David Einhorn Keeps Buying This Controversial Energy Giant (WallStCheatSheet)
After underperforming the broad market at the beginning of the year, energy companies have drawn a significant amount of attention recently. Many members of the sector trade at attractive valuations and offer impressive dividend yields that can be difficult to match in today’s low-interest-rate environment. With that in mind, one well-known hedge fund titan continues to invest in a controversial energy giant. David Einhorn, founder of Greenlight Capital, added to his position in BP plc (ADR) (NYSE:BP) during the first quarter. According to the latest 13-F filing, a quarterly report of equity positions, Greenlight Capital held 1.48 million shares of BP at the end of March, up 51 percent from only 980,000 shares in the prior quarter.
Wall Street CEOs open up about their gay sons (WTVR)
In the “boy’s club” of Wall Street, some top executives’ views on gay rights changed entirely when the issue became personal. That is, when their own adult children came out of the closet. When he was CEO of Morgan Stanley (NYSE:MS) and Credit Suisse Group AG (NYSE:CS) First Boston, John Mack was known for his progressive views on lesbian, gay, bisexual and transgender equality. …Hedge fund billionaire Paul Singer, CEO of Elliott Management Corp., said that before his son Andrew came out of the closet he would have rated himself “a solid 2.1″ out of 10 when it came to accepting LGBT issues.
George Soros Funds BDS, Buys SodaStream Stock (FrontpageMag)
It’s no secret that lefty doesn’t practice what he shrieks. Michael Moore had Haliburton stocks. Code Pink’s deranged Medea Benjamin invests in companies that have a sizable presence in Israel. George Soros, a major funder of the Anti-Israel movement, including BDS, goes them one better by buying up a chunk of Sodastream International Ltd (NASDAQ:SODA) while investing in other Israeli companies. …It’s doubtful that the leftist groups funded by George Soros which attacked Johansson will condemn their own backer. Just as Code Pink doesn’t have a lot to say about Medea Benjamin’s investments.
Nouriel Roubini – The Bad News Just Keeps On Coming (BidnessETC)
“All the risky things that were happening back in ’06 and ’07 are back again to the same level, if not more.” There is only one man in the entire universe who could have uttered these words. This man, or rather this legend, has the uncanny ability of staring happiness in the face and making it miserable –that too for no good reason. This man, this predictor of chaos and turbulence, is none other than Nouriel Roubini. Don’t get us wrong, we know that Roubini is a professor at New York University, chairman of Roubini Global Economics, and a renowned economist, but what we can’t place our heads around is why most (if not all) of his financial prophecies point towards doom and gloom.
Three ex-natgas traders of hedge fund Sasco join merchant Freepoint (Reuters)
Energy merchant Freepoint Commodities said on Monday it hired three natural gas traders from hedge fund Sasco to expand its reach into U.S. gas futures, amid a return of volatility that could boost client interest in that market. Joe Howley, previously chief investment officer at Sasco, joined Stamford, Connecticut-based Freepoint as senior managing director, while traders Brian Lisoski and Garth Camp have come on as vice presidents of trading, Freepoint told Reuters in an email. The three worked at Westport, Connecticut-based Sasco for about a year. Their move to Freepoint was first reported by energy news portal Sparkspread on Monday.
Allergan Hits Back After Ackman Rips Chairman Pyott Over Conflicts Of Interest (Forbes)
Things are getting personal in the three-way fight for the future of Botox-maker Allergan AGN -0.19%. Hedge fund manager Bill Ackman, whose Pershing Square owns 9.7% of Allergan, fired off a scathing letter to the company’s lead independent director Michael Gallagher, railing against Chairman and CEO David Pyott’s “disabling conflict of interest” when it comes to evaluating the $46 billion takeover offer that is on the table from Valeant Pharmaceuticals Intl Inc (NYSE:VRX). …The letter goes on to cite “numerous Allergan shareholders” who have told Ackman that Pyott has denigrated Valeant’s business model and criticized Pershing Square.
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