Formula Capital's James Altucher says a double dip isn't his main concern for the coming year. The hedge fund manager is more anxious about rip-roaring economic growth — powered by companies replenishing inventories and the stimulus doing its thang — and a huge run up in the stock market.
"It's gonna be enormous... We're barely going to look back."
Oct 28, 2009 7:28 AM
After proxy battle with Target board, hedge fund manager becomes prison operator's largest investor
Oct 22, 2009 2:33 PM
Hedge fund manager Tom Brown says the parent of The Bank of Nashville is just his kind of stock, especially after the recent capital raise.
But the company’s outlook isn’t nearly as bleak as the market seems to think. In the runup to an equity offering last week (about more of which in a minute) the company made it pretty clear that it’s in the process of getting its credit issues under control, and that its underlying profitability is strong. In particular Synovus says that its ongoing program of aggressive problem loan disposition is on track, and that the run-rate on new non-performers continues to improve. Meanwhile, pre-tax, pre-credit cost earnings continue to rise.Shares of Synovus (Ticker: SNV) have traded either side of $4 for most of the past two months.
Sep 23, 2009 7:13 AM
The team overseeing Metro's Employee Benefit Trust Fund will decide next month whether to devote up to $170 million of the money they manage to hedge funds. Chief Investment Officer Fadi BouSamra, who has been pushing to diversify the fund's asset base since taking over two years ago, also has given a Vermont firm more money to manage and will next month launch the search for a new consultant. SEE ALSO: Venture Nashville's note on the state committing serious cash to private equity
Aug 26, 2009 7:29 AM
Houston hedge fund to take on microcap portfolio
Aug 20, 2009 1:54 PM
Shares of Regions Financial, the parent of the largest bank in Nashville, are up more than 8 percent (Ticker: RF) after hedge fund titan John Paulson disclosed yesterday he has bought almost 3 percent of the company. SEE ALSO: Jim Cramer putting into perspective Paulson's move: "The guy was short mortgages! Regions Financial is a living, breathing mortgage."
Aug 13, 2009 12:11 PM
Highly embattled feeder fund the Fairfield Greenwich Group, co-founded by hometown boy Walter Noel, has fired back over fraud accusations from Massachusetts regulators for its role in the Bernard Madoff debacle. The company stands by its monitoring of its now-evaporated Sentry funds and claims PricewaterhouseCoopers consistently turned in clean audit reports when it examined them. They claim they were simply duped like everyone else. However, judging by conversations we've had with hedge fund managers who did not invest with Madoff due to his complete and utter lack of transparency, FGG's chances of convincing the world it was paying close enough attention are not high. More detail is available here.
Apr 30, 2009 12:18 PM
New figures from the Fed show that U.S. banks' commercial loan portfolios shrank 2.9 percent during the first quarter. Commercial real estate exposure – seen by many as the next domino to fall – fell by 0.5 percent. For a glass-half-full take on these numbers, check out hedge fund manager Gary Townsend's opinion that "banks are not only able to lend, but that they’re taking ample market share from non-bank financiers and the shadow banking system." For the glass-almost-empty approach, read the first few comments to Townsend's piece.
Apr 13, 2009 12:55 PM
Crescendo Partners, which a year ago negotiated a deal to take three board seats at the restaurant chain, last week bought almost 100,000 shares of the company, lifting its stake to 13.4 percent. The purchases, detailed here and here, ramped up throughout the week: Monday - 815 shares Tuesday - 5,002 Wednesday - 13,983 Thursday - 17,000 Friday – 59,934 At the end of it all, O'Charley's stock (Ticker: CHUX) wrapped up the week down 24 percent and trading at a tenth of its June 2007 value.
Mar 1, 2009 11:00 PM