The Hedge Fund Tiger Cubs In The Tech Coal Mine (Forbes)
Billionaire Stephen Mandel Jr. is one of the most successful so-called Tiger Cubs, the group of hedge fund managers whose careers were nurtured working for hedge fund legend Julian Robertson’s Tiger Management. Mandel founded his own Greenwich, Ct., hedge fund firm, Lone Pine Capital, in 1997 and now manages some $27 billion. Mandel’s moves are closely followed and those looking at his firms filings with the Securities & Exchange Commission noticed that his hedge funds dumped shares of high-flying tech stocks like Amazon, Google Inc (NASDAQ:GOOG) +3.06%, Facebook Inc (NASDAQ:FB) and Pandora Media Inc (NYSE:P) +4.63% in the fourth quarter of 2013.
Hedge funds get $24.3bn in February, highest monthly inflow in three years (Opalesque)
BarclayHedge and TrimTabs Investment Research reported today that hedge funds received $24.3 billion (1.1% of assets) in February, the highest monthly inflow in three years, building on an inflow of $4.4 billion (0.2% of assets) in January. “The hedge fund industry raked in $28.7 billion in January and February, an 83% jump from $15.7 billion in the same period last year,” said Sol Waksman, president and founder of BarclayHedge. Industry assets climbed to a 5–1/2 year high of $2.2 trillion in February, according to estimates based on data from 3,374 funds. Assets rose 18% in the past 12 months but are down 11% from the all-time high of $2.4 trillion in June 2008.
Loehmann’s Is Not Dead Yet: Will Live on New E-Comm Site (Racked)
The death knell has rung for iconic New York discount department store, Loehmann’s, since it was announced that the store had filed for Chapter 11 bankruptcy in December. Loehmann’s online shop stopped accepting orders in early January, before the physical location launched liquidation sales. But the iconic retailer is not dead yet. A hedge fund called Esopus Creek Value Series Fund LP purchased intellectual rights and the IP assets back in January and is finally contractually allowed to use them. They announced that they’d be relaunching the Loehmann’s site with an eye towards a younger customer in May.
The key to Hillary Clinton’s success (WashingtonPost)
It is sometimes hard for Hillary Clinton’s critics to understand how she has risen to the point of inevitability in the Democratic Party’s presidential 2016 sweepstakes. Yes, she failed at health-care reform on her own. Sure, she had no discernible achievements at the State Department and some pretty big flops (e.g. Russian reset, Iran engagement, Israeli relations, Benghazi, Libya). Oh and yes, the health-care plan that essentially duplicated her 2008 platform and which she pushed for internally while on President Obama’s cabinet is widely disliked. And of course, she gobbles up speaking fees from hedge fund donors and courts Arab royalty for Clinton Foundation donors — behavior that would earn a Republican vilification from the New York Times…
Odey adds Goldman analyst to growing tech ranks (eFinancialNews)
Simon Schafer, a former tech analyst at the Wall Street bank, joined Odey Asset Management late last month, according to a person familiar with the situation. He had been with Goldman Sachs Group, Inc. (NYSE:GS) since late 2001. At Goldman Sachs, Schafer covered firms such as ARM Holdings plc (ADR) (NASDAQ:ARMH), Ericsson (ADR) (NASDAQ:ERIC), Nokia Corporation (ADR) (NYSE:NOK), and Infineon Technologies AG (PINK:IFNNY). …The UK hedge fund, founded by Crispin Odey in 1991, employs around 20 analysts. The fund has invested in online retailer boohoo.com, biotech company Circassia, and mobile phone company Ericsson.
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Tiger Global Ups Stake In 58.com Inc (ADR) (WUBA)
