prepare to hit the market with tens of billions of dollars in Eurobond sales before the Federal Reserve […]
Virtually No Institutional Investors Are Happy With Activist Hedge Funds Right Now
(Bloomberg) The ongoing squabble between billionaire hedge fund luminaries William Ackman and Carl Icahn over Herbalife Ltd. distracts from a large warning sign for activist managers…The August edition of Prequin’s Hedge Fund Spotlight shows that 100 percent of institutional investors […]
Hedge Fund Industry Sees Net Outflows of USD34 Billion in First Half
(Hedgeweek) The hedge fund industry saw net outflows of USD34 billion over the first half of 2016, with the majority of outflows (USD20 billion) occurring in the second quarter, according to Preqin. As a result, as of 30 June 2016 […]
Wall Street Redoubles Fight to Manage $100 Billion at Endowments
(Bloomberg) Helping endowments manage their investments has grown into an almost $100 billion business that’s attracted stiff competition from banks, consultants and boutiques. Almost 80 investment firms have sprung up to target foundations, family offices and colleges, up from just […]
SEC Adopts Amendments Providing Access to Data Obtained by Security-Based Swap Data Repositories
(HedgeCo.Net) The Securities and Exchange Commission today adopted amendments to a rule that would require security-based swap data repositories to make data available to regulators and other authorities, allowing them to share information and more effectively oversee the security-based swap […]
Why They Did It: Madoff and Enron’s Fastow Explain the Biggest Frauds in U.S. History
(Bloomberg) Why do business executives—people who already possess status and wealth—commit financial crimes? Eugene Soltes offers some interesting theories in his new book, Why They Do It: Inside the Mind of the White-Collar Criminal, including the notion that many senior […]
Williams Names 3 Directors Amid Fight with Activist Corvex
(Reuters) Pipeline company Williams Cos Inc (WMB.N) added three new directors to its board on Monday as it works to fend off an attempt by activist hedge fund Corvex Management to replace all of the company’s directors. Williams said on […]
How Are Leading Companies Adapting to a Low Return World?
(Harvest) A hallmark to our investment approach is we invest in high-moat businesses with sustainable earnings power that have the capacity to reinvest and really it’s this dynamic, the capacity to reinvest, that has been capturing our attention more and […]
Apple’s Day of Reckoning Comes With Billion-Euro Tax Risk
(Bloomberg) The European Union is expected to conclude Tuesday that Ireland provided Apple Inc. with illegal aid through a favorable tax arrangement, a decision that may cost the iPhone maker billions of euros and stir concern among hundreds of other […]
Hedge fund boss Hugh Hendry sees new era for entrepreneurs
(Yahoo Finance) The next 20 years may usher in a new age of growth for entrepreneurship – but that said, hedge fund boss Hugh Hendry is careful not to sound bullish about the stock market. Hendry, the founding partner of […]