In Insider Trading, Carl Icahn Buys $100 Million in CVR Refining (MinyanVille)
In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they’re registered “insiders” at have been proven profitable to monitor by both academic studies and (more importantly) the experience of your fellow professional investors. …In insider purchases, Carl Icahn, the 21st richest man in America and a Director of CVR Refining LP (NYSE:CVRR), bought $100,000,000 worth of company stock. CVR Refining, of which Icahn holds a majority stake, had an IPO last Thursday worth about $600 million. Also at CVR, Director Vincent Intrieri bought $500,000 worth of company stock. Berkshire Hathaway (NYSE:BRK.B) bought $4,720,319 worth of kidney-treatment company DaVita HealthCare Partners Inc (NYSE:DVA). Berkshire is the majority share holder of the company. Perceptive Advisors, a Beneficiary Owner of biopharmaceutical company Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR), bought $1,336,285 worth of company stock.
Renowned Economist Dr. Nouriel Roubini to Provide Keynote Address at the Philippine Investment Summit 2013 (Sys-Con)
Dr. Nouriel Roubin, co-founder and chairman of Roubini Global Economics and a professor of economics at New York University’s Stern School of Business, will be giving the keynote speech on 30 January 2013 at the Shangri-La, Manila to an audience of bankers, fund managers, institutional investors and business leaders. Dr. Roubini, a former senior economist for international affairs on the White House Council of Economic Advisors and senior advisor to the undersecretary for international affairs at the U.S. Treasury Department, is well sought after for his global economic insights and prescient calls on market trends for which subsequent events have mostly proven him right.
Galena Energy Hedge Fund Chief Lixi Said to Leave Company (Bloomberg)
Claude Lixi, the head of Galena Asset Management Ltd.’s energy hedge fund, left the London-based company, according to two people with direct knowledge of the departure. The people didn’t say whether he resigned or was fired, and asked not to be identified because the information is private. Lixi, 40, who was based in Geneva, declined to comment when contacted yesterday on his mobile phone. Duncan Letchford, the company’s chief investment officer in London, didn’t return a message left with his secretary yesterday. Lixi joined Galena, owned by Trafigura Beheer BV, in May 2009 from Morgan Stanley, where he traded oil options.
Former BlueGold hedge fund manager Andurand plans new oil fund (Reuters)
Pierre Andurand, manager of the oil-focused BlueGold hedge fund that closed after heavy losses last year, plans to launch a new energy hedge fund in London by next month. The firm, Andurand Capital Management LLP, opened in central London’s Brompton Road in July. BlueGold wound up in April after losing a third of its capital in 2011. “The new hedge fund will be launched in February. I can’t say more than that for now,” a source at Andurand Capital told Reuters.
J.P. Morgan’s Dimon Apologizes, Goes on Offense (WSJ)
James Dimon of J.P. Morgan Chase was prepared in Davos to apologize for the more than $6 billion of trading losses racked up by the so-called London Whale, but he certainly wasn’t prepared to abase himself. As the head of a big bank who was in charge during the financial crisis and was at the first major session of the World Economic Forum on the global financial industry, he was an easy target. Min Zhu, deputy managing director of the International Monetary Fund, reeled off a string of statistics to show that the industry certainly hadn’t cleaned up its act since the crisis, and Paul Singer, principal of hedge fund Elliott Associates, was also keen to lambaste big banks, including Mr. Dimon’s.
ALERT: The Infamous Paul Tudor Jones ‘Trader’ Documentary Is Online Again (BusinessInsider)
Months ago, the infamous Paul Tudor Jones ‘Trader’ documentary resurfaced, only to disappear back into the depths internet again. So if you missed it then, grab it now from dailymotion before it’s too late — last time it was only up for about a day. All the drama stems from the fact that PTJ does not like this movie. He asked PBS to stop airing after it premiered in 1987. He also, according to Wall Street lore, purchased almost all of the copies of the movie on VHS.
