NEW YORK Embattled drug company Valeant Pharmaceuticals International Inc, whose stock price has tumbled 38 percent this year, will appoint three new board members as soon as Wednesday, people familiar with the matter said on Tuesday. The drug maker will award... More »
NEW YORK Billionaire investor Bill Ackman on Tuesday called embattled drug company Valeant Pharmaceuticals a “very valuable asset” but forecast that if the company’s situation does not stabilize soon new management will be brought in or the company will be sol... More »
NEW YORK Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday the recent rally in risk assets is nearing an end as those assets will struggle in sympathy with oil. “Oil, like I said, had an easy time rallying from 28 to 38. Now the ... More »
NEW YORK Investors pulled $1.57 million in February from the Janus Global Unconstrained Bond Fund run by closely followed investor Bill Gross, down from cash withdrawals of $14 million in January, Morningstar data showed on Tuesday. The Janus Global Unconstrai... More »
NEW YORK Warren Buffett bemoaned the “negative drumbeat” on the U.S. economy from presidential candidates in his annual Berkshire Hathaway Inc shareholder letter on Saturday, saying they are misleading Americans into believing their children will be worse off ... More »
NEW YORK Jeffrey Gundlach, the co-founder and chief executive officer of DoubleLine Capital, said on Friday that his firm purchased some U.S. stocks two weeks ago after their rocky start in January and early February. “I thought it was a good buy point two wee... More »
BOSTON Activist hedge fund manager Jeffrey Smith, who has publicly criticized Yahoo Inc Chief Executive Officer Marissa Mayer, said on Friday he sees “a lot of opportunity” in the company. Smith’s Starboard Value has threatened to run a proxy contest raising p... More »
NEW YORK Kentucky’s troubled public pension funds are fighting a bill requiring them to disclose performance fees paid to outside asset managers and use more transparent methods when selecting those managers. Both the Kentucky Teachers Retirement System (KTRS)... More »
FRANKFURT It doesn’t look like much, but a boxy wooden vintage Swedish footstool isn’t just a place to rest your weary feet after cross-country skiing. It is the latest competition to hedge funds or high end real estate. And that means it will cost you $17,000... More »
BOSTON U.S. ratings agency Standard & Poor’s warned on Friday it may cut the credit rating of billionaire investor Carl Icahn’s Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months. S&P placed its t... More »
NEW YORK Ray Dalio, founder of Bridgewater Associates LP, the world’s largest hedge fund, said on Friday that a Wall Street Journal story about a dispute with his heir apparent, Greg Jensen, was overblown. The newspaper reported that Dalio and Jensen had gone ... More »
BOSTON/NEW YORK Global hedge funds lost so much money in January that the month marked the industry’s worst start to the year since the 2008 financial crisis, Hedge Fund Research (HFR) data released on Friday showed. But the declines were smaller than the bigg... More »
Activist investors are putting the U.S. banking sector in their crosshairs, betting that headwinds whipping through the industry will accelerate consolidation among lenders. While these activist hedge funds have already targeted some major financial companies,... More »
Several major hedge funds are piling into bets that China’s currency will decline against the dollar, according to the Wall Street Journal. Hayman Capital Management has invested about 85 percent of its portfolio in bets against the yuan and the Hong Kong doll... More »
BOSTON As 2016 shapes up to be even more unpredictable than last year, wealthy investors are planning to allocate more of their money to hedge funds focusing their bets on rates, currencies and commodities rather than stocks, a strategy which tends to fare bet... More »
NEW YORK Mohamed El-Erian, the chief economic advisor at Allianz, said on Friday the Bank of Japan’s shocking move to take one of its main interest rates into negative territory underscored the country’s hope to weaken the yen to re-inflate its economy. “Count... More »
WASHINGTON U.S. securities regulators plan to scale back examinations of brokers so they can shift resources to improve oversight of investment advisers, which have traditionally faced less scrutiny, several people familiar with the matter said on Friday. The ... More »
BOSTON U.S. college and university endowments earned an average return of 2.4 percent after fees in the fiscal year ended in June, their lowest return since fiscal 2012 and a sharp drop from the 15.5 percent they earned in fiscal 2014, according to a study rel... More »
BOSTON Sitting on a double-digit loss that is the deepest in his firm’s history, billionaire investor Bill Ackman on Tuesday told investors that he made mistakes last year in not cutting two big positions but said he sees plenty of new investment opportunities... More »
BOSTON Billionaire investor John Paulson has put up part of his personal fortune as collateral to back a credit line for his $18 billion hedge fund Paulson & Co., a government filing shows. According to a UCC Financing Statement filed in New York on Dec. 18, t... More »
