June 27, 2019 7:01 am

Last Month, Goldman Sachs Quietly Retired A Legendary Investment Strategy

Peter Lynch is known as something of a legend in the mutual fund industry. The stock-picking guru was responsible for 29% annualized returns as the manager of Fidelity’s Magellan Fund from 1977 to 1990, which he took from $18 million in assets under management to more than $14 billion in that 13-year span. Lynch popularized […]

Never-Before-Seen Video Of Steve Cohen Sounding Confused About Insider Trading Laws During A Deposition

In January(ish), PBS’ investigative documentary series Frontline will air its special on SAC Capital, the once- high powered hedge fund that yesterday agreed to plead guilty to insider trading and pay a $1.8 billion fine. SAC, which will now have to close its doors to outside investors, is headed by legendary trader Steve Cohen. According […]

And Now For A Hedge Fund Scoreboard Check

The time has come for the monthly status check on the performance of the now largely anachronistic hedge fund industry: a 2 and 20 anachronism (whose every phone call is monitored by the FBI nowadays, thanks Stevie Cohen) because in Bernanke’s centrally-planned world, risk is verboten, as are any selloffs, and if indeed one does […]

WATCH: Jim Chanos Blows A Hand Of Poker And David Einhorn Gets Nasty At The Table

Tonight at 9:00 p.m., Bloomberg TV airs a secret charity poker game between six of the biggest hedge fund managers in the game, and one takeaway is – everyone’s a loser sometimes, even billionaires. Take the clip below, for instance. Legendary short seller Jim Chanos blows his hand while David Einhorn – normally an even-tempered […]

REPORT: JP Morgan Is About To Pay A Gigantic Fine, And It Could Still Face Criminal Charges

Multiple outlets are reporting JP Morgan will pay a $13 billion civil penalty for allegedly failing to warn investors about risks in mortgage backed securities trades. It would be the largest civil penalty ever levied, representing more than half of the bank’s 2012 profits. But it may still not be enough to shield it from […]

David Einhorn’s Hedge Fund Had A Jelly Donut Party After Bernanke Announced There Would Be No Taper

Hedge fund manager David Einhorn has been an outspoken critic of “QE-infinity,” as some call it – the seemingly unending Fed policy of buying $85 billion worth of bonds every month. He even wrote a Huffington Post column about it last year called  ‘The Fed’s Jelly Donut Policy” where he equated the Fed’s policy with Homer Simpson’s addiction […]

Meet The 17-Year-Old Trader Who Knows Global Macro Markets Like A Veteran

Seventeen year-old Canadian high school student Julian Marchese bought his first stock when he was only eight years-old.  These days he’s passionate about global macro trading and he’s garnering attention in the space from more seasoned macro traders.  “The breadth and depth of Julian’s market knowledge is that of a seasoned macro trader. The young […]

Meredith Whitney Has Started A Hedge Fund

Meredith Whitney has started a hedge fund called Kenbelle Capital LP, Bloomberg reports. Whitney is famous for her accurate bearish call on Citigroup in 2007, but since then some of her calls haven’t panned out – like her assertion that municipal governments would go bankrupt. Now it seems like she’s switching strategies. In August Whitney […]

Icahn Tweets A New Investment In An Energy Company And The Stock Is Surging

Billionaire activist investor Carl Icahn disclosed a big investment over Twitter in Talisman Energy and the stock is going nuts in after-hours trading.  Shares of the oil and gas exploration company’s stock were last trading up around 13%.  According to a securites filing with the SEC, Icahn bought 61,554,602 shares, or a 5.97% stake, in […]

Sotheby’s Has Adopted A ‘Poison Pill’ To Ward Off Dan Loeb

Sotheby’s has announced that it has adopted a ‘poison pill’ – a shareholder rights plan – to stop any single investor from owning more than 10% of the company. The auction house didn’t name any names or anything, but earlier this week activist hedge fund manager Dan Loeb, CEO of Third Point Partners, upped his […]

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