Hedge fund’s little piece of Paradise up by third (MacauBusinessDaily)
A New York-based hedge fund has invested approximately HK$77.60 million (US$10 million) in Paradise Entertainment Ltd. Paradise, chaired by Macau businessman Jay Chun, is the parent of casino electronic table games maker LT Game Ltd. Paradise shares jumped 13.01 percent yesterday in Hong Kong to close at HK$3.04. That was a 32 percent premium to the HK$2.30 per share paid by the hedge fund business – Bridger Management LLC – for its stake. The latter number was mentioned in a Hong Kong filing before the start of trading yesterday.
Kimberly Mounts, ‘Rising Star’ Hedge Fund Adviser, Dies at 48 (SFGate)
Kimberly Mounts, named a hedge fund “rising star” by Institutional Investor magazine in 2012 for her stewardship of MAP Alternative Asset Management Co. in Newport Beach, California, has died. She was 48. She died of cardiac arrest on Oct. 25 at Hoag Hospital in Newport Beach, according to her brother, Scott Mounts. She had been in a drug-induced coma since Oct. 20, when she first went into cardiac arrest following a workout at her gym, her brother said. “She was a vegetarian, didn’t drink, didn’t smoke and worked out religiously,” he said yesterday in a telephone interview.
Fortress is in talks to seed spinoff fund (CrainsNewYork)
Adam Levinson, chief investment officer of Fortress Investment Group LLC (NYSE:FIG)‘s Asia Macro funds, is in talks with the $58 billion alternative-asset manager about starting his own hedge-fund firm, according to one person familiar with the matter. No decision has been made and a possible spinoff may not take place until early 2015, said the person, who asked not to be identified because the information is private. Fortress would probably own a portion of the firm and provide back-office support and research, according to the person. Gordon Runte, a spokesman for New York-based Fortress, declined to comment on the discussions, as did Mr. Levinson.
Seth Klarman Amasses a Third of Drug Company, George Soros Adds Mercury Systems (Nasdaq)
Two well-known gurus, George Soros and Seth Klarman , bought additional shares of companies of which they own more than 5%, according to GuruFocus Real Time Picks. Klarman, leader of the Baupost Group, added shares to his position in Idenix Pharmaceuticals Inc (NASDAQ:IDIX), and Soros grew his position in Mercury Systems Inc (NASDAQ:MRCY). …Klarman raised his stake in Cambridge, Mass.-based Idenix Pharmaceuticals by 37.9% to a massive 36,910,868 shares in aggregate, giving him 27.55% ownership of the company, up from 19.98% a second quarter end. He bought the shares in a series of transactions taking place from Sept. 13 to Nov. 1, at per-share prices ranging from $3.56 to $4.85.
What Apple Needs: More Product Diversity (BusinessInsider)
I’ve be doing a lot of work on Apple Inc. (NASDAQ:AAPL), including providing some analysis to other sites such as CMSwire.com, where you can check out my latest anaylsis of Wall Street’s reaction to Apple’s new product announcements here. But there’s lots of things going on with Apple, and of course there is the nonstop chattering of pundits about what they will do next. And with Carl Icahn getting a lot more involved — he tweeted today that he has sent another letter to Apple CEO Tim Cook — one could see the “vaunted” catalyst that might moving Apple stock higher again. It seems as if the company is at a key point in it’s history. Will it move forward or start to stagnate as it hits a new product slump? Investors are certainly looking for new spark.
Nouriel Roubini | Bubbles in the broth (LiveMint)
As below-trend gross domestic product growth and high unemployment continue to afflict most advanced economies, their central banks have resorted to increasingly unconventional monetary policy. An alphabet soup of measures has been served up: ZIRP (zero-interest rate policy); QE (quantitative easing, or purchases of government bonds to reduce long-term rates when short-term policy rates are zero); CE (credit easing, or purchases of private assets aimed at lowering the private sector’s cost of capital); and FG (forward guidance, or the commitment to maintain QE or ZIRP until, say, the unemployment rate reaches a certain target). Some have gone as far as proposing NIPR (negative interest rate policy).
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