NEW YORK Greenlight Capital said in an SEC filing on Monday that the New York-based firm, run by influential hedge fund manager David Einhorn, has reached no agreement on gaining a board seat at SunEdison Inc. “To date, no understanding has been reached betwee... More »
Bloomberg LP will get an opportunity to contest a U.S. judge’s order requiring more than 100 people to disclose if they shared confidential information with the media company’s reporters about the bankruptcy of Molycorp Inc. U.S. Bankruptcy Judge Christopher S... More »
WILMINGTON, Del. A U.S. judge on Tuesday denied a request by media company Bloomberg LP to stay an order requiring more than 100 people to disclose information they shared with its reporters about the bankruptcy of the largest U.S. rare earth mining company, w... More »
NEW YORK – In recent years, bond investor Jeffrey Gundlach has been outperforming his rival Bill Gross. He has even been dubbed the “Bond King” by the media – a title Gross has held for many years. Now, Gundlach has replaced Gross on a high-profile investor pa... More »
NEW YORK With signs of a bear market in U.S. stocks emerging, some of the world’s biggest investors say the buying opportunity is not here yet and instead believe further drops of 10 to 20 percent are a possibility. However, they do not envision a repeat of a ... More »
Billionaire activist investor Carl Icahn said on Tuesday he did own any stake in media company Time Warner Inc. “I have no position in Time Warner. No options, no forwards, no stock,” Icahn said when reached by phone. Reuters and the New York Post reported on ... More »
A federal appeals court on Friday set back Bank of New York Mellon Corp’s effort to recoup $312 million it lent to Sentinel Management Group Inc, a money manager that collapsed in 2007 and whose former chief is now in prison for fraud. The 7th U.S. Circuit Cou... More »
The hedge fund billionaire Steven A. Cohen has resolved U.S. charges related to insider trading, in an accord that clears the way for one of Wall Street’s top investors to soon manage outside money even after his former firm pleaded guilty to fraud. Cohen acce... More »
Martin Shkreli, the pharmaceutical entrepreneur facing U.S. charges of securities fraud, has said he had been the target of legal authorities for his much-criticized drug-price hikes and his over-the-top public persona, the Wall Street Journal reported. Shkrel... More »
Ride-hailing app Lyft Inc, Uber Technologies Inc’s biggest competition in the United States, expects to raise up to $1 billion in a new round of financing, Bloomberg reported citing a Delaware state filing. The document filed by Lyft on Friday evening did not ... More »
Private equity firm Cerberus Capital Management LP [CBS.UL] is close to an agreement to buy Avon Products Inc’s (AVP.N) North American business for $170 million, the Wall Street Journal reported on Thursday. New York-based Cerberus will also invest $435 millio... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said the U.S. economy faces a 30 percent chance of recession next year after the Federal Reserve’s first interest rate increase in nearly a decade on Wednesday. “Commodity pri... More »
BOSTON Billionaire hedge fund investor William Ackman, whose funds have suffered double-digit losses this year, on Tuesday told investors that 2015 could be his firm’s worst ever, but said clients are generally sticking with him. “If the year finishes with our... More »
NEW YORK Hedge fund managers faced a tricky question this holiday season: how to thank employees but not offend disappointed clients. Despite a year of heavy losses for some in the industry, anecdotal evidence suggests holiday traditions were upheld and, in so... More »
NEW YORK The trustee liquidating Bernard Madoff’s firm on Friday began distributing another $1.19 billion to victims of the swindler’s Ponzi scheme. Irving Picard, the trustee, said the payout will boost distributions to more than $9.16 billion. Next week mark... More »
NEW YORK Fidelity Investments is building an automated portfolio-management service for individual investors, joining a growing group of money and brokers that have bought or designed such “robo-advisers,” a spokesman for the firm said Friday. The platform, ca... More »
NEW YORK DoubleLine Capital co-founder Jeffrey Gundlach said on Sunday that the Federal Reserve may hesitate to raise rates given rocky economic and financial conditions, though the Paris attacks alone are unlikely to play a factor in next month’s decision. Th... More »
TOKYOActivist investor Daniel Loeb, famously branded a carpet-bagger by actor George Clooney, has turned from bruiser to charmer in Japan, where he has added diversified retailer Seven & I Holdings to his portfolio. Sources familiar with the situation say Loeb... More »
NEW YORKDoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Thursday that the U.S. Federal Reserve should not raise rates in December as economic and financial conditions have become vulnerable. Gundlach said the... More »
