Google Inc. retain status as top fund holding (FinancialPost)
Google Inc (NASDAQ:GOOG) remained the most-owned stock among the largest 50 mutual funds in the United States during the fourth quarter of 2013, while Apple Inc. (NASDAQ:AAPL) held on as the most widely-held hedge fund holding south of the border, says a Citigroup Global Markets report. Google was a top-10 holding in 26 mutual funds through the three-month period ended Dec. 31, 2013, good enough to retain its top-stock standing for the fifth straight quarter. Microsoft Corporation (NASDAQ:MSFT) and Wells Fargo & Co. were second-highest with top-10 positions in 19 mutual funds, followed by Amazon.com, Inc. (NASDAQ:AMZN) with 15.
Soros Says Europe Faces 25-Year Slump Without Overhaul (MSN)
Billionaire investor George Soros said Europe faces 25 years of Japanese-style stagnation unless politicians pursue further integration of the currency bloc and change policies that have discouraged banks from lending. While the immediate financial crisis that has plagued Europe since 2010 “is over,” it still faces a political crisis that has divided the region between creditor and debtor nations, Soros, 83, said in a Bloomberg Television interview in London today. At the same time, banks have been encouraged to pass stress tests, rather than boost the economy by providing capital to businesses, he said.
Ex-Two Sigma Analyst Indicted For Alleged Code Theft (Finalternatives)
A former Two Sigma Investments analyst has been indicted for stealing the hedge fund’s proprietary models. Kang Gao, a Chinese national, faces 11 counts of computer trespass, unlawful duplication of computer-related material, criminal possession of computer-related material and unauthorized use of secret scientific material. He pleaded not guilty. According to the Manhattan District Attorney’s Office, Gao used a decompiler to access models he was not permitted to view and then sent those and other Two Sigma data to a personal e-mail account. According to Two Sigma, which has also sued Gao, he planned to use the information, either at a new job or to start his own business in China.
‘Dr Doom’ needs to back up his views with hard evidence (IrishExaminer)
In 2008 economist Nouriel Roubini earned widespread ridicule for claiming that the embryonic problems in the US subprime sector would mutate into an existential financial crisis that would cost the banking system over $1 trillion (€721bn). Soon dubbed Dr Doom, Mr Roubini’s predictions were all too prescient. The global economy spiralled into a vicious downward loop that took unprecedented government and central bank action to stabilise. In the process, Mr Roubini became an unlikely household name who bloated his bank account through syndicated articles and speaking engagements advising how bad things were going to get.
Cooperman Backs Icahn On eBay (Finalternatives)
Critics of Carl Icahn’s campaign against eBay Inc (NASDAQ:EBAY) have been legion. Supporters have been few. But another prominent hedge fund manager has joined the latter contingent. Omega Advisors founder Leon Cooperman said he agreed with Icahn that eBay should spin-off its PayPal unit. “I give Carl a lot of credit for taking the time and showing the energy, and in this case, we happen to agree with him,” Cooperman told CNBC. “I think they should spin out a portion of PayPal.” Omega, like Icahn, is an eBay investor.
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