…the hedge fund chief’s ex-girlfriend, British socialite Annabelle Bond, according to a complaint filed today in Manhattan federal court. Bond is the fourth British woman to climb Mount Everest and daughter of ex- HSBC Holdings Plc (HSBA) Chairman Sir John Bond, the filing stated.
Fund Manager Bajaj Wins Dismissal of Most Claims by Ex-Partner (Bloomberg)
Yashwant Bajaj, co-founder of hedge-fund firm Hachiman Capital Management, won dismissal of most claims against him by a former partner who said he was shortchanged after the two decided to shut their Singapore company. Toru Ueda claimed his former partner made an unauthorized debit after they decided to close the fund. That claim was struck out by a Singapore High Court assistant registrar, according to an April 19 order.
Renaissance hedge fund profits made their way to Obama camp (Muckety)
Verizon Communications Inc. (VZ), Merck & Co., Inc. (MRK) & Levin Capital Strategies’ +3.5% Yielders (Insider Monkey)
Here are five stocks which John Levin’s Levin Capital Strategies reported owning at the beginning of January which feature dividend yields of 3.5% or higher according to current prices and recent dividend policy. The fund reported a position of 3.1 million shares in Verizon Communications Inc. (NYSE:VZ) at the end of the fourth quarter of 2012. Verizon Communications Inc. not only pays a high dividend yield- close to 4%- it also has little sensitivity to the broader economy as shown by the beta of 0.3. Investors should be aware that the company has been trying to buy the remainder of Verizon Wireless from Vodafone Group Plc (ADR) (NASDAQ:VOD) and there has been some speculation that it would pay with stock.
Omaha Civilian Employees chooses hedge funds-of-funds, midcap growth managers (Pensions & Investments)
Omaha (Neb.) Civilian Employees’ Retirement System hired hedge fund-of-funds manager SSARIS Advisors to run $17 million and New Amsterdam Partners to run $12 million in active domestic midcap growth equities, confirmed Buster Brown, chairman of the board of trustees.
Short-seller Chanos still bearish on PC-makers Dell, HP: CNBC (Reuters)
Hedge fund manager James Chanos told CNBC on Wednesday that he was still betting against the shares of computer-makers Dell Inc. (NASDAQ:DELL) and Hewlett-Packard Company (NYSE:HPQ). Chanos, noted for predicting the downfall of Enron and more recently a vocal bear on the Chinese economy, told CNBC that the “PC (personal computer) business is falling apart” and the industry faces structural problems. “The real structural issue is these companies are behind the eight-ball,” Chanos said. “The secular story has not gone away.” Chanos, who is president and founder of short-selling firm Kynikos Associates, has criticized Hewlett Packard for failing to keep up with competitors in the mobile and cloud computing space.
Ackman-Backed CEO Pushes CP Rail Profit Above Estimates (Bloomberg)
Canadian Pacific Railway Limited (USA) (NYSE:CP) posted higher first-quarter earnings than analysts estimated as Chief Executive Officer Hunter Harrison makes progress on profitability goals set during last year’s proxy fight. Net income rose 53 percent to C$217 million ($211.6 million), or C$1.24 a share, compared with the C$1.22 average of estimates in a Bloomberg survey. Revenue gained 8.6 percent to C$1.5 billion, the Calgary-based railroad said today. Harrison, a former CEO at larger rival Canadian National Railway Co. (CNR), has cut jobs, closed yards and run longer trains as he works to end Canadian Pacific’s stint as the least efficient North American railroad. He took over in June after a proxy fight led by William Ackman, a hedge fund manager and the railroad’s largest shareholder, to oust Harrison’s predecessor.
