Saturday, 20 September 2014
Last updated 22 hours ago
Aug 21 2012 | 1:05pm ET
Greenlight Capital's investments in healthcare companies may be calculated to profit from President Barack Obama's possible defeat in November, but they may already be paying off for the hedge fund.
The $7.7 billion fund's investment in Coventry Health Care jumped 20% yesterday after Aetna Inc. agreed to buy Coventry for $5.6 billion. Greenlight bought 6.66 million Coventry shares for about $200 million in the second quarter; yesterday, the shares surged 20% and are now valued at $280 million.
Greenlight also bought a stake in Cigna Corp., saying that no matter what happens with "Obamacare" in the future, it had already depressed the prices of managed healthcare companies.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.