Why Hedge Funds Are Expecting Apple To Crush Earnings Estimates (Investing)
Apple CEO Tim Cook sat down with CNBC’s Josh Lipton last week to discuss his firm’s blockbuster partnership to bring International Business Machines Corp. (NYSE:IBM) business analytics software to Apple’s popular iPhone and iPad consumer devices. At the end of the interview when Tim Cook was asked what he thought of Eddy Cue’s comments that Apple had its best product pipeline Eddy has seen in 25 years prepared for later this year, Tim Cook laughed and noted that he agreed.
Co-investing entering new arena: Hedge funds (PIOnline)
Institutional investors increasingly are translating co-investment experience in private equity, real estate, infrastructure and energy funds to their hedge fund portfolios. Co-investment with hedge fund managers is growing, if a bit slowly, especially with credit and activist equity managers as institutions become more comfortable with an even more direct type of hedge fund investing. Appetite is growing: 52% overall of investors surveyed by J.P. Morgan Capital Introduction Group for its 2014 Institutional Investors Survey said they were willing to participate in hedge fund co-investments.
Hedge Fund Dromeus Turns Greek Tragedy to Triumph With 160% Gain (BusinessWeek)
Dromeus Capital Management SA is turning Greek tragedy into triumph. When Achilles Risvas, chief executive officer of the $240 million investment firm, and Jason Manolopoulos started a fund to wager on Greece’s recovery in October 2012, the country was in intensive care with euro-area governments pushing its leadership to make deeper spending cuts after a bailout. Greece has since largely repaired its finances, returned to the bond market, and according to economists will grow its economy for the first time since 2007.
Lawrence Robbins’s Glenview Keeps the Gains Going (InstitutionalInvestorsAlpha)
Lawrence Robbins’s Glenview Capital Management is off to another great start this year. Its flagship long-short equity fund is outpacing the S&P 500, and another equity fund it manages is surging, according to an investor letter obtained by Alpha. The New York-based firm’s assets under management now stand at $9.2 billion, including $2.8 billion in its Glenview Opportunity funds and $6.4 billion in the flagship Glenview Capital Partners long-short equity funds. This is the first time the firm has returned to the $9 billion mark since it entered 2008…
Hauke accounting firm to pay $1.8M in settlement (IBJ)
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to pay $1.8 million to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday. Hauke, a prominent money manager from Fishers who led hedge fund Samex Capital Partners LLC, was sentenced to 10 years in prison in December 2011 for securities fraud. DeWitt & Shrader served as the accounting firm for Samex from January 2006 until April 2011.
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