What Is A Hedge Fund? (Fool)
Hedge funds are supposed to make money for their investors regardless of market conditions. They can trace their roots back to a man called Alfred Winslow Jones who is regarded as the brainchild of this type of fund. AWJ reckoned that he could make money regardless of market conditions. His strategy involved buying undervalued shares and selling overvalued ones. He reckoned that this was a good way to make money regardless of whether the market went up or down. He believed that if the market rose, his pick of undervalued shares might rise faster. But if the market should fall, then his crop of overvalued shares might fall more heavily.
Donors Pledge More Than $4 Billion to Tackle Global Malnutrition (BusinessWeek)
Donors pledged as much as 2.7 billion pounds ($4.15 billion) to tackle global malnutrition at a summit in London, the U.K. government said. The pledges made at the Nutrition for Growth summit included 655 million pounds from the U.K. from 2013 to 2020, the government said on its website today. The Children’s Investment Fund Foundation, or CIFF, which is funded by Chris Hohn’s hedge fund TCI, committed $787 million. “Today marks the start of a sustained financial and political commitment to ending under-nutrition within a generation,” said Jamie Cooper-Hohn, president and chief executive officer of CIFF.
Kames adds manager to fixed income team (InvestmentWeek)
Kames Capital has hired Scott Fleming as fund manager on its fixed income team to focus on exotic bond analysis. He will report to John McNeill and work closely with Colin Finlayson, focusing both on the existing government and corporate bond investments and broadening the potential investible universe. Fleming (pictured) joins from multi-asset hedge fund Nuvest Capital, where he was a fixed income portfolio manager. Previously he has worked at Mondrian Investment Partners, ABN Amro Bank and UBS Investment Bank.
Former Soros Adviser and Abe Critic to Enter Japanese Politics (BusinessWeek)
Takeshi Fujimaki, a former adviser to billionaire investor George Soros and critic of Japanese Prime Minister Shinzo Abe’s economic policies, today announced he will run in next month’s Japan parliamentary election. Fujimaki, a 63-year-old former banker, said he will campaign in the July 21 election from the Japan Restoration Party. He criticized Abe’s policy of pushing aggressive Bank of Japan monetary easing as a means to end deflation, saying it will exacerbate the country’s debt problems.
Carl Icahn is considering Oracle’s Mark Hurd to replace Michael Dell (TheInquirer)
CORPORATE RAIDER Carl Icahn reportedly is drawing up a shortlist of potential Dell Inc. (NASDAQ:DELL) CEO replacements for Michael Dell should his bid for the company be successful. Icahn and Southeastern Asset Management have made a bid to rival that of Michael Dell and Silver Lake Partners in the high stakes fight over Dell Inc. (NASDAQ:DELL) and its board. Now it is being reported that Icahn has already started drawing up a list of candidates that he and Southeastern Asset Management will propose as replacements for Michael Dell as CEO of Dell Inc. (NASDAQ:DELL). Icahn has previously warned that should his offer for Dell Inc. (NASDAQ:DELL) be accepted by the shareholders he would look to not only oust Michael Dell as CEO but replace the firm’s board of directors.
Meet The New York Hedge Funder Who Is Marrying A Swedish Princess (BusinessInsider)
New York-based hedge funder Christopher O’Neill is marrying Swedish princess Madeleine tomorrow in a ceremony at the Royal Palace chapel in Stockholm, the Associated Press reports. O’Neill, 38, is a partner and head of research at Noster Capital, a value investing hedge fund. He’s originally from London and holds a dual U.S.-U.K. citizenship. He graduated with his bachelor’s degree in international relations from Boston University. He holds an MBA from Columbia.
Sofia and Nick’s Hamptons fete (NYPost)
Sofia Vergara and her fiancé, Nick Loeb, hit the Hamptons this past weekend and were spotted at a party thrown at the house of hedge fund playboy and Mitt Romney backer Marc Leder. The couple sat at a table in the back yard chatting with former Gov. David Paterson, and billionaire Jeff Greene and his wife, Mei. A fellow partygoer tells us, “Sofia didn’t like the house music the DJ was playing and went to the booth asking him to play Pitbull. But with the loud music and her accent, he couldn’t understand what she was saying. After repeating herself a few times, the DJ said he had no clue who Pitbull is.”
