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Activist Short Selling Pays Off
Hedge Funds
Activist Insight Shorts data show over 70% of stocks targeted by an activist short seller trade lower after a week In February this year, Bill Ackman’s Pershing Square Capital Management exited its longstanding short position in Herbalife due to its major loss in the holding. Even with a Federal Trade Commission investigation into Herbalife’s business practices, Ackman still lost the bet.
Hedge Fund up 7.4% in Q1 Warns of Trade Wars and Real Wars
Hedge Funds
Livermore Q1 letter to investors – gains of 7.4% for Q1 – see the full letter on HiddenValueStocks As we approach Q2, our theme continues to gain as volatility is here to stay. Which finally witnessed the pendulum swing back to active investing. Coupled with Livermore’s select activist approach, can work very well as price discovery on sell-offs become overdone
Seth Klarman: Mainstream Investing Has It Backwards
Some years ago Seth Klarman gave a fantastic speech at the MIT Sloan Investment Management Club. During his speech Klarman suggested that the mainstream approach to investing has is backwards saying: See 2017 Hedge Fund Letters. “Right at the core, the mainstream has it backwards. Warren Buffett often quips that the first rule of investing is to not lose money, and
Rising Short Term Interest Rates Should Help Some Hedge Fund Strategy Returns
Hedge Funds
The Federal Reserve increased its target range for the federal funds rate by 25 bps to 1.50-1.75% on Wednesday, March 21. This marks the 6th incremental increase since December 2015 following the dramatic cut in rates during the financial crisis.  In addition, the Fed has indicated that it is forecasting 2-3 more increases in 2018, 3 increases in 2019 and
Report: Bill Ackman is Losing Investors At a 'Rapid Pace'
Hedge Funds
Pershing Square Capital Management scored a big victory a couple of weeks ago via a $100-million cash out on a fortuitous Nike investment, but that might be enough to keep Bill Ackman's investors around much longer. Ackman's fund is now losing investors at a "rapid pace," the Wall Street Journal reports, with "about two-thirds of the cash that could be
Best Start to Hedge Fund Demand Since 2014
Hedge Funds
Investors allocated an estimated $11.87 billion into hedge funds in February, continuing the trend of high demand for hedge fund products in the early months of 2018. This brings YTD inflows to $21.83 billion, according to the newly released February 2018 eVestment Hedge Fund Asset Flows Report. See 2017 Hedge Fund Letters. The month of February historically sets the tone
Klarman 2017 Letter: Softbank and Sequoia as Symptoms of the Bubble
– We have some highlights of the Baupost 2017 letter on ValueWalk Premium – since the site just launched we posted here although you really should get our newsletter and check out the other site – also many will ask – also please do not email our staff asking us for copies of the material we are unable to send and
Bill Ackman Finally Notches a Victory Via a $100-Million Nike Cash Out
Hedge Funds
It has been a rough, humbling calendar year for Bill Ackman. First, it was announced last March that Pershing Square Capital Management had sold its entire stake – about 27 million shares and options – in Valeant Pharmaceuticals International, effectively conceding that he couldn’t turn around the troubled company. The fund then followed that defeat up with a second embarrassing
Hedge Fund Performance Fees UP!! in 2017, but Down Again in 2018
Hedge Funds
Key highlights for 2018: Hedge funds declined 1.62% in February and were up 0.37% year-to-date with total AUM growth still in the green despite losses in February which eroded the solid gains in January. Investor redemptions stood at US$5.0 billion in February while performance-based losses of US$34.2 billion were recorded. Almost 35% of the fund managers are in the red
Skenderbeg – Hedge Funds Produce Higher Risk-Adjusted Returns and Other Stories From the Month That Was
Hedge Funds
Skenderbeg Alternative Investments March 2018 Put into perspective. “A slave doesn’t want to be free. He wants to be slave supervisor.” – Gabriel Laub Check out our H2 hedge fund letters here. Hedge Funds Fees have been falling in the hedge fund industry Goldman Sachs Are alpha males worse investors? The Economist Increasing concentration in the hedge fund industry Goldman