Friday, 29 August 2014
Last updated 2 hours ago
Jul 25 2012 | 10:31am ET
Greenlight Capital did not emerge unscathed from a volatile second quarter.
The firm told investors that it lost 3.2% during the three months; "like the market, the partnerships gave back a proportion of our first-quarter gains," Greenlight wrote to investors on Monday. The hedge fund remains up 3.4% on the year.
Greenlight's biggest hits came from its investments in Dell Inc. and Best Buy Co., both of which the firm sold off during the quarter. It also lost money on Marvell Technology Group, one of its largest long positions. It also lost on several of its biggest first-quarter winners, including General Motors and its bet on the Japanese yen.
The hedge fund did win on its short bet against Green Mountain Coffee Roasters. And it announced several "substantial new positions" that it hopes will join Green Mountain in its winners' circle. Among those new bets are on managed healthcare companies Cigna Corp. and Coventry Health Care: Greenlight wrote that the sector is already cheap thanks to "anticipation of Obamacare," and that November's election results—read: President Barack Obama's defeat—could fuel further gains if the U.S. healthcare law is changed.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...