BOSTON – Hedge fund manager David Einhorn, who has been nursing some of the year’s biggest losses, posted tiny gains in October when the U.S. stock market had a strong showing, a person familiar with his fund’s returns said on Friday. Einhorn’s $11 billion Gre... More »
NEW YORK Welcome to the oil market’s new vicious cycle. This past week, as oil prices barreled over 9 percent higher to break out of a weeks-long trading range, U.S. shale producers jumped at the chance to lock in $50-plus crude for the first time in months, m... More »
NEW YORK/WASHINGTON U.S. Democratic presidential hopeful Hillary Clinton on Thursday called for the breakup of large banks that take excessive risks as part of a sweeping plan to curb what she says are Wall Street abuses. Under the proposal, large financial fi... More »
Nelson Peltz’s Trian Fund Management has accumulated $2.5 billion in General Electric (GE.N) shares since May — a roughly 1 percent stake — making it one of the company’s top 10 shareholders, the Wall Street Journal reported. In a white paper Trian plans to di... More »
Investors pulled $2.3 billion in assets from Pacific Investment Management Co’s flagship fund in September, up from $1.8 billion the previous month, as market sentiment soured over persisting concerns of the impact of Chinese slowdown on the global economy and... More »
NEW YORK DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned after a weak non-farm payrolls report on Friday that the U.S. equity market as well as other risk markets including high-yield “junk” bonds face another r... More »
NEW YORK Mohamed El-Erian, the chief economic adviser at Allianz SE, said Thursday that the Federal Reserve’s decision to hold off on a rate hike reflects policymakers’ reluctance to add to international financial fragility. The Fed kept interest rates unchang... More »
NEW YORK The global market volatility that upended investors over the last six weeks may last deep into autumn now that the Federal Reserve has decided to keep interest rates unchanged, several equity and fixed income portfolio managers said on Thursday. The F... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who oversees DoubleLine Capital, said on Thursday the biggest surprise from the U.S. Federal Reserve’s decision to keep rates unchanged was policymakers’ focus on recent global economic and financial deve... More »
WASHINGTON U.S. Republican party presidential frontrunner Donald Trump said on Sunday high salaries paid to chief executives were a “joke” and a “disgrace” and said these were often approved by company boards stacked with the CEO’s friends. Trump, a real estat... More »
BOSTON Billionaire investor John Paulson, whose bets have long been closely followed on Wall Street, told investors on Thursday that the value of his biggest hedge fund portfolios fell last month as global markets sold off. The firm’s flagship Paulson Partners... More »
NEW YORK Leon Cooperman and Steven Einhorn’s Omega Advisors remains bullish on U.S. stocks and blames much of August’s market turmoil on so-called risk parity funds and momentum investors known as CTAs, according to a letter the fund sent to investors. Omega c... More »
NEW YORK Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalize on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according people familiar with the bank’s plans. A lack of in... More »
BOSTON Hedge fund mogul William Ackman’s Pershing Square Holdings portfolio fell 13.1 percent this month, leaving the fund down 4.3 percent for the year, the firm said on Thursday. The performance numbers cover returns through Tuesday, Aug. 25. On Wednesday, A... More »
NEW YORK DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Monday that the U.S. equity markets face another round of selling pressure. “The U.S. stock market is in a mode of uncertainty, at best,” Gundlach said... More »
NEW YORK Mohamed El-Erian, chief economic adviser at Allianz SE, said Monday that turmoil in stock markets was creating opportunities for investors, but could prevent the Federal Reserve from hiking interest rates next month. El-Erian also said that equity mar... More »
BOSTON Billionaire hedge fund manager John Paulson, one of the world’s most influential gold investors, said on Friday that the metal is now at an appropriate price level, following last week’s rout that dragged prices to five-year lows. Paulson, in his first ... More »
BANGKOK/HONG KONG U.S. fund giant BlackRock Inc (BLK.N) has won a special new licence that will allow it to raise funds in China directly for the first time, a senior executive told Reuters, paving the way for the world’s largest money manager to expand in the... More »
NEW YORK Jeffrey Gundlach, a widely followed investor who oversees DoubleLine Capital, said in an interview on Monday his firm had purchased “lots of Treasuries and Ginnie Maes” on Friday, ahead of new developments in the Greek and Puerto Rico crises. The U.S.... More »
Pedestrians walk past the NASDAQ MarketSite in New York’s Times Square in this June 4, 2012 file photo. REUTERS/Eric Thayer/Files Private equity firm KKR & Co LP (KKR.N) plans to allow investors to sell parts of their stake in buyout funds through a new privat... More »
