Icahn Domain Pops Up After Herbalife Hedge Fund Fight (BusinessWeek)
First, hedge fund titans Bill Ackman, Carl Icahn and Daniel Loeb tussled publicly over whether Herbalife Ltd. (NYSE:HLF) is a pyramid scheme. Now their names are popping up online in ominous-sounding domain names, including “therealcarlicahn.com” and “therealdanielloeb.com.” While Herbalife registered several domain names referencing Ackman after he accused the nutrition company of running a pyramid scheme, it’s unclear who or what entity is behind the ones referencing Icahn and Loeb. They were privately registered through Register.com and currently don’t lead to any actual websites.
Guggenheim Hedge Fund Arm Seeks New Managers (Finalternatives)
Guggenheim Partners is poised to ramp up its multistrategy hedge fund business with the addition of as many as 10 new portfolio managers this year. Guggenheim Global Trading currently has 15 managers in-house, managing more than $500 million in Guggenheim Partners’ assets, as well as some outside capital. But Guggenheim has pledged as much as another $1.5 billion to GGT, which debuted a year ago, and GGT is interviewing several possible candidates as it aims to increase its stable of managers to as many as 25 by the end of 2013, Bloomberg News reports.
BNY Mellon Named Largest Fund of Hedge Fund Administrator (Equities)
BNY Mellon, the global leader in investment management and investment services, has been recognised as the world’s largest Fund of Hedge Fund (FoHF) administrator in HFMWeek’s bi-annual administrator survey. BNY Mellon saw its FoHF assets under administration rise by $20 billion to $130.6 billion in the six months to October 2012, demonstrating considerable growth in what has been a challenging period for the FoHF industry, with overall assets under management down by 2%, falling from $1.09 trillion to $1.07 trillion.
Court Rules In Partner Vs. Partner Hedge Fund Dispute, Will Investigate Forgery Claim (Finalternatives)
The dispute between a pair of former hedge fund partners will continue, even after a New York appeals court found unanimously that one had improperly withheld profits from the other. The Manhattan court found that James Melcher should be awarded damages for Brandon Fradd’s withholding of the $6 million. The two ran the now-defunct Apollo Medical Partners.
Hedge Fund Billionaire Paul Singer Gives Bernanke A ‘D’ Grade (BusinessInsider)
Morgan Stanley’s high profile hedge fund conference is happening right now at the Breakers Resort in Palm Beach, Florida. The annual conference has attracted some of the biggest names in the industry, including billionaire Steve Cohen, the founder of SAC Capital. Unfortunately, the press is not allowed. However, Absolute Return’s Lawrence Delevingne has been getting scoops of what’s being said at the conference.
Dr Doom and Gloom makes his investment predictions for 2013 (SCMP)
It’s always good value listening to the thoughts of Marc Faber, otherwise known as Dr Doom. The eternally bearish investment guru can always be relied on to pour cold water on market exuberance, no matter how buoyant things might look. He notes the S & P 500 is getting very close to the all-time high of 1565, but he’s not big on equities full stop. “If you look back at equity performance over the last 15 years, it has not been good. The Dow hit 1100 in March of 1999 and we’re only getting close to 1,4000 now,” he reminded RTHK listeners. In fact, equities have done miserably in the last 15 years, he concluded. So isn’t it about time that they are the place to be? Not really, he said, pointing out that the Dow Jones and S & P Stock performance, dividends included, averages out at a pretty unexciting 6 per cent per annum.
Bank Muscat hosts Rogers (Omantribune)
MUSCAT Bank Muscat hosted Jim Rogers, investment expert, as part of the Treasury & Capital Markets conference on ‘Global Financial Markets – Prevailing Challenges and Strategies for 2013’, on Wednesday, according to press release. Jim Rogers shared his insights on the state of world economy and financial markets with dignitaries from the government, senior private sector officials and top clients who attended the conference.
