Telecoms and healthcare were hedge fund sector’s major buys in Q4 (HedgeWeek)
S&P Capital IQ performs its hedge fund analysis quarterly in order to help investors understand what the most prominent US-based hedge funds are buying, holding and selling. “Our firm develops its analysis through an examination of SEC filings accessed via proprietary Excel based models. In turn, clients can use these models to better spot global trends in various asset categories and see what some of the largest investors are targeting,” says Tony Elyahou, senior director, S&P Capital IQ.
Ex-Goldman director Gupta’s insider trading conviction upheld (TheGlobeAndMail)
A federal appeals court upheld the conviction of former Goldman Sachs Group, Inc. (NYSE:GS) director Rajat Gupta, one of the biggest successes in federal prosecutors’ long-running probe to stop insider trading on Wall Street. The 2nd U.S. Circuit Court of Appeals rejected Gupta’s claim that wiretap evidence should not have been admitted to show that he leaked news about Goldman’s finances, including a crucial investment by Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A), by phone to Galleon Group hedge fund founder Raj Rajaratnam.
New minister invested in hedge fund (TheStarPhoenix)
New Natural Resources Minister Greg Rickford holds investments in an elite hedge fund that trades securities in the energy sector he will now oversee. According to his conflict of interest disclosure, Rickford owns an unspecified number of units in the Waratah One Fund, an investment vehicle administered by Toronto firm Waratah Advisors. The minimum buy-in for the fund is $500,000, but Rickford did not personally invest that amount. His share was pooled with others by his investment adviser.
Be Wary of Investing in Hedge-Fund-Like Mutual Funds (MoneyNews)
For investors who don’t have the millions of dollars required to invest in many hedge funds, there’s an alternative — mutual funds that deploy hedge fund strategies. Such funds had $286 billion of assets as of Dec. 31, soaring from $41 billion five years earlier. But be careful about investing in these mutual funds, writes Rob Copeland of The Wall Street Journal.The funds utilize complicated investment strategies that are difficult for investors to track, he says.
Why it makes sense for Larry Page to donate his billions to Elon Musk (Reuters)
Three years ago, with a post entitled “philanthropy isn’t for profit”, I expressed the hope that we had finally reached a turning point, and that people would “do good to do good, rather than simply declaring that the best way they can do good is to chase profit as zealously as possible”. And maybe I was right. That post was directed in part at Matthew Bishop, who had written a silly article asking whether International Business Machines Corp. (NYSE:IBM) had done more good for the world than the Carnegie philanthropies. But this evening, when I ran into Bishop at an event for rich people in a swanky midtown club, he couldn’t bring himself to defend Larry Page, who said something similar at TED:
Jailed Hedge Fund Consultant Ordered To Pay $6.3M To SEC (Law360)
A New York federal judge on Tuesday ordered convicted former hedge fund consultant and government critic John Kinnucan to pay $6.33 million in a civil insider trading case brought by the U.S. Securities and Exchange Commission. In imposing a maximum triple penalty against the former Broadband Research LLC CEO, U.S. District Judge Alison Nathan noted Kinnucan’s “high degree of bad intent” and 2012 criminal conviction on allegations similar to those in the civil suit. “As Kinnucan’s conviction in the parallel criminal case demonstrates, his conduct was…
Recommended Reading:
Hedge Fund Cliffhanger at Cliffs Natural Resources Inc (CLF)
Why ‘Hedgies’ Are Bullish on Cracker Barrel Old Country Store, Inc. (CBRL)
John H Lewis, Osmium Partners Appoint Director To Vitacost.com, Inc.(VITC)’s Board
