Wednesday, 27 August 2014
Last updated 3 hours ago
Sep 3 2013 | 12:09pm ET
Despite rumblings as far back as February, some prominent hedge funds clearly did not see Microsoft's all-cash $7.2 billion deal for most of Nokia coming.
What had been a very profitable bet against the cellphone maker—whose shares had lost 93% over the past 13 years—soured quickly after the merger was announced yesterday. Some 12% of Nokia shares were on loan to short-sellers, who saw the stock's price soar nearly 50% after the announcement.
Hedge funds may have lost up to €640 million, according to Reuters. Among Nokia's biggest short-sellers were Discovery Capital Management, Viking Global Investors, Maverick Capital Management, Blue Ridge Capital and Lone Pine Capital.
"It's going to be a long/short body-bag job," Hobart Capital's Justin Haque told Reuters.
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 ...