Thursday, 18 September 2014
Last updated 12 hours ago
Dec 3 2013 | 10:42am ET
Clareville Capital is racking up big returns this year, without even a hand from Twitter Inc.'s initial public offering.
The London-based firm's Pegasus Fund is up 54% through the end of October, a month that saw it add another 4.8% to the total, ValueWalk reports. The hedge fund is soaring on the back of the travel sector, co-manager David Yarrow wrote to clients.
Pegasus' largest investment is in British Airways parent International Consolidated Airlines. But the fund also has bets on discount airline easyJet and travel agency Thomas Cook Group. The former is up 85% this year and the latter 260%.
Both of which are better than the roughly 60% gain in Twitter shares over its IPO price. Yarrow dismissed IPO investing, writing "no matter how much work you do on an IPO and how interested you are, the allocation you receive is at the whim of the book runner."
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.