Herbalife Battles To Polish Reputation As Criticism Mounts That Company Is A Pyramid Scheme (FoxNews)
“Through selling Herbalife Ltd. (NYSE:HLF) I learned everything I didn’t learn in college,” Claribel Calixto told Fox News Latino. The 49-year-old New Jersey mother of two has been selling the products of the beleaguered California-based nutritional supplement company for almost 18 years now. “I make a living from Herbalife,” Calixto said in Spanish. “The company has opened up opportunities for me.” …Critics, including hedge fund manager William Ackman, the founder and CEO of Pershing Square Capital Management, have called the company a hollow investment – and in December 2012 he started going after Herbalife stock.
Dinan Says York Buying ‘Robust’ European Credit as Banks Retreat (BusinessWeek)
Jamie Dinan, founder of $21.7 billion York Capital Management LP, said his hedge-fund firm is building investments in Europe where there are more “green shoots” of recovery than six months ago. “European credit is alive, it’s robust,” he said at the SkyBridge Alternatives Conference in Las Vegas today. “We’re stepping in where the banks aren’t going whether it’s Greek companies, shipping.” Dinan, who founded York in 1991, said that European equities are six to 18 months behind U.S. markets. The hedge-fund manager said interest rates will stay lower for longer than people anticipate and that Ukraine is a big risk in global markets.
Nouriel Roubini: Call me Dr. Boom (CNN)
Nouriel Roubini, the famously negative economist, says it may be time to change his nickname. The New York University professor, who predicted the housing bust and financial crisis, has been upping his economic outlook recently. Speaking at the annual SALT hedge fund conference in Las Vegas on Wednesday morning, Roubini said that many of the risks in the global economy have receded. Also helping, U.S. investors no longer seem worried about political trouble overseas. “Next to him you should call me Dr. Boom,” said Roubini, referring to Peter Schiff, another economic forecaster on the panel.
HSBC private bank bets on new hedge funds in Asia (SCMP)
HSBC Holdings plc (NYSE:HBC) private bank unit, which invests US$25 billion in hedge funds globally, sees opportunities in backing new Asia-based managers, said Henry Lee, regional head of its alternative investment group. About 15 per cent of the managers in an HSBC programme that provided capital to smaller hedge funds were based in Asia, Lee said. It has made early-stage investments in regional managers such as Hong Kong-based Zeal Asset Management, Myriad Asset Management and Tybourne Capital Management (HK).
What Hedge Funds Talk About When They Talk About Money (DealBook)
Behind the dancing fountains of the Bellagio Hotel, hedge fund titans mingled with wealth managers at the Hyde nightclub on Tuesday night. Hands were shaken and business cards were exchanged as waitresses in tiny red dresses strutted about and the alcohol flowed. It was a private kickoff for the SkyBridge Alternatives Conference, or SALT, the hedge fund industry’s biggest yearly gathering. Referred to on Wall Street as the industry’s Super Bowl, it brings together headline investors, politicians and entertainers.
Soros-Backed Group Claims Charter Schools Are Racist (FreeBeacon)
A George Soros-backed advocacy group filed complaints in three cities alleging that charter schools are racist. The Advancement Project is asking the Justice Department to investigate the closures of failing public schools in New Orleans, Chicago, and Newark on the grounds that the closings are racially motivated. The group, whose mission is to dismantle “structural racism” and promote “racial justice,” filed complaints under Title VI of the Civil Rights Act on behalf of “Journey for Justice,” a coalition of grassroots organizations supported by teachers unions.
Recommended Reading:
Tiger Global Management Reveals New Passive Stake in Recently Public Tuniu Corp (TOUR)
Panning Capital Management Significantly Increases Passive Stake In Baltic Trading Ltd (BALT)
Bill Gates’ Investment Arm Edges Up Stake in Liberty Global plc (LBTYA)
