Soccer Hedge Fund Betting on Players Gets Global FIFA Ban (BusinessWeek)
Soccer’s world ruling body FIFA will ban investors from buying the transfer rights of players from teams, a booming sector that has led to more than $1 billion of transactions. FIFA president Sepp Blatter told a televised news conference in Zurich today that a committee would oversee a transitional period during which the practice will be phased out. That period will last about “three or four years,” FIFA general secretary Jerome Valcke told reporters. Under the method, known as third-party-ownership, or TPO, investors bet the transfer value of a player will rise and they will make a profit when he is traded.
RadioShack shareholder says in talks to improve liquidity (Reuters)
Hedge fund Standard General LP said it was in talks with RadioShack Corporation (NYSE:RSH) to improve the troubled electronics retailer’s liquidity ahead of the holiday season. RadioShack’s shares were up 21 percent at 96 cents in morning trading on the New York Stock Exchange. Standard General, which raised its stake in RadioShack to 9.8 percent from 7.08 percent to become the largest shareholder, said its proposals include purchasing the company’s loans and other commitments under its credit facility.
Andy Hall: Long And Wrong In The Oil Market (Forbes)
Is Andy Hall on to something? The legendary oil trader is reportedly telling his investors that America’s shale energy boom will be coming to a swift end, sending oil prices skyward to $150 a barrel over the next five years. Such bold predictions helped Hall amass a small fortune; he was once awarded a $100 million bonus for his oil trading genius and bought a castle in Germany. So his words are being taken very seriously by the energy community, but that doesn’t mean everyone agrees.
How to hire like Jeff Vinik (BizJournals)
Whether you’re talking hockey, hedge funds or real estate, Jeff Vinik‘s best business advice is the same: “Hire good people.” Vinik, in the midst of reinventing the Tampa Bay Lightning and downtown Tampa, has assembled teams of high profile people in both hockey and real estate development. But finding the best fit for his team, he said, is about more than an impressive resume. “I like to take people for high level positions — I like to go out to dinner with them and their wife and me and my wife,” Vinik, a former hedge fund manager, said.
Hedge Funds Now Allowed to Advertise to Public (HedgeCo)
One year ago, the SEC adopted Title II of the Jobs Act, removing the ban on general solicitation and creating enormous opportunities for capital formation. The elimination of the ‘do not solicit’ rule allows companies with Reg D offerings to advertise directly to accredited investors. Until last week, hedge funds were still barred from many public advertisements under separate Commodity Futures Trading Commission (CFTC) rules related to derivatives trading.